What to Watch in the Week Ahead and on Monday, July 22
The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at DAY/US. Thomson One users can register at RT/DAY/US. All times in ET/GMT
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.
LIVECHAT – REUTERS GLOBAL MARKETS FORUM
Markets week ahead with Justin McQueen, Reuters EMEA FX analyst. (0800/1200) To join the conversation, email us here
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
Gerelateerde activa
Laatste nieuws
Disclaimer: De entiteiten van de XM Group bieden diensten en toegang tot ons online handelsplatform op basis van uitsluitend-uitvoering, waardoor een persoon de beschikbare content op of via de website kan bekijken en/of gebruiken, zonder dat dit is bedoeld voor wijziging of uitbreiding. Dergelijk(e) toegang en gebruik vallen onder: (i) de algemene voorwaarden; (ii) risicowaarschuwingen; en de (iii) volledige disclaimer. Dergelijke content wordt daarom alleen aangeboden als algemene informatie. Wees u er daarnaast vooral van bewust dat de inhoud op ons online handelsplatform geen verzoek of aanbieding omvat om transacties op de financiële markten uit te voeren. Het beleggen op welke financiële markt dan ook vormt een aanzienlijk risico voor uw vermogen.
Alle materialen die op ons online handelsplatform worden gepubliceerd zijn bedoeld voor educatieve/informatieve doeleinden en omvatten geen – en moeten niet worden beschouwd als het bevatten van – financieel, vermogensbelastings- of handelsadvies en aanbevelingen, of een overzicht van onze handelsprijzen, of een aanbod of aanvraag van een transactie in financiële instrumenten of ongevraagde financiële promoties voor u.
Alle content van derden, alsmede content die is voorbereid door XM, zoals opinies, nieuws, onderzoeken, analyses, prijzen en andere informatie of koppelingen naar externe websites op deze website worden aangeboden op een 'zoals-ze-zijn'-basis, als algemene marktcommentaren, en vormen geen beleggingsadvies. Voor zover dat content wordt beschouwd als beleggingsonderzoek, moet u zich ervan bewust zijn en accepteren dat de content niet bedoeld was en niet is voorbereid in overeenstemming met de wettelijke vereisten die zijn opgesteld om de onafhankelijkheid van beleggingsonderzoek te bevorderen en als zodanig onder de geldende wetgeving en richtlijnen moet worden beschouwd als marketingcommunicatie. Zorg ervoor dat u onze Mededeling over niet-onafhankelijk beleggingsonderzoek en risicowaarschuwing in verband met de voorgaande informatie doorneemt en begrijpt; die kunt u hier lezen.
