What will drive the markets this week?
Stocks closed at record highs last Friday with the major indices hitting new records as tech stocks gained ahead of their major earning news this week despite growing concern about COVID-19 variants and how they may impact economic recovery.
The earnings session continues this week with big tech and major US companies including Tesla, Google, and Microsoft, Apple, Amazon, Boeing, Pfizer, Ford, and Exxon Mobil, among others, reporting.
The biggest tech companies report earnings at a time of both fierce competition in the cloud computing market and as they face mounting pressure on antitrust issues.
Investors will also track the US Federal Open Market Committee (FOMC) conference on interest rates and monetary policy, and news of the COVID-19 delta variant and how that may impact the return to work for many companies.
Monday, July 26:
- Tesla Inc. Reports Earnings
- German Ifo Business Climate Index (July).
- U.S. New Home Sales (June).
Tuesday, July 27
- Alphabet Inc., GE Corp., Microsoft Inc., Apple Inc., and AMD Inc. Report Earnings.
- U.S. Core Durable Goods Orders (June)
- U.S. S&P/CS Home Price Index Composite (May).
- U.S. Conference Board Consumer Confidence (July)
Wednesday, July 28:
- Facebook Inc. (FB), Boeing Inc. (BA), Ford Motor Company (F), and Pfizer Inc. (PFE), Report Earnings.
- U.S. Federal Open Market Committee (FOMC) Interest Rate Decision and Monetary Policy Statement.
- Canadian Consumer Price Index (CPI) (June).
- U.S. Retail Inventories Ex-Auto (June).
- U.S. Goods Trade Balance (June).
- German GfK Consumer Climate (Aug).
Thursday, July 29:
- Amazon Inc. Reports Earnings.
- German Unemployment Rate (July).
- U.S. Pending Home Sales (June).
- Japanese Retail (June).
Friday, July 30:
- ExxonMobil Corp. Reports Quarterly Earnings.
- French Consumer Spending (June).
- French Gross Domestic Product (GDP) (Q2).
- U.K. House Price Index (HPI) (July).
- German GDP (Q2).
- Eurozone Unemployment Rate (June).
- U.S. Core Personal Consumption Expenditure (PCE) (June)
- U.S. Chicago Purchasing Managers’ Index (PMI) (June).
- U.S. University of Michigan Consumer Expectations and Sentiment (July)
- Chinese Manufacturing and Composite PMIs (July).