Wall Street week ahead: Investors to focus on US economic data, key earnings

Stock market investors on Wall Street in the week ahead will be focusing on the US economic data including retail sales report and the industrial production data, and quarterly earnings reports from major companies such as Netflix, Goldman Sachs, Morgan Stanley, Bank of America, and Abbott Laboratories.

The investors will also be closely watching the escalating geopolitical tensions in the Middle East after Iran’s attack on Israel. An Israeli military spokesman has said that the country is prepared to do “whatever is necessary” in its defence.

ALSO READ: Indian stocks may be unfazed by Iran reprisal attacks unless Israel responds

Economic events

On April 15 (Monday), data on US retail sales for March, Empire State manufacturing survey for April, and home builder confidence index report for April are slated to be released.

On April 16 (Tuesday), the industrial production data for March and housing starts data for the same month will be declared.

US Federal Reserve Chair Jerome Powell is also scheduled to speak on the same day.

Existing home sales data for March is slated to be released on April 18 (Thursday). 


Following companies are due to report quarterly earnings in the week ahead— Goldman Sachs, Charles Schwab, M&T Bank, UnitedHealth, Johnson & Johnson, Bank of America, Morgan Stanley, Rio Tinto, United Airlines, Abbott Laboratories, U.S. Bancorp, Kinder Morgan, VinFast Auto, Las Vegas Sands, CSX, Netflix, Blackstone, Ally Financial, Taiwan Semiconductor Manufacturing, Intuitive Surgical, Procter & Gamble, and American Express.

ALSO READ: More stock market news

US markets last week

On Friday (April 12), US stocks tumbled following a mixed start to earnings season. The stock markets were also rattled by worries about potentially escalating tensions in the Middle East.

The Dow Jones Industrial Average fell 475.84 points, or 1.24 per cent, to 37,983.24. The S&P 500 lost 75.65 points, or 1.46 per cent, at 5,123.41 and the Nasdaq Composite dropped 267.10 points, or 1.62 per cent, to 16,175.09.

The US dollar fell to 153.22 yen from 153.24 Japanese yen. The euro fell to $1.0638 from $1.0726.

The yield on the 10-year Treasury fell to 4.51 per cent on Friday from 4.58 per cent late on Thursday.

Benchmark US crude oil for May delivery rose 64 cents to $85.66 per barrel on Friday. Brent crude for June delivery added 71 cents to $90.45 per barrel.

Gold for June delivery gained $1.40 to $2,374.10 per ounce. Silver for May delivery rose 8 cents to $28.33 per ounce.

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Published: 14 Apr 2024, 09:48 PM IST

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