Wall Street week ahead: Investors to focus on earnings of megacaps, economic reports
On the Wall Street in the week ahead, investors will focus on earnings reports of megacaps such as Microsoft, Morgan Stanley, Bank of America, IBM, Tesla and Netflix.
Investors will also watch for economic reports including the Empire Manufacturing data, the June retail sales report and home sales report.
Next week, earnings reports of following companies are slated to be released— Bank of America, Novartis, Lockheed Martin, Goldman Sachs, Morgan Stanley, Netflix, IBM, US Bancorp, United Airlines, Las Vegas Sands, Nasdaq, Johnson & Johnson, Abbott Laboratories, Taiwan Semiconductor Manufacturing, Philip Morris International, Travelers, American Airlines, Capital One, CSX, American Express, Schlumberger, AutoNation , Huntington Bancshares, and Equity LifeStyle Properties.
Corporate events next week
Dell Technologies will host a Q&A session “Ask the Experts”. Experts from the company will talk about current technology trends including artificial intelligence.
On 18-19 July, Microsoft will hold its partner event, with CEO Satya Nadella scheduled to give a keynote address. The event will cover Microsoft Cloud and AI integration across products.
Splunk Inc. will host its 14th annual user conference at The Venetian Las Vegas. The event is expected to be focused on security.
On Friday, the US stocks ended mixed. The S&P 500 slipped 4.62, or 0.1%, at 4,505.42. The Dow Jones Industrial Average rose 113.89, or 0.3%, at 34,509.03. The Nasdaq composite fell 24.87, or 0.2%, at 14,113.70.
Treasury yields rose on Friday. The 10-year treasury yield rose to 3.82% from 3.77% late Thursday. The 2-year treasury yield was at 4.73%.
On Friday, the US dollar rose to 138.83 Japanese yen from 138.02. The euro rose to $1.1233 from $1.1220.
US crude oil benchmark for August delivery fell $1.47 to $75.42 a barrel on Friday. Brent crude for September delivery fell $1.49 to $79.87 a barrel.
Gold for August delivery rose 60 cents to $1,964.40 an ounce on Friday. Silver for September delivery rose 24 cents to $25.19 an ounce.
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Updated: 16 Jul 2023, 09:42 PM IST
