A Federal Reserve policy meeting and dozens of second-quarter earnings reports will be this week’s highlights. There will also be data on consumer confidence, second-quarter gross domestic product, and U.S. inflation.
On Wednesday, we can expect major updates from the following companies:
- Meta Platforms
- Chipotle Mexican Grill
Thursday will see reports from the following noteworthy companies:
- Southwest Airlines
- American Tower
- T-Mobile US
- Ford Motor
Closing the Week on Friday
Chevron, Exxon Mobil, and Procter & Gamble will close the week with their reports on Friday.
Federal Reserve Policy Meeting
The Federal Open Market Committee will convene on Tuesday and Wednesday to discuss monetary policy. Chairman Jerome Powell will hold a press conference on Wednesday afternoon to announce the decision. Expectations are high for a 0.25 percentage point increase in the federal-funds rate, bringing it to 5.25%-5.50%.
Economic Data to Watch
Several important economic data releases are scheduled for this week:
- On Tuesday, we will see the results of the Conference Board’s consumer confidence survey for July.
- Thursday will bring the Bureau of Economic Analysis’ advance estimate for U.S. second-quarter gross-domestic-product growth.
- On Friday, the core personal consumption expenditures price index for June will be revealed. This is the Fed’s preferred measure of inflation, and it is expected to show a 4.2% increase compared to the previous year, which is a slight decrease of 0.4 points from May.
The following companies are scheduled to release earnings reports on Monday:
- Logitech International
- NXP Semiconductors
Continuing the earnings season, tech titans Alphabet and Microsoft will release their results. Additionally, Spotify Technology, Snap, and Texas Instruments are among the tech companies reporting on Tuesday.
Upcoming Earnings Releases
The following companies are expected to release their earnings:
- Alaska Air
- General Electric
- General Motors
- Waste Management
Key Economic Reports
S&P CoreLogic will release its Case-Shiller National Home Price Index for May, providing insights into the housing market.
The Conference Board will release its consumer confidence survey for July, offering valuable data on consumer sentiment.
The FOMC is set to announce its monetary-policy decision. Analysts predict a quarter-point increase in the federal-funds rate to 5.25%-5.50%. This may potentially be the final rate hike for this cycle.
Thursday 7/27 – Earnings Expectations
The following companies are expected to announce their earnings:
Economic Report: Gross-Domestic-Product Growth
The BEA will release its advance estimate for second-quarter gross-domestic-product (GDP) growth. Economists forecast a seasonally adjusted annual growth rate of 1.4%.
Additional companies expected to release their earnings on Thursday include:
- American Tower
- Boston Beer
- Bristol Myers Squibb
- Carrier Global
- Hertz Global
- Live Nation Entertainment
- Northrop Grumman
Friday 7/28 – Key Economic Report
The BEA will report the core personal consumption expenditures price index for June, which is expected to rise 4.2% from a year earlier, marking a slight decrease compared to May.
Additional companies expected to release their earnings on Friday include:
- Exxon Mobil
- Procter & Gamble