What will drive the markets this week?
Investors weighed the latest round of corporate earnings results last week, causing a gauge of global stocks to decline for a third straight day. Meanwhile, longer-dated US yields rose after a gauge of business activity climbed. On Wall Street, the S&P 500 closed slightly higher, with the consumer staples sector up 0.75%. Procter & Gamble climbed 3.46% after the maker of products such as toothpaste and laundry detergent beat quarterly estimates and raised its sales outlook.
This week, some of the world’s largest companies, including tech giants Apple, Amazon, Google parent Alphabet, Microsoft, and Meta Platforms, will report earnings.
On Tuesday, the latest data on home prices will be released, with the Case-Shiller National Home Price Index for February, along with new and pending home sales for March. On Thursday, the Bureau of Economic Analysis (BEA) will release its advance estimate for first-quarter gross domestic product (GDP). Consumer sentiment readings from the Conference Board and University of Michigan are also expected.
On Friday, there will be a key update on inflation with the release of the Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred inflation gauge, for March.
Events expected to move the markets this week
Monday, April 24
- Coca-Cola Company (KO), Canadian National Railway (CNI), Cadence Design Systems (CDNS), Ameriprise Financial Services (AMP), Brown & Brown Inc. (BRO), Crown Holdings Inc. (CCK), and Whirlpool Corporation (WHR) report earnings
- Chicago Fed National Activity Index (Mar)
- Dallas Fed Manufacturing Index (Apr)
Tuesday, April 25
- Microsoft (MSFT), Alphabet (GOOGL), Visa (V), PepsiCo. (PEP), McDonald’s (MCD), Novartis (NVS), Danaher Corporation (DHR), United Parcel Service (UPS), Verizon Communications (VZ), Texas Instruments (TXN), NextEra Energy (NEE), Raytheon (RTX), HSBC Holdings (HSBC), General Electric (GE), Chubb Limited (CB), Fiserv (FISV), UBS (UBS), Banco Santander (SAN), Sherwin-Williams Company (SHW), 3M (MMM), Moody’s (MCO), General Motors (GM), Chipotle Mexican Grill (CMG), and Kimberly-Clark Corporation (KMB) report earnings
- S&P Case-Shiller National Home Price Index (Feb)
- FHFA House Price Index (Feb)
- New Home Sales (Mar)
- Building Permits - Final Read (Mar)
- CB Consumer Confidence Index (Apr)
- Richmond Fed Manufacturing Index (Apr)
Wednesday, April 26
- Meta Platforms (META), Thermo Fisher Scientific (TMO), Boeing (BA), American Tower Corporation (AMT), ServiceNow (NOW), Automatic Data Processing (ADP), Boston Scientific Corporation (BSX), GlaxoSmithKline (GSK), Canadian Pacific Kansas City Limited (CP), CME Group (CME), General Dynamics (GD), Edwards Lifesciences (EW), Norfolk Southern Corp. (NSC), Hess Corporation (HES), and Aflac (AFL) report earnings
- Durable Goods Orders (Mar)
- Wholesale Inventories (Mar)
- Retail Inventories (Mar)
- Goods Trade Balance (Mar)
Thursday, April 27
- Amazon (AMZN), Mastercard (MA), Eli Lilly (LLY), Merck (MRK), AbbVie (ABBV), AstraZeneca (AZN), T-Mobile (TMUS), Linde (LIN), Comcast Corporation (CMCSA), TotalEnergies (TTE), Bristol-Myers Squibb (BMY), Sanofi (SNY), Intel (INTC), Amgen (AMGN), Honeywell International (HON), Caterpillar (CAT), S&P Global (SPGI), Gilead Sciences (GILD), Mondelez International (MDLZ), Altria Group (MO), Northrop Grumman (NOC), Activision Blizzard (ATVI), The Hershey Company (HSY), and Keurig Dr. Pepper (KDP) report earnings
- U.S. Gross Domestic Product (GDP) - Advance Estimate (Q1 2023)
- Real Consumer Spending (Q1 2023)
- Pending Home Sales (Mar)
- Kansas City Fed Composite Index (Apr)
Friday, April 28
- ExxonMobil (XOM), Chevron (CVX), Sony (SONY), Charter Communications (CHTR), Aon (AON), Colgate-Palmolive (CL), and TC Energy Corporation (TRP) report earnings
- Personal Consumption Expenditures (PCE) Price Index (Mar)
- Personal Income and Spending (Mar)
- Chicago Purchasing Managers’ Index (PMI) (Mar)
- University of Michigan Consumer Sentiment Index - Final (Mar)