Second-quarter earnings season picks up this week, as 76 S&P 500 companies are scheduled to report.
J.B. Hunt Transport Services
will be Monday’s highlights, followed by
Chipotle Mexican Grill,
United Airlines Holdings
Wednesday will be busy, with
Johnson & Johnson,
all releasing results.
American Airlines Group,
go next on Thursday, before
International, and Schlumberger close the week on Friday.
The economic calendar this week will bring plenty of data on the state of the U.S. housing market. On Monday, the National Association of Home Builders releases its NAHB/
Housing Market Index for July, followed by the Census Bureau’s new residential construction data for June on Tuesday. Then, on Thursday, the National Association of Realtors reports existing-home sales for June. Economists on average expect a still robust housing market, but one that’s less explosively growing than earlier this year.
IBM, J.B. Hunt Transport Services,
and Zions Bancorp report quarterly results.
holds a conference call to discuss the spinoff of its Victoria’s Secret brand. The new company, to be called Victoria’s Secret, is expected to trade under the ticker VSCO on the New York Stock Exchange in early August. The remaining company will be renamed Bath & Body Works, and also have a new stock symbol, BBWI.
The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for July. Consensus estimate is for an 82 reading, slightly higher than the June data. Home builders remain quite bullish on the housing market, but the June figure was the lowest since August 2020, amid rising materials prices and supply-chain shortages.
Chipotle Mexican Grill,
Citizens Financial Group,
Philip Morris International,
Travelers, and United Airlines Holdings announce earnings.
The Census Bureau reports new residential construction data for June. Economists forecast a seasonally adjusted annual rate of 1.6 million housing starts, slightly more than the June figure.
Coca-Cola, Crown Castle International,
Johnson & Johnson, Nasdaq,
Seagate Technology Holdings,
Texas Instruments, and Verizon Communications release quarterly results.
The NAR reports existing-home sales for June. Economists forecast a seasonally adjusted annual rate of 5.8 million, matching the May figure. Existing-home sales have declined for four consecutive months.
American Airlines Group, AT&T, Biogen, Capital One Financial,
Marsh & McLennan,
Snap, Southwest Airlines, Twitter, and
hold conference calls to discuss earnings.
The Conference Board releases its Leading Economic Index for June. Consensus estimate is for a 1.1% month-over-month increase, after a 1.3% rise in May. The LEI has now surpassed its previous peak from January 2020.
The European Central Bank announces its monetary-policy decision. The central bank is widely expected to keep its key short-term interest rate unchanged at negative 0.5%. The ECB recently changed its inflation goal to 2% over the medium term instead of targeting inflation of close to, but below, 2%.
American Express, Honeywell International,
and Schlumberger report quarterly results.
Write to Nicholas Jasinski at email@example.com