Key Takeaways
- Federal Reserve Chairman Jerome Powell will speak on Monday, and other Fed officials are scheduled to speak throughout the week.
- Major banks including Goldman Sachs, Bank of America and Morgan Stanley are scheduled to report earnings this week.
- Netflix and Johnson & Johnson will also report earnings this week, and Amazon will hold its annual Prime Day sale.
- Presidential candidate Donald Trump is scheduled to speak at the Republican National Convention.
Federal Reserve Chairman Jerome Powell is scheduled to speak on Monday, and several other Fed officials are also scheduled to speak this week.
Bank earnings reports continue next week with Goldman Sachs (GS), BlackRock (BLK), Bank of America (BAC), Morgan Stanley (MS), and American Express (AXP) scheduled to report. Investors will also receive financial updates from Taiwan Semiconductor Manufacturing Co. (TSMC) (TSM), Netflix (NFLX), and UnitedHealth (UNH).
Republican presidential candidate Donald Trump is scheduled to speak at the Republican National Convention this week.
Additionally, Amazon (AMZN) will be running a two-day Prime Day sale.
Monday, July 15
- Empire State Manufacturing Index (July)
- Republican National Convention Opens
- Federal Reserve Chairman Jerome Powell Mary C. Daly, President of the Federal Reserve Bank of San Francisco Speak Up
- Goldman Sachs, Black Rock, and Servis1st Bancshares (SFBS) Report your earnings
Tuesday, July 16
- Amazon Prime Day begins
- The Republican National Convention continues
- Retail Sales (June)
- Corporate Inventories (May)
- Import and export prices (June)
- Housing Market Index (July)
- UnitedHealthBank of America, Morgan Stanley, Charles Schwab (SCHW)PNC Financial (PNC), State Street (STT), JB Hunt Transport (JBHT) Report your earnings
- Federal Reserve Governor Adriana Kugler gives a speech
Wednesday, July 17
- Amazon Prime Day ends
- The Republican National Convention continues
- Housing starts (June)
- Industrial production and capacity utilization rate (June)
- Federal Reserve Beige Book
- Johnson & Johnson (JNJ)US Bancorp (USB)Kinder Morgan (KMI)and Discover Financial Services (DFS) Report your earnings
Thursday, July 18
- Unemployment claims (week ending July 13)
- US Leading Indicators (June)
- Philadelphia Fed Manufacturing Index (June)
- TSMC, NetflixNovartis (NVS), Abbott (ABT), United Airlines (UAL), and Intuitive Surgical (ISRG) Report your earnings
- Republican National Convention ends with Donald Trump’s speech
- San Francisco Fed President DalyDallas Fed President Lori Logan Federal Reserve Governor Michelle Bowman gives a speech
Friday, July 19
- American ExpressTravelers Cos (TRV)Halliburton (HAL)Fifth Third Bancorp (FITB)Huntington Bancshares (HBAN), and Regions Financial (RF) Report your earnings
- John C. Williams, President of the Federal Reserve Bank of New York Federal Reserve Bank of Atlanta President Raphael Bostic Speak Up
Powell’s remarks shed light on Fed speaker lineup
Market watchers will start the week off with comments from Federal Reserve Chairman Jerome Powell, who will participate in a “fireside chat” with the Economic Club of Washington, DC on Monday. The event will be an opportunity for Powell to expand on the message he delivered to Congress last week that Fed officials are monitoring the labor market more closely as inflation falls. It will be Powell’s first comments since last Thursday’s inflation report showed the Consumer Price Index (CPI) fell to 3.0% in June.
Powell isn’t the only Fed speaker scheduled: San Francisco Fed President Mary Daly, Dallas Fed President Lori Logan and Federal Reserve Board Governors Michelle Bowman and Adriana Kugler are also scheduled to speak this week.
The Beige Book, which provides updates from the Federal Reserve’s 12 districts, is due to be released on Wednesday. Investors will also get data on retail sales, housing starts and business inventories this week.
Investors will also be keeping their eye on politics, with the Republican National Convention starting on Monday and running through Thursday, when presidential candidate Donald Trump will speak.
Big banks, Netflix earnings highlight week that includes Amazon Prime Day
Corporate earnings are expected to recover this week, with more major banks releasing earnings on Monday and reports from financial companies throughout the week. Airlines, consumer goods makers and media companies are also due to report results this week.
Goldman Sachs is due to report first-quarter profits on Monday that beat analyst expectations by a wide margin on strong revenue from its investment-banking division, while BlackRock’s earnings will show whether the firm has built on record assets under management (AUM) it reported last quarter.
Bank earnings continue on Tuesday with Bank of America and Morgan Stanley reporting better-than-expected first-quarter profits and releasing financial statements, and American Express reporting earnings on Friday.
Other financial services companies reporting earnings this week include Charles Schwab, PNC Financial, State Street, U.S. Bancorp, Fifth Third Bancorp, Huntington Bancshares and Regions Financial.
Investors will also be keeping an eye on earnings from other big companies: Dow Jones Industrial Average component UnitedHealth reports earnings on Tuesday, while Johnson & Johnson reports on Wednesday after the consumer goods maker reported a sales slump in its first-quarter results.
Netflix’s report on Thursday came after the company issued a weak outlook for its latest quarter, while TSMC’s financial report came after the company reported a 33% increase in June revenue.
Tuesday and Wednesday will also see Amazon Prime Day, the e-commerce giant’s 10th annual summer sales event. Last year, Amazon recorded its highest single-day sales ever on the first day of the event.
