What to Watch in the Week Ahead and on Monday, July 22
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ON MONDAY
A meeting of the G20 finance ministers and central bank governors is scheduled to take place between July 22 and July 23, ahead of the G20 Brazil Summit 2024. The G20 finance ministers will also hold meetings from July 24 to 25.
Verizon is expected to report a rise in second-quarter revenue, as the U.S. wireless carrier added more net new phone subscribers who pay a monthly bill.
In Latin America, Mexico's national statistics agency is due to report the annual IGAE economic activity data for May.
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REST OF THE WEEK
A host of major U.S. companies are scheduled to report their earnings during the week. On Tuesday, Alphabet, the Google-parent, is expected to report a 13% rise in second-quarter revenue, its fourth straight quarter of double-digit growth, with healthy demand for its cloud computing services. Investors will closely watch updates on the adoption of AI features unveiled at Google's recent developer conference and how it would impact the company's costs.
Among automakers, Tesla and General Motors are due to report their results on Tuesday. Tesla is expected to report a drop of about 1% in quarterly revenue after it delivered more cars than market expectations. GM's second-quarter earnings report is expected to outline whether strong vehicle pricing continues to offset struggles in China and with EVs. On Wednesday, Ford Motor will report second-quarter results, outlining whether commercial and hybrid vehicle sales offset struggles in its EV business.
The closely watched advance estimate of the U.S. gross domestic product (GDP) data is due on Thursday. The Commerce Department's Bureau of Economic Analysis is set to report the economy likely grew 1.8% in the second quarter, compared to a 1.4% growth in the first quarter. Meanwhile, data due Friday is set to show the personal consumption expenditures (PCE) price index is likely to have risen 0.1% in June after a flat reading in the previous month. Consumer spending likely rose 0.3% in June, compared with a 0.2% rise in May. On Wednesday, S&P Global flash manufacturing and services PMI numbers for July are due. On the same day, a report from the Commerce Department is expected to show new home sales rose to a seasonally adjusted annual rate of 640,000 units in June, compared with the pace of 619,000 units in May. On Tuesday, the National Association of Realtors is set to report existing home sales are likely to come in at 4 million units in June, compared with 4.11 million units in the previous month. On Thursday, a report from the Commerce Department's Census Bureau is expected to show orders for durable goods likely edged up 0.3% in June after rising 0.1% in May. The Labor Department's initial jobless claims data is also due. On Friday, the University of Michigan's preliminary reading on the overall index of consumer sentiment for July is expected to have remained unchanged at 66.
Federal Reserve Vice Chair for Supervision Michael Barr and Federal Reserve Bank of New York President John Williams are scheduled to participate in the 2024 Treasury Market Conference hosted by the Federal Reserve Bank of New York on Friday.
Coca-Cola is expected to post a fall in second-quarter revenue on Tuesday, mainly driven by consumers in the United States pulling back on its sodas which got pricier in the last couple of years even as demand in international markets like Europe and Asia remains steady. Investors will look out for comments about consumer demand in the United States, new product launches and plans for the Paris Olympics that begin on July 26.
AbbVie is set to report its second-quarter earnings on Thursday. Investor focus is expected to be on the sales erosion of the company's drug Humira due to competition from biosimilars and sales of its drugs Rinvoq and Skyrizi.
On Tuesday, Comcast is expected to report a revenue fall in the second quarter, hurt by fewer net new phone subscribers additions.
On Wednesday, AT&T is expected to report a rise in second-quarter revenue, helped by strong subscriber additions.
Southwest Airlines is expected to report a fall in second-quarter profit on Thursday. Investors will be looking for comments on Boeing deliveries, travel demand and the company's response to activist investor Elliott Investment Management's push for leadership changes at the carrier.
Mattel is expected to post a rise in second-quarter revenue on Tuesday, in first signs that demand was beginning to recover for the toymaker. Investors will look for comments around consumer demand trends going into the back half of the year, retail inventory levels, and any updates on full-year forecasts.
HCA Healthcare is set to report its second-quarter results on Tuesday before markets open. The focus will be on changes to its annual forecast and comments by the largest U.S. for-profit hospital operator on patient admissions and demand for medical procedures.
Boston Scientific is expected to report its second-quarter results on Wednesday. Investors will focus on the medtech company's heart devices and its quarterly performance, given a pick-up in hospital surgical procedure volumes, and changes to its 2024 forecast print.
On Friday, Colgate-Palmolive is expected to post a rise in second-quarter revenue, aided by steady demand for its product categories such as self-care and pet nutrition. Investors will look for comments on pricing actions, demand, impact of increasing competition and annual forecasts.
Health insurer Centene is set to report its second quarter results before markets open on Friday. The focus will be on medical costs and comments around government-backed Medicaid plans that help cover medical expenses for people with low income.
Kimberly-Clark is expected to post a decline in second-quarter revenue on Tuesday, hurt by weaker demand for its high-priced personal care and household products. Investors will look for comments on pricing action, volumes, impact of cost-cutting efforts and annual forecasts.
On Thursday, Keurig Dr Pepper is expected to post a rise in second-quarter revenue mainly driven by steady demand for its sodas in the United States. Investors will look out for comments about the health of the consumer in the United States, impact of weight loss drugs if any and new product innovations.
Thermo Fisher Scientific is expected to report second-quarter earnings before markets open on Wednesday. Investors will be on the lookout for any comments about demand for tools and services from biotech clients. Focus will also be on any changes to the firm's 2024 outlook and commentary around 2025.
Charter Communications is expected to post a rise in revenue in the second quarter on Friday, as it sees steady subscriber growth from its rural expansion plans.
