Second-quarter earnings season will be investors' main focus this week. Around 50 S&P 500 companies are scheduled to report.
BlackRock and Goldman Sachs will be Monday's highlights, followed by Bank of America, Morgan Stanley, and UnitedHealth Group on Tuesday.
ASML Holding, Johnson & Johnson, Prologis, and United Airlines Holdings release results on Wednesday. D.R. Horton, Domino's Pizza, Netflix, and Taiwan Semiconductor Manufacturing go on Thursday. Then American Express, Halliburton, and SLB close the week on Friday.
Economic reports to watch this week will include the Census Bureau's retail sales data for June on Tuesday, the Federal Reserve's latest beige book on Wednesday, and the Conference Board's Leading Economic Index for June on Thursday.
Finally, the European Central Bank will publish a monetary policy decision on Thursday. The ECB is widely expected to keep its target interest rate unchanged at 3.75%, after cutting it by a quarter of a percentage point in June.
Monday 7/15
BlackRock and Goldman Sachs Group report quarterly results.
Tuesday 7/16
Bank of America, J.B. Hunt Transport Services, Morgan Stanley, Omnicom Group, PNC Financial Services Group, State Street, and UnitedHealth Group announce earnings.
The Census Bureau reports retail sales data for June. Consensus estimate is for retail spending to decline 0.1% month over month, after a 0.1.% increase in May. Excluding autos, sales are expected to increase 0.2% compared with a 0.1% drop previously.
The National Association of Home Builders releases its Housing Market Index for July. Expectations are for a 43 reading, matching the June data.
Wednesday 7/17
ASML Holding, Citizens Financial Group, Crown Castle, Discover Financial Services, Elevance Health, Equifax, Johnson & Johnson, Kinder Morgan, Northern Trust, Prologis, Steel Dynamics, Synchrony Financial, United Airlines Holdings, and U.S. Bancorp release quarterly results.
The Census Bureau releases new residential construction data for June. Economists forecast a seasonally adjusted annual rate of 1.31 million privately-owned housing starts, about 30,000 more than in May. Housing starts are at their lowest level in nearly four years.
The Federal Reserve releases the beige book for the fifth of eight times this year. The report gathers anecdotal information on current economic conditions from the 12 regional banks.
Thursday 7/18
Abbott Laboratories, Blackstone, Cintas, D.R. Horton, Domino's Pizza, Intuitive Surgical, KeyCorp, M&T Bank, Marsh & McLennan, Netflix, Novartis, Taiwan Semiconductor Manufacturing, and Textron hold conference calls to discuss earnings.
The European Central Bank announces its monetary policy decision. The ECB is widely expected to keep its key short-term interest rate unchanged at 3.75%. The central bank cut interest rates by a quarter of a percentage point at its early June meeting, the first rate cut since 2019.
The Conference Board releases its Leading Economic Index for June. The consensus call is for a 0.3% month-over-month decline, following a 0.5% drop in May.
Friday 7/19
American Express, Fifth Third Bancorp, Halliburton, Huntington Bancshares, Regions Financial, SLB, and Travelers announce quarterly results.
