By Nicholas Jasinski
It will be a big week of fourth-quarter earnings, with about 90 S&P 500 companies scheduled to report. There will be plenty of notable economic data releases for investors to watch out for as well.
Highlights will include results from Microsoft, Johnson & Johnson, General Electric, Verizon Communications, and Lockheed Martin -- all on Tuesday. Wednesday will bring results from Tesla, AT&T, Boeing, and IBM. American Airlines Group, Comcast, Intel, Mastercard, Southwest Airlines, and Visa report on Thursday, then American Express, Charter Communications, and Chevron will close the week on Friday.
On Monday, the Conference Board reports its Leading Economic Index for December, then S&P Global releases both the Manufacturing and Services Purchasing Managers' Indexes for January on Tuesday. Both are expected to remain in contraction territory.
On Thursday, the Bureau of Economic Analysis will report fourth-quarter gross-domestic-product, which is expected to show a 2.5% annual rate of growth. Also on Thursday, the Census Bureau will release the durable goods report for December.
Finally, the Bureau of Economic Analysis will report personal income and outlays for December on Friday. Earnings are expected to show a 0.2% month-over-month rise, while spending is seen slipping 0.1%. The Federal Reserve's preferred inflation gauge will be part of the same report, and is forecast to be up 4.4% from a year earlier.
Monday 1/23
Baker Hughes, Brown & Brown, and Synchrony Financial report quarterly results.
The Conference Board releases its Leading Economic Index for December. Consensus estimate is for a 0.6% month-over-month decline, after a 1% drop in November.
Tuesday 1/24
Microsoft reports second-quarter fiscal-2023 results. The software giant recently announced 10,000 layoffs as part of cost-cutting measures. Analysts expect only 3% year-over-year revenue growth for the quarter, the slowest since 2016.
3M, Capital One Financial, Danaher, D.R. Horton, General Electric, Halliburton, Johnson & Johnson, Lockheed Martin, Paccar, Raytheon Technologies, Texas Instruments, Union Pacific, and Verizon Communications release earnings.
S&P Global releases both its Manufacturing and Services Purchasing Managers' Indexes for January. Economists forecast a 46.5 reading for the Manufacturing PMI and a 47.5 reading for the Services PMI. This compares with 46.2 and 44.7, respectively, in December.
Wednesday 1/25
Abbott Laboratories, Ameriprise Financial, ASML Holding, AT&T, Automatic Data Processing, Boeing, Crown Castle, CSX, Elevance Health, Freeport-McMoRan, General Dynamics, Hess, IBM, Kimberly-Clark, Lam Research, Las Vegas Sands, Nasdaq, NextEra Energy, Norfolk Southern, ServiceNow, TE Connectivity, Tesla, and U.S. Bancorp announce quarterly results.
Thursday 1/26
American Airlines Group, Archer-Daniels-Midland, Blackstone, Comcast, Dow, Intel, KLA, Marsh & McLennan, Mastercard, Northrop Grumman, Nucor, SAP, Sherwin-Williams, Southwest Airlines, Valero Energy, and Visa hold conference calls to discuss earnings.
The Bureau of Economic Analysis reports fourth-quarter gross-domestic-product growth. The economy is expected to have grown at a 2.5% annual rate, following a 3.2% increase for the third quarter.
The Census Bureau releases the durable goods report for December. The consensus call is for new orders for manufactured durable goods to increase 2.5%, to $277 billion.
Friday 1/27
American Express, Charter Communications, Chevron, Colgate-Palmolive, HCA Healthcare, and Roper Technologies report quarterly results.
The BEA reports personal income and outlays for December. Personal income is expected to rise 0.2% month over month compared with a 0.4% gain in November, while spending is seen declining 0.1% after rising 0.1% previously. The Federal Reserve's favored inflation gauge, the core personal-consumption expenditures price index, is forecast to increase 4.4% year over year, three-tenths of a percentage point less than in November.
Write to Nicholas Jasinski at nicholas.jasinski@barrons.com
(END) Dow Jones Newswires
January 22, 2023 21:15 ET (02:15 GMT)
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