FAANG Earnings, Fed Meeting in the Spotlight
Apple, Amazon, and Facebook will be reporting quarterly earnings
Earnings season is in full swing, with FAANG members Apple (AAPL), Amazon (AMZN), and Facebook (FB) set to report next week. In addition, several blue chips will step into the earnings spotlight, including Chevron (CVX), Boeing (BA), Verizon (VZ), and Visa (V).
Elsewhere, traders will digest the Fed's policy statement and the subsequent press conference with Fed Chair Jerome Powell on Wednesday, in an effort to gauge the future pace of rate hikes. To top it off, it's a week chock-full of jobs data, culminating in the closely watched payrolls report on Friday.
Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates.
The week will start with the Chicago Fed National Activity Index and the Dallas Fed manufacturing survey slated for Monday, Jan. 28. Earnings season continues to pick up steam, with Dow name Caterpillar (CAT) reporting. AK Steel (AKS) and Whirlpool (WHR) will also report.
On Tuesday, Jan. 29, the Federal Open Market Committee (FOMC) meeting will begin. Traders will also digest data on international trade, the S&P Corelogic Case-Shiller home price index, and consumer confidence. Blue chips 3M (MMM), Apple (AAPL), Pfizer (PFE), and Verizon (VZ) are set to report earnings, along with Advanced Micro Devices (AMD), Biogen (BIIB), Brinker International (EAT), eBay (EBAY), and Harley-Davidson (HOG).
The Fed meeting concludes on Wednesday, Jan. 30, with the latest policy announcement scheduled for release at 2 p.m. Eastern, and a press conference with Fed Chair Jerome Powell to follow. Prior to that, gross domestic product (GDP) data, the ADP employment report, the weekly crude inventories report, and data on pending home sales are also scheduled. Dow members Boeing (BA), McDonald's (MCD), Microsoft (MSFT), and Visa (V) will step into the earnings confessional, as well as Facebook (FB), Tesla (TSLA), Alibaba (BABA), AT&T (T), Mattel (MAT), PayPal (PYPL), Qualcomm (QCOM), and U.S. Steel (X).
Thursday, Jan 31, will bring weekly jobless claims, personal income and outlays, the employment cost index, the Chicago purchasing managers manufacturing index (PMI), and the Fed balance sheet. The day will usher in earnings from DowDuPont (DWDP), Amazon (AMZN), Altria (MO), Deckers Outdoor (DECK),General Electric (GE), Hershey Foods (HSY), MasterCard (MA), Sprint (S), and UPS (UPS).
Friday, Feb. 1, will feature the highly anticipated January payrolls report, as well as data on motor vehicle sales,Markit's services PMI, the Institute for Supply Management (ISM) manufacturing index, construction spending data, and a consumer sentiment report. Blue-chip energy names Chevron (CVX) and Exxon Mobil (XOM) will toss their hats into the earnings ring, along with Merck (MRK). Honda Motor (HMC), Honeywell (HON), and Sony (SNE) are also slated to report.