The upcoming week in the U.S. stock market will kick off with a mixed opening, accompanied by a flurry of major company earnings announcements. Investors will also closely monitor the Federal Reserve’s monetary policy meeting.
Crude Oil Prices Slide
In commodity markets, West Texas Intermediate (WTI), the U.S. standard for crude oil futures, experienced a 0.5% decline, settling at $76.67 per barrel. Meanwhile, Brent crude, the international benchmark, also dropped 0.5%, reaching $80.65 per barrel.
Earnings Reports from Prominent Companies
Monday will witness the release of earnings reports from more than 150 companies listed in the S&P 500, including Cleveland-Cliffs, Domino’s Pizza, Logitech International, and NXP Semiconductors.
Tuesday will feature earnings releases from 3M, Alaska Air, Alphabet, Dow, General Electric, General Motors, Microsoft, Spotify Technology, Snap, Texas Instruments, Verizon Communications, Visa, Waste Management, and Xerox.
Wednesday’s reports will include earnings updates from AT&T, Boeing, Chipotle Mexican Grill, Coca-Cola, eBay, and Meta Platforms.
Thursday’s big announcements will showcase American Tower, Boston Beer, Comcast, Ford Motor, Hertz Global, Intel, Live Nation Entertainment, Mastercard, McDonald’s, Shell, Southwest Airlines, T-Mobile US, and Volkswagen.
Lastly, Friday will see earnings reports from Chevron, Exxon Mobil, and Procter & Gamble.
Key Economic Events to Watch
Throughout the week, several significant economic events are on the horizon:
- On Tuesday, S&P CoreLogic will release the Case-Shiller National Home Price Index for May. Additionally, the Conference Board will unveil its Consumer Confidence Index for July.
- Wednesday marks the much-awaited monetary policy decision by the Federal Open Market Committee, including remarks made by Chairman Jerome Powell. Market sentiment suggests a high probability of a 0.25 percentage-point increase in the federal-funds rate, pushing it to the range of 5.25% to 5.50%.
- Thursday’s economic data will include the Bureau of Economic Analysis’ advance estimate for second-quarter gross-domestic-product growth.
- Finally, on Friday, the BEA will disclose the core personal consumption expenditures price index for June, which represents the Federal Reserve’s preferred measure of inflation.
Stay updated with the latest market developments and economic indicators as this eventful week unfolds.