Wall Street week ahead: Investors to focus on Fed meet, earnings from Microsoft, Meta and Alphabet
On the Wall Street next week, investors will focus on the Federal Reserve meeting and earnings from tech giants — Microsoft, Meta Platforms and Alphabet.
The US central bank is widely expected to hike its interest rates on Wednesday to its highest level since 2001.
The earnings season is gaining momentum, and a majority of companies are reporting better results than expected.
Next week, earnings reports of following companies are slated to be released — Domino’s Pizza, Whirlpool, NXP Semiconductors, Kimberly-Clark, Microsoft, Visa, Texas Instruments, Verizon, General Electric, Alphabet, General Motors, Meta Platforms, Coca-Cola, Union Pacific, Boeing, AT&T, Chipotle, Thermo Fisher Scientific, Mastercard, AbbVie, McDonald’s, Comcast, Ford Motor, Intel, TotalEnergies SE, Bristol Myers Squibb, Exxon Mobil, Procter & Gamble, Chevron, and Centene.
Corporate events next week
Pacific Gas and Electric Company will hold an Innovation Summit on July 25. The summit will see discussions on deploying novel solutions-at scale-that bridge the gap between today’s energy system and California’s electrified and decarbonized future.
UroGen Pharma Ltd. will host a data event on July 27 focused on UGN-102 (mitomycin) for intravesical solution for patients with low-grade, intermediate-risk non-muscle invasive bladder cancer.
On Friday, US stocks closed mixed. The S&P 500 edged up by 1.47, or less than 0.1%, to 4,536.34. The Dow Jones Industrial Average added 2.51 points, or less than 0.1%, to 35,227.69. The Nasdaq composite slipped 30.50, or 0.2%, to 14,032.81.
The US dollar on Friday rose to 141.82 Japanese yen from 140.21. The euro fell to $1.1126 from $1.1127.
The 10-year treasury yield fell to 3.83% on Friday from 3.86% late Thursday. The 2-year treasury yield ticked up to 4.85% from 4.84%.
On Friday, US crude oil benchmark for September delivery rose $1.42 to $77.07 a barrel. Brent crude for September delivery rose $1.43 to $81.07 a barrel.
Gold for August delivery on Friday fell $4.30 to $1,966.60 an ounce. Silver for September delivery fell 10 cents to $24.86 an ounce.
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Download The Mint News App to get Daily Market Updates.
Updated: 23 Jul 2023, 11:23 PM IST
