Next week will be a relatively quiet one in terms of economic data, though the National Association of Home Builders' (NAHB) index is due out. Investors will also have another round of jobs and house sales data to digest as the month of July progresses. Earnings season is starting to pick up steam, too, with several big names scheduled to release their quarterly reports, including American Express (AXP), Biogen (BIIB), Chipotle Mexican Grill (CMG), Coca-Cola (KO), Intel (INTC), Johnson & Johnson (JNJ), Netflix  (NFLX), Travelers (TRV), United Airlines (UAL), and Verizon (VZ). 

Below is a list of key market events scheduled for the upcoming week. All economic dates listed below are tentative and subject to change.

Monday, July 19 will bring the NAHB index. 

Data on building permits and housing starts will be released on Tuesday, July 20. 

The economic calendar looks bare on Wednesday, July 21, with no relevant data set to come out.

Things will pick back up on Thursday, July 22, with initial and continuing jobless claims, existing home sales data, and the index of leading economic indicators.  

Friday, July 23 wraps up with the Markit manufacturing purchasing managers' index (PMI), as well as the services PMI. 

Today will be packed with activity, including a monthly report from OPEC, data on import and export prices for June, the Empire state manufacturing index, the Philly Fed manufacturing index, industrial production data, and another round of weekly jobless claims.  

The following companies are slated to release quarterly earnings today, July 15:

The Bank of New York Mellon Corp. (NYSE:BK -- $49.28) provides a range of financial products and services in the United States and internationally. Bank of New York Mellon will report its Q2 earnings of 2021 before the bell today.

Cintas Corp. (NASDAQ:CTAS -- $378.95) provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. Cintas will report its Q4 earnings of 2021 before the bell today.

Home Bancshares Inc. (NASDAQ:HOMB -- $23.45) operates as the bank holding company for Centennial Bank that provides commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals, and municipalities. Home Bancshares will report its Q2 earnings of 2021 before the bell today.

Morgan Stanley (NYSE:MS -- $92.46) provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Europe, the Middle East, Africa, and Asia. Morgan Stanley will report its Q2 earnings of 2021 before the bell today.

Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM -- $124.39) manufactures and sells integrated circuits and semiconductors. Taiwan Semiconductor will report its Q2 earnings of 2021 before the bell today.

Truist Financial Corp. (NYSE:TFC -- $54.43) provides banking and trust services in the Southeastern and Mid-Atlantic United States. Truist will report its Q2 earnings of 2021 before the bell today.

U.S. Bancorp. (NYSE:USB -- $56.99) provides various financial services in the United States. U.S. Bancorp will report its Q2 earnings of 2021 before the bell today.

UnitedHealth Group Inc. (NYSE:UNH -- $414.74) operates as a diversified health care company in the United States. UnitedHealth will report its Q2 earnings of 2021 before the bell today.

WNS (Holdings) Ltd. (NYSE:WNS -- $80.96) provides a range of financial products and services in the United States and internationally. WNS will report its Q1 earnings of 2022 before the bell today.

Westamerica Bancorp. (NASDAQ:WABC -- $55.62) operates as a bank holding company for the Westamerica Bank that provides various banking products and services to individual and commercial customers. Westamerica will report its Q2 earnings of 2021 during trading hours today.

Alcoa Corp. (NYSE:AA -- $35.14) produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. Alcoa will report its Q2 earnings of 2021 after the market closes today.

American Outdoor Brands Inc. (NASDAQ:AOUT -- $33.90) provides outdoor products and accessories for rugged outdoor enthusiasts in the United States and internationally. American Outdoor Brands will report its Q2 earnings of 2021 after the market closes today.

Marten Transport Ltd. (NASDAQ:MRTN -- $16.76) operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico. Marten Transport will report its Q2 earnings of 2021 after the market closes today.

People's United Financial Inc. (NASDAQ:PBCT -- $16.46) operates as the bank holding company for People's United Bank, National Association that provides commercial banking, retail banking, and wealth management services to individual, corporate, and municipal customers. People's United Financial will report its Q2 earnings of 2021 after the market closes today.

Western Alliance Bancorp. (NYSE:WAL -- $96.22) operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. Western Alliance will report its Q2 earnings of 2021 after the market closes today.

Here is a quick look at how yesterday's earnings reports compared to Wall Street's expectations:

Bank of America Corp. (NYSE:BAC -- $28.41) provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Bank of America reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.26. The company had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $21.77 billion.

BlackRock Inc. (NYSE:BLK -- $908.07) is a publicly owned investment manager. BlackRock reported $10.03 earnings per share for the quarter, topping the consensus estimate of $9.09 by $0.94. The business earned $4.82 billion during the quarter, compared to the consensus estimate of $4.61 billion.

Citigroup Inc. (NYSE:C -- $68.37) provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. Citigroup reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.99 by $0.86. The business had revenue of $17.50 billion for the quarter, compared to analysts' expectations of $17.18 billion.

Delta Air Lines Inc. (NYSE:DAL -- $41.33) provides scheduled air transportation for passengers and cargo in the United States and internationally. Delta Air Lines reported ($1.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.38) by $0.31. The firm had revenue of $7.13 billion for the quarter, compared to analysts' expectations of $6.25 billion.

The PNC Financial Services Group Inc. (NYSE:PNC-- $189.28) operates as a diversified financial services company in the United States. PNC reported $2.43 EPS for the quarter, missing the consensus estimate of $2.77 by $0.34. The firm had revenue of $4.67 billion for the quarter, compared to analysts' expectations of $4.40 billion.

Wells Fargo & Co. (NYSE:WFC-- $43.23) is a diversified, community-based financial services company. Wells Fargo reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.41. The firm had revenue of $20.27 billion for the quarter, compared to analysts' expectations of $17.69 billion.

