At 156, this is the busiest week of the earnings season
S & P 500
Components report on their second quarter results.
and a number of drug makers – including
Report on Tuesday.
are the highlights of the Wednesday, followed by
on Thursday. Oil majors
The week ends on Friday.
The week's most important event will be the July meeting of the Federal Open Market Committee, where the market fully expects policymakers to cut interest rates. The opinion of the committee will be published at 14.00. on Wednesday, followed by a press conference with Federal Reserve Chairman Jerome Powell at 2.30pm. Other releases include the July Conference Bureau for Consumer Confidence on Tuesday, the July Institute for Supply Management Manufacturing PMI for July, and the Bureau of Labor Statistics July earnings and hourly wages on Friday.
Managers Group, Illumina
Vornado Realty Trust
Report quarterly results.
modern micro devices
Procter & Gamble
and Under Armor publish revenue.
A US delegation led by Treasury Secretary Steven Mnuchin travels to Shanghai to speak with their Chinese counterparts about the ongoing trade war between the world's two largest economies.
The Bank of Japan announces its monetary policy decision. It is generally expected that the central bank will keep its policy rate at minus 0.1%.
BB & T
will hold special general meetings in Atlanta and Greensboro, NC. Shareholders are invited to approve the proposed merger of the two regional banks. The combined company would be the sixth largest bank in the US and is called Truist Financial.
The Conference Board announces its Consumer Confidence Index for July. Economists forecast a value of 125.4 against 121.5 in June.
The National Association of Realtors releases its Pending Home Sales Index for June. Consensus estimates assume a 0.5% increase in outstanding sales, after a rise of 1.1% in May.
Automatic data processing
Equinix General Electric Humana
and Qualcomm report on the quarterly results.
ADP publishes its National Employment Report for July. Following a growth of 102,000 in June, private sector employment is expected to increase by 155,000.
ISM-Chicago announces the Chicago Purchasing Managers Index for July. Economists forecast a rebound to 51.7 from 49.7 in June, the first value under 50 since January 2017.
General Motors Intercontinental Exchange
Royal Dutch seashell
and Yum! Brands hosts conference calls to discuss the quarterly results.
The Institute for Supply Management publishes its manufacturing index for July. Consensus estimates refer to 52 values, compared to 51.7 in June.
Census Bureau Announces June Construction Construction Data. Expectations of 0.5% increase after a decline of 0.8% in May.
Cboe Global Markets
LyondellBasell Industries and
Revenue from the release of energy.
The Bureau of Labor Statistics publishes the job reports for July. After a rise of 224,400 in June, economists forecast an increase in non-farm employment by 160,000. The unemployment rate remains unchanged at 3.7%.
Highlight of the Week
Wednesday, 31. The FOMC announces its monetary policy decision. Wall Street has already priced in a 25bp rate cut to 2% to 2.25%.
– Robert Teitelman and Dan Lam