Nearly one in ten S&P 500 companies report results this week as first-quarter earnings season gets under way. Analysts' consensus forecast is for 5% year-over-year earnings per share growth by the index.
Goldman Sachs and Charles Schwab will be among Monday's highlights, followed by Bank of America, Johnson & Johnson, Morgan Stanley, United Airlines Holdings, and UnitedHealth Group on Tuesday.
Abbott Laboratories, ASML Holding, and Prologis are scheduled to report on Wednesday. Netflix and Taiwan Semiconductor Manufacturing will go on Thursday, then American Express, Procter & Gamble, and Schlumberger close the week on Friday.
Highlights on the economic calendar this week will include the Census Bureau's retail sales report for March on Monday, the Federal Reserve's third beige book of the year on Wednesday, and the Conference Board's Leading Economic Index for March on Thursday. There will also be a bevy of data on the U.S. housing market.
Monday 4/15
Charles Schwab, Goldman Sachs Group, and M&T Bank report quarterly results.
Monday is the deadline for filing 2023 tax returns.
The Census Bureau reports its advance estimate of retail and food service sales for March. Consensus estimate is for retail sales to increase 0.4% month over month to $704 billion, after a 0.6% gain in February, accroding to Dow Jones. Excluding autos, retail sales are expected to rise 0.3%, two-tenths of a percentage point less than previously.
The National Association of Home Builders releases its Housing Market Index for April. Economists forecast a 51 reading, matching the March figure.
Tuesday 4/16
Bank of America, Bank of New York Mellon, J.B. Hunt Transport Services, Johnson & Johnson, Morgan Stanley, Northern Trust, Omnicom Group, PNC Financial Services Group, United Airlines Holdings, and UnitedHealth Group release earnings.
The Census Bureau reports new residential construction data for March. The consensus call is for a seasonally adjusted annual rate of 1.5 million privately owned housing starts, slightly less than in February.
Wednesday 4/17
Abbott Laboratories, ASML Holding, Citizens Financial Group, Crown Castle, CSX, Discover Financial Services, Equifax, Kinder Morgan, Las Vegas Sands, Prologis, Travelers, and U.S. Bancorp announce quarterly results.
The Fed releases the beige book for the third of eight times this year. The report gathers anecdotal information on current economic conditions from the 12 regional banks.
Thursday 4/18
Blackstone, D.R. Horton, Elevance Health, Genuine Parts, Intuitive Surgical, KeyCorp, Marsh & McLennan, Netflix, Snap-On, and Taiwan Semiconductor Manufacturing hold conference calls to discuss quarterly results.
The Conference Board releases its Leading Economic Index for March. Expectations are for a 0.1% month-over-month drop. The LEI increased 0.1% in February, ending a streak of 23 consecutive monthly declines.
The National Association of Realtors reports existing-home sales for March. Consensus estimate is for a seasonally adjusted annual rate of 4.2 million homes sold, 180,000 less than previously. Existing-home sales unexpectedly jumped 9.5% in February, the largest percentage increase in a year.
Friday 4/19
American Express, Fifth Third Bancorp, Huntington Bancshares, Procter & Gamble, Regions Financial, and Schlumberger release earnings.