Bank Earnings Roll In as Trump Meets With Putin

BAC and BLK will kick off a busy week of financial earnings

by Karee Venema

Published on Jul 12, 2018 at 3:41 PM

Although we're smack in the middle of the dog days of summer, there's plenty of action to keep Wall Street on its toes next week. In addition to a highly anticipated summit between U.S. President Donald Trump and Russian President Vladimir Putin on Monday, Fed Chair Jerome Powell will head to Capitol Hill on Tuesday for his two-day congressional testimony. What's more, second-quarter earnings season starts to heat up, with another round of big banks and blue chips slated to report.

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.

It's going to be a busy start to the week, with retail sales, the Empire State manufacturing survey, and business inventories all due on Monday, July 16. Additionally, traders will be keeping a close eye on a meeting between U.S. President Donald Trump and Russian President Vladimir Putin.

Earnings from financial firms will continue to pour in, with Bank of America (BAC) and BlackRock (BLK) set to report. Netflix (NFLX) and J.B. Hunt (JBHT) will also unveil earnings.

On Tuesday, July 17, Wall Street will see updates on industrial production and the National Association of Home Builders (NAHB) housing market index, while Treasury International Capital (TIC) data will be released right at the market close. Fed Chair Jerome Powell will testify in front of the Senate Banking Committee.

Dow components Goldman Sachs (GS), Johnson & Johnson (JNJ), and UnitedHealth (UNH) will report earnings. ADTRAN (ADTN), Charles Schwab (SCHW), CSX (CSX), Kinder Morgan (KMI), Progressive (PGR), and United Continental (UAL) will step into the earnings confessional, as well.

In addition to housing starts, the weekly crude inventories update, and the Fed's Beige Book, Wednesday, July 18, will also mark Powell's second day of congressional testimony -- with the head of the central bank slated to speak before the House Financial Services Committee. American Express (AXP), IBM (IBM), Abbott Laboratories (ABT), Alcoa (AA), eBay (EBAY), Morgan Stanley (MS), Textron (TXT), and United Rentals (URI) will be in the earnings spotlight.

Weekly jobless claims and the Philadelphia Fed business outlook survey will be released on Thursday, July 19. Earnings from Microsoft (MSFT), Travelers (TRV), Bank of New York Mellon (BK), Capital One Financial (COF), Domino's Pizza (DPZ), E*TRADE Financial (ETFC), Fifth Third (FITB), Intuitive Surgical (ISRG), Nucor (NUE), Philip Morris (PM), Skechers (SKX), Skyworks Solutions (SWKS), and Union Pacific (UNP) are due.

The Baker-Hughes rig count is the lone economic report slated for Friday, July 20. Baker Hughes (BHGE), Cleveland-Cliffs (CLF), General Electric (GE), Honeywell (HON), Kansas City Southern (KSU), Schlumberger (SLB), Stanley Black & Decker (SWK), SunTrust Banks (STI), and VF Corp (VFC) will round out the week's earnings lineup.

These 2 Airline Stocks are Thanksgiving Week Winners
History suggests both stocks could revisit record highs next week
Keysight Stock Nears Historically Bullish Trendline
KEYS could move after earnings next week
Kohl's Stock Could Catch a Lift Next Week
The stock tends to outperform the week of Black Friday
From Schaeffer's Pro Traders
Weekly Options Secrets Revealed

Direct from our Schaeffer's traders, your FREE guide to winning with weekly options!


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories

Critical Warning from Rogue Economist
Evidence of a looming financial crisis may be growing, according to Harry Dent.
Natural Gas Prices Spark Heavy Trading on UNG, CHK, and AR
Natural gas ETF UNG is surging to new highs
Downgraded Penny Stock Hits Record Low
The brokerage firm said "compelling" evidence is needed to convince investors
Critical Warning from Rogue Economist
Evidence of a looming financial crisis may be growing, according to Harry Dent.