The Week Ahead: Fed Decision Due; Apple, Facebook Highlight Tech Earnings

Outside of the Federal Open Market Committee's (FOMC) policy decision, traders will digest earnings from Apple Inc. (AAPL) and Facebook Inc (FB)

by Josh Selway

Published on Jul 21, 2016 at 9:59 AM

Wall Street is in for a huge week in terms of economic reports, while the earnings calendar will heat up considerably. The Federal Open Market Committee's (FOMC) July meeting kicks off Tuesday, with the subsequent policy decision due out Wednesday afternoon. Plus, gross domestic product (GDP) data is due out Friday.

Throughout the week are a raft of major earnings announcements, with blue-chip stocks Apple Inc. (NASDAQ:AAPL), 3M Co (NYSE:MMM), and McDonald's Corporation (NYSE:MCD) helping to get the party started on Tuesday. Traders will also digest earnings from tech heavyweights Alphabet Inc (NASDAQ:GOOGL), Amazon.com, Inc. (NASDAQ:AMZN), and Facebook Inc (NASDAQ:FB), with oil stocks Chevron Corporation (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM) rounding out the week. 

Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates.

Monday, July 25

The Dallas Fed manufacturing survey leads off the economic data. Express Scripts (ESRX), Gilead Sciences (GILD), Kimberly-Clark (KMB), Las Vegas Sands (LVS), Philips (PHG), Sprint (S), and Texas Instruments (TXN) are scheduled to report earnings.   

Tuesday, July 26

The FOMC will begin its two-day meeting. Also on tap are the S&P/Case-Shiller home price index, new home sales, Markit's flash purchasing managers index (PMI), and the Conference Board's consumer confidence survey. 
 
Looking to earnings, MMM, AAPL, Caterpillar (CAT), DuPont (DD), MCD, United Technologies (UTX), Verizon (VZ)AK Steel (AKS), BP (BP), Buffalo Wild Wings (BWLD), Citrix Systems (CTXS), Edwards Lifesciences (EW), Eli Lilly (LLY), EXACT Sciences (EXAS), Freeport-McMoRan (FCX), Illumina (ILMN), JetBlue (JBLU), Juniper Networks (JNPR), Mobileye (MBLY), Panera Bread (PNRA), Reynolds American (RAI), Sirius XM (SIRI), Starwood Hotels (HOT), Twitter (TWTR), Under Armour (UA), and United States Steel (X) will all report.  

Wednesday, July 27

The Fed's policy decision will be released on Wednesday, as will durable goods orders, pending home sales, and weekly crude inventories.
 
Reporting earnings will be Boeing (BA), Coca-Cola (KO), Amgen (AMGN), Angie's List (ANGI), Anthem (ANTM), Barrick Gold (ABX)Cabot (CBT), Cheesecake Factory (CAKE), Cirrus Logic (CRUS), Comcast (CMCSA), Corning (GLW), Dr Pepper Snapple (DPS), FB, Fiat Chrysler (FCAU), Garmin (GRMN), GoPro (GPRO), Groupon (GRPN), Hilton Hotels (HLT), Lumber Liquidators (LL), Marriott (MAR), McKesson (MCK)Mondelez (MDLZ), Murphy Oil (MUR), Norfolk Southern (NSC), Northrop Grumman (NOC), O'Reilly Auto (ORLY), Six Flags (SIX), Southern (SO), Waste Management (WM), and Whole Foods (WFM)

Thursday, July 28

Weekly jobless claims and international trade data will be released on Thursday. 

GOOGL, AMZN, Aflac (AFL), AstraZeneca (AZN)Baidu (BIDU)Baker Hughes (BHI), Boston Scientific (BSX), Bristol-Myers Squibb (BMY), CBS (CBS), Celgene (CELG)Cliffs Natural Resources (CLF), Colgate-Palmolive (CL), ConocoPhillips (COP), Dow Chemical (DOW), Expedia (EXPE), Ford (F), GrubHub (GRUB), Harley-Davidson (HOG), Hershey (HSY), LendingTree (TREE), MasterCard (MA), Raytheon (RTN), Western Digital (WDC), World Wrestling Entertainment (WWE), and Yamana Gold (AUY) are all due up for earnings.


Friday, July 29

Advance second-quarter GDP data, the employment cost index (ECI), the Chicago PMI, and the Thomson Reuters/University of Michigan consumer sentiment index make up the economic calendar for Friday. San Francisco Fed President John Williams and Dallas Fed President Rob Kaplan are also set to speak. 

CVX, XOM, Merck (MRK), AbbVie (ABBV), Anheuser-Busch (BUD), LyondellBasell (LYB), Phillips 66 (PSX), Sony (SNE), Spirit Airlines (SAVE), United Parcel Service (UPS), and Xerox (XRX) are scheduled to reveal earnings. 

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