Week Ahead: Heavy Earnings and Economic Data for Traders

This week will bring a heavy load of earnings and economic data for traders to consider.

Earnings season begins anew with major financial institutions kicking things off per usual, as traders also digest the opening of trading for the South Korean memory chip manufacturer SK Hynix (SKHY and SKHYV) that could bring even more activity into the already red-hot semiconductor sector.

The S&P 500 (SPX) finished the week with a 1.2% gain, a recovery from recent lows near 7,237 in early June. The Nasdaq-100 (NDX) climbed 1.7% but also made new relative lows near 28,814 that exceeded the bottom formed during the last two weeks around 28,890. Meanwhile, the Dow Jones Industrial Average ($DJI) pushed into new all-time highs of about 53,289 but finished lower on the week with a 0.5% decline.

Oil markets were roiled by hostilities between the U.S. and Iran, with President Donald Trump suggesting that the ceasefire agreement is over. This contributed to market churn that eventually resulted in a roughly 4.5% weekly increase in U.S. oil futures (/CL). Gold futures (/GC) were little changed on the week, while Bitcoin futures (/BTC) extended their rally off the 52-week lows near 57,850 last week.

Three things to watch this week:

Earnings: Big banks will start things off for this quarter's wave of earnings, with names like JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Wells Fargo (WFC), and Citigroup (C) leading the charge on Tuesday. Other financial sector heavy hitters Morgan Stanley (MS) and BlackRock (BLK) come Wednesday, and large regional bank names are also on the docket next week including PNC Financial Services Group (PNC), U.S. Bancorp (USB), and Truist Financial (TFC). Other sectors to watch include Semiconductors with Taiwan Semiconductor (TSM) and ASML Holding (ASML) as well as Healthcare with Johnson & Johnson (JNJ) and UnitedHealth Group (UNH). Other notable names rounding out the list include Netflix (NFLX), United Airlines (UAL), and GE Aerospace (GE).

Economic Data: Markets will get more perspective on inflation this week with the Consumer Price Index (CPI) on Tuesday and the Producer Price Index (PPI) on Wednesday. Noteworthy employment data includes ADP Employment Change and Jobless Claims. Traders also get a read on the housing market with the NAHB Housing Market Index and Housing Starts near the end of the week.

Options Market: Friday, July 17 marks monthly options expiration, so be on the lookout for heightened volatility.

Economic Events/Data (ET)

Tuesday, July 14

• 06:00 AM: NFIB Business Optimism Index
• 08:15 AM: ADP Employment Change
• 08:30 AM: Consumer Price Index (CPI)
• 09:00 AM: Fed Chair Warsh Testimony to Congress

Wednesday, July 15

• 08:30 AM: Producer Price Index (PPI)
• 08:30 AM: NY Empire State Manufacturing Index

Thursday, July 16

• 08:30 AM: Retail Sales
• 08:30 AM: Jobless Claims
• 08:30 AM: Philadelphia Fed Manufacturing Index
• 10:00 AM: Business Inventories
• 10:00 AM: NAHB Housing Market Index

Friday, July 17

•  08:30 AM: Housing Starts and Permits
• 08:30 AM: Import/Export Prices
• 09:15 AM: Industrial Production
• 10:00 AM: Michigan Consumer Sentiment

Earnings Calendar

Monday, July 13

• Premarket Monday: n/a
• Postmarket Monday: Grupo Aeromexico (AERO), FB Financial Corp (FBK) 

Tuesday, July 14

• Premarket: JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Wells Fargo (WFC), Citigroup (C), Fastenal (FAST), Ericsson (ERIC)
• Postmarket: Aehr Test Systems (AEHR)

Wednesday, July 15

• Premarket: ASML Holding (ASML), Johnson & Johnson (JNJ), Morgan Stanley (MS), BlackRock (BLK), BNY (BNY), PNC Financial Services Group (PNC), Elevance Health (ELV), Cintas (CTAS)
• Postmarket: United Airlines (UAL), J.B. Hunt (JBHT)

Thursday, July 16

• Premarket: Taiwan Semiconductor (TSM), UnitedHealth Group (UNH), GE Aerospace (GE), Abbott Laboratories (ABT), Prologis (PLD), U.S. Bancorp (USB)
• Postmarket: Netflix (NFLX), Alcoa (AA)

Friday, July 17

• Premarket: The Travelers Companies (TRV), Truist Financial (TFC), Fifth Third Bancorp (FITB), Regions Financial (RF)
• Postmarket: n/a

This material is intended for informational purposes only and should not be considered a personalized recommendation or investment advice. Investors should review investment strategies for their own particular situations before making any decisions.

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Data contained herein is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. All events and times listed are subject to change without notice.