Quest Diagnostics is reporting its second-quarter results on Tuesday, and investors will look for color on the performance of the company's base business, excluding COVID-19 and any changes to the laboratory operators' 2024 outlook.
Bank of Canada is scheduled to announce its interest rate decision on Wednesday.
Canada's Rogers Communications is expected to post higher second-quarter revenue on Wednesday, helped by rising demand for its wireless and internet services from the growing population and immigrants entering the country.
Farming supplies retailer Tractor Supply is expected to post a rise in second-quarter revenue on Thursday, helped by steady demand for discretionary and agricultural products. Investors will look for comments on demand, pricing action, and annual forecasts.
Real estate information provider CoStar Group is expected to post higher second-quarter revenue on Tuesday, likely to be helped by robust traffic on its global websites and growing sales of its homes.com memberships.
Lamb Weston Holdings is expected to post a rise in fourth-quarter revenue on Wednesday, helped by steady demand for its frozen products. Investors will look for comments on demand, pricing actions, impact of input costs and annual forecasts.
Juniper Networks is expected to post lower second-quarter revenue on Thursday, hurt by weak spending by its cloud computing and enterprise clients in an uncertain economy.
Home-building products maker Masco is expected to post a decline in second-quarter revenue on Thursday, owing to weaker demand for its high-priced plumbing and home decor items. Investors will look for comments on demand, pricing action and annual forecasts.
Insurer Globe Life is expected to post a jump in second-quarter profit on Wednesday, helped by robust underwriting and higher investment income.
In Latin America, Brazil's national statistics agency is due to report the IPCA-15 mid-month CPI data for July and current account data for June on Thursday. Separately, Mexico's national statistics agency INEGI is set to report the country's inflation data for the first half of July on Wednesday.
Reporting by Ananya Roy; Editing by Shailesh Kuber
Σχετιζόμενα σύμβολα
Τελευταία νέα
Δήλωση αποποίησης ευθύνης: Οι οντότητες του ομίλου XM Group παρέχουν υπηρεσίες σε βάση εκτέλεσης μόνο και η πρόσβαση στην ηλεκτρονική πλατφόρμα συναλλαγών μας που επιτρέπει στον ενδιαφερόμενο να δει ή/και να χρησιμοποιήσει το περιεχόμενο που είναι διαθέσιμο στην ιστοσελίδα μας ή μέσω αυτής, δε διαφοροποιεί ούτε επεκτείνει αυτές τις υπηρεσίες πέραν αυτού ούτε προορίζεται για κάτι τέτοιο. Η εν λόγω πρόσβαση και χρήση υπόκεινται σε: (i) Όρους και προϋποθέσεις, (ii) Προειδοποιήσεις κινδύνου και (iii) Πλήρη δήλωση αποποίησης ευθύνης. Ως εκ τούτου, το περιεχόμενο αυτό παρέχεται μόνο ως γενική πληροφόρηση. Λάβετε ιδιαιτέρως υπόψη σας ότι τα περιεχόμενα της ηλεκτρονικής πλατφόρμας συναλλαγών μας δεν αποτελούν παρότρυνση, ούτε προσφορά για να προβείτε σε οποιεσδήποτε συναλλαγές στις χρηματοπιστωτικές αγορές. Η πραγματοποίηση συναλλαγών στις χρηματοπιστωτικές αγορές ενέχει σημαντικό κίνδυνο για το κεφάλαιό σας.
Όλο το υλικό που δημοσιεύεται στην ηλεκτρονική πλατφόρμα συναλλαγών μας προορίζεται για εκπαιδευτικούς/ενημερωτικούς σκοπούς μόνο και δεν περιέχει, ούτε θα πρέπει να θεωρηθεί ότι περιέχει συμβουλές και συστάσεις χρηματοοικονομικές ή σε σχέση με φόρο επενδύσεων και την πραγματοποίηση συναλλαγών, ούτε αρχείο των τιμών διαπραγμάτευσής μας ούτε και προσφορά ή παρότρυνση για συναλλαγή οποιωνδήποτε χρηματοπιστωτικών μέσων ή ανεπιθύμητες προς εσάς προωθητικές ενέργειες.
Οποιοδήποτε περιεχόμενο τρίτων, καθώς και περιεχόμενο που εκπονείται από την ΧΜ, όπως απόψεις, ειδήσεις, έρευνα, αναλύσεις, τιμές, άλλες πληροφορίες ή σύνδεσμοι προς ιστότοπους τρίτων το οποίο περιέχεται σε αυτήν την ιστοσελίδα παρέχεται «ως έχει», ως γενικός σχολιασμός της αγοράς και δεν αποτελεί επενδυτική συμβουλή. Στον βαθμό που οποιοδήποτε περιεχόμενο ερμηνεύεται ως επενδυτική έρευνα, πρέπει να λάβετε υπόψη και να αποδεχτείτε ότι το περιεχόμενο δεν προοριζόταν και δεν έχει προετοιμαστεί σύμφωνα με τις νομικές απαιτήσεις που αποσκοπούν στην προώθηση της ανεξαρτησίας της επενδυτικής έρευνας και ως εκ τούτου, θα πρέπει να θεωρηθεί ως επικοινωνία μάρκετινγκ σύμφωνα με τους σχετικούς νόμους και κανονισμούς. Παρακαλούμε εξασφαλίστε ότι έχετε διαβάσει και κατανοήσει τη Γνωστοποίησή μας περί Μη ανεξάρτητης επενδυτικής έρευνας και την Προειδοποίηση κινδύνου όσον αφορά τις παραπάνω πληροφορίες, τις οποίες μπορείτε να βρείτε εδώ.