Looking ahead to tomorrow, Friday will wrap up the week, with data on retail sales, business inventories, and the consumer sentiment index on tap. 

All economic dates listed here are tentative and subject to change.

** Bernie Schaeffer's Event Trader portfolio has doubled in value (ROI of  +109.72%) over the past six months by simply placing simple put and call option buying trades! Compare that to the S&P 500 that has only returned 11.93% over the same timeframe. Schaeffer's Investment Research is celebrating our 40th year in business this month! Join in us in celebrating by taking Event Trader out for a spin for 30 days for just $4 by clicking here before the end of the week! **

The producer price index (PPI) for June, and the latest Beige Book report are due out today. 

The following companies are slated to release quarterly earnings today, July 14:

Bank of America Corp. (NYSE:BAC -- $28.41) provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Bank of America will report its Q2 earnings of 2021 before the bell today.

BlackRock Inc. (NYSE:BLK -- $908.07) is a publicly owned investment manager. BlackRock will report its Q2 earnings of 2021 before the bell today.

Citigroup Inc. (NYSE:C -- $68.37) provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. Citigroup will report its Q2 earnings of 2021 before the bell today.

Delta Air Lines Inc. (NYSE:DAL -- $41.33) provides scheduled air transportation for passengers and cargo in the United States and internationally. Delta Air Lines will report its Q2 earnings of 2021 before the bell today.

The PNC Financial Services Group Inc. (NYSE:PNC-- $189.28) operates as a diversified financial services company in the United States. PNC will report its Q2 earnings of 2021 before the bell today.

Wells Fargo & Co. (NYSE:WFC-- $43.23) is a diversified, community-based financial services company. Wells Fargo will report its Q2 earnings of 2021 before the bell today.

Here is a quick look at how yesterday's earnings reports compared to Wall Street's expectations:

Conagra Brands Inc. (NYSE:CAG -- $35.93) operates as a consumer packaged goods food company in North America. Conagra reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm earned $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion.

Fastenal Co. (NASDAQ:FAST -- $54.02) engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. Fastenal reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.01. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion.

First Republic Bank (NYSE:FRC -- $196.99) provides private banking, private business banking, and private wealth management services to clients in metropolitan areas in the United States. First Republic Bank reported $1.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.73 by $0.22.

Goldman Sachs Group Inc. (NYSE:GS -- $380.50) provides range of financial services for corporations, financial institutions, governments, and individuals worldwide. Goldman Sachs reported $15.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.20 by $5.82. The business had revenue of $15.39 billion for the quarter, compared to analysts' expectations of $12.17 billion.

JPMorgan Chase & Co. (NYSE:JPM -- $158.00) is a financial holding company. It provides financial and investment banking services worldwide. JPMorgan Chase reported $3.78 earnings per share for the quarter, beating analysts' consensus estimates of $3.09 by $0.69. The firm had revenue of $30.50 billion for the quarter, compared to analysts' expectations of $29.71 billion.

PepsiCo Inc. (NASDAQ:PEP -- $149.51) operates as a food and beverage company worldwide. PepsiCo reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.19. The firm had revenue of $19.22 billion for the quarter, compared to analysts' expectations of $17.95 billion.

Washington Federal Inc. (NASDAQ:WAFD -- $31.25) operates as the bank holding company for Washington Federal Bank, National Association that provides lending, depository, insurance, and other banking services in the United States. Washington Federal reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.10. The firm had revenue of $141.82 million for the quarter, compared to the consensus estimate of $136.97 million.

Looking ahead to tomorrow, Thursday will be packed with activity, including a monthly report from OPEC, data on import and export prices for June, the Empire state manufacturing index, the Philly Fed manufacturing index, industrial production data, and another round of weekly jobless claims.  

All economic dates listed here are tentative and subject to change.

** Bernie Schaeffer's Event Trader portfolio has doubled in value (ROI of  +109.72%) over the past six months by simply placing simple put and call option buying trades! Compare that to the S&P 500 that has only returned 11.93% over the same timeframe. Schaeffer's Investment Research is celebrating our 40th year in business this month! Join in us in celebrating by taking Event Trader out for a spin for 30 days for just $4 by clicking here before the end of the week! **

The shares of Yeti Holdings Inc (NYSE:YETI) are outperforming the broader market, up more than 33% year-to-date. The equity has been trending higher over the past 12 months as well -- given its over 118% year-over-year lead -- and now sits above its pre-earnings close around the $90 mark, which is five times its initial public offering (IPO) price. With these factors in mind, we are recommending a new long position on YETI stock.

The security looks ripe for a short squeeze, too, which could push shares higher still. The 5.98 million shares sold short make up a significant 7.3% of the stock’s available float. It would take nearly a week to buy back these bearish bets, at YETI’s average daily pace of trading.
 
Additional tailwinds could come from a shift in the options pits, which lean bearish. This is per YETI’s 50-day put/call volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands in the 95th percentile of its annual range. This suggests long puts have been more popular than usual over the past 10 weeks.
 
Now may be the perfect time to buy YETI premiums, which are affordably priced at the moment. The equity's Schaeffer's Volatility Index (SVI) of 41% sits in the 14th percentile of readings from the past year, indicating options players are currently pricing in low volatility expectations. Our recommended call has a leverage ratio of 4.6, and will double in value on a rise of 22.8% in the underlying security.

Subscribers to Schaeffer's Weekend Trader options recommendation service received this YETI commentary on Sunday night, along with a detailed options trade recommendation -- including complete entry and exit parameters. Learn more about why Weekend Trader is one of our most popular options trading services.