Equities fell last week, with the S&P 500 index slipping 0.6% and the Nasdaq Composite declining 2.1%. Brent crude oil breached $100 a barrel Thursday for the first time since late May as the U.S. and Iran continued to lob verbal and physical missiles. That helped push yields on the 10-year Treasury to 4.7%, the highest since January 2025.
This week is the busiest on the second-quarter earnings calendar, with nearly one-third of S&P 500 companies reporting results, including four of the Magnificent Seven.
Boeing, Coca-Cola, and Visa will announce earnings on Tuesday, followed by Meta Platforms, Microsoft, Procter & Gamble, and Starbucks on Wednesday. Amazon.com, Apple, Bristol Myers Squibb, and Mastercard will report on Thursday, and AbbVie, Chevron, and ExxonMobil Holdings close out the week on Friday.
A two-day Federal Open Market Committee meeting will wrap up on Wednesday, and there is more uncertainty than normal heading into this confab. This is due in large part to new Fed Chair Kevin Warsh's aversion to communicating the interest-rate path to Wall Street in advance. Warsh has called inflation "a choice," and with inflation having exceeded the FOMC's target for more than five years, Wall Street is expecting at least two quarter-point rate hikes over the next year.
The key economic release this week is the personal consumption expenditures price index for June, which the Bureau of Economic Analysis will release on Thursday. The BEA will also report second-quarter gross domestic product growth later that day.
Monday 7/27
AstraZeneca, Brown & Brown, Cadence Design Systems, Cincinnati Financial, F5, Nucor, Principal Financial Group, UDR, Universal Health Services, and Welltower announce earnings.
The Census Bureau releases the durable goods report for June. Consensus estimate is for a 1.8% month-over-month increase in new orders for manufactured durable goods to $338 billion.
Tuesday 7/28
American Tower, Barclays, Boeing, BXP, Carrier Global, Centene, CenterPoint Energy, Coca-Cola, Corning, CoStar Group, Ecolab, Expand Energy, Ford Motor, GSK, Hilton Worldwide Holdings, Hubbell, Incyte, Illinois Tool Works, Invesco, KLA, Mondelez International, Omnicom Group, Paccar, PayPal Holdings, PPG Industries, Royal Caribbean Group, Seagate Technology Holdings, Sherwin-Williams, S&P Global, Skyworks Solutions, Teradyne, Textron, United Parcel Service, Visa, Waste Management, and Xylem report quarterly results.
S&P Cotality releases the Case-Shiller U.S. National Home Price Index for May. Home prices posted a 0.8% annual increase in April led by Chicago, which saw a 6.5% jump year over year. Seattle posted the lowest return, with prices declining 2.3%.
The Conference Board releases its Consumer Confidence Index for July. Economists forecast a 92.4 reading, about one point higher than in June.
Wednesday 7/29
American Water Works, Amphenol, Arm Holdings, Automatic Data Processing, Biogen, Boston Scientific, Bunge, Carvana, CBRE Group, C.H. Robinson Worldwide, Chipotle Mexican Grill, Entergy, Equinix, Fair Isaac, Fortinet, Fortive, GE HealthCare Technologies, Generac Holdings, General Dynamics, Humana, Invitation Homes, Johnson Controls International, L3Harris Technologies, Lam Research, Lennox International, Meta Platforms, MGM Resorts International, Microsoft, Old Dominion Freight Line, O'Reilly Automotive, Procter & Gamble, $Public Storage(PSA-N)$, Robinhood Markets, Qualcomm, SK Hynix, Stanley Black & Decker, Starbucks, Tyler Technologies, Vertiv Holdings, and Vulcan Materials release earnings.
The Federal Open Market Committee announces its monetary-policy decision. There is roughly a one in three chance that the FOMC raises the federal-funds rate by a quarter of a percentage point to 3.75% -- 4%, according to the CME FedWatch Tool. Softer-than-expected inflation readings for June have given the central bank some breathing room, but Wall Street sees it only as temporary, with the consensus view for an interest-rate hike by September.
Thursday 7/30
Air Products & Chemicals, Altria Group, Amazon.com, American Electric Power, Apple, A.O. Smith, Arthur J. Gallagher, Bristol Myers Squibb, Builders FirstSource, Cigna, Coinbase Global, Corteva, DexCom, Edison International, First Solar, GoDaddy, Hershey, Huntington Ingalls Industries, Ingersoll Rand, Intercontinental Exchange, International Paper, KKR, Labcorp Holdings, Live Nation Entertainment, Martin Marietta Materials, Mastercard, Monolithic Power Systems, Norwegian Cruise Line Holdings, Quanta Services, Regeneron Pharmaceuticals, Sanofi, Shell, Southern Co., Stryker, Trane Technologies, Valero Energy, Weyerhaeuser, and Yum! Brands announce quarterly results.
The Bureau of Economic Analysis releases the personal consumption expenditures price index for June. Economists forecast a 3.7% year-over-year increase, four-tenths of a percentage point less than in May. The core PCE price index, which excludes volatile food and energy prices, is expected to rise 3.3%, compared with 3.4% previously.
The BEA reports its advance estimate of second-quarter gross-domestic-product growth. The consensus call is for the economy to have growth at a seasonally adjusted annual rate of 2.1%, matching the first quarter.
Friday 7/31
AbbVie, Ares Management, Cboe Global Markets, Chevron, Colgate-Palmolive, Dominion Energy, ExxonMobil Holdings, Franklin Resources, Linde, LyondellBasell Industries, Moderna, and T. Rowe Price Group report earnings.
Write to Dan Lam at dan.lam@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
July 26, 2026 14:00 ET (18:00 GMT)
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