Alphabet Kicks Off Busy Week of Big-Cap Earnings

The first glance at Q2 GDP will also be released

Jul 19, 2018 at 3:10 PM
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Wall Street will be anxious to get a first look at the second-quarter gross domestic product (GDP) data next Friday, especially after U.S. Treasury Secretary Steven Mnuchin recently predicted a "big ... number" on the back of Republican tax cuts. Ahead of this highly anticipated event, traders will digest an onslaught of corporate earnings reports, with a bevy of blue chips and FAANG names set to report, including Boeing Co (NYSE:BA), Facebook, Inc. (NASDAQ:FB), and Alphabet Inc (NASDAQ:GOOGL).

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.

Existing home sales are due on Monday, July 23. Earnings from Alphabet (GOOGL), Halliburton (HAL), Hasbro (HAS), PetMed Express (PETS), Steel Dynamics (STLD), Whirlpool (WHR), and Wynn Resorts (WYNN) will be released.

Tuesday, July 24, will see the release of Markit's flash composite purchasing managers index (PMI). 3M (MMM), United Technologies (UTX), Verizon (VZ), AT&T (T), Biogen (BIIB), Centene (CNC), Eli Lilly (LLY), Harley-Davidson (HOG), iRobot (IRBT), JetBlue (JBLU), Kimberly-Clark (KMB), Las Vegas Sands (LVS), Lockheed Martin (LMT), PACCAR (PCAR), Quest Diagnostics (DGX), and Sherwin-Williams (SHW) will tell all in the earnings confessional.

New home sales and the weekly crude inventories update will hit the Street on Wednesday, July 25. Boeing (BA), Coca-Cola (KO), Visa (V), Facebook (FB), Advanced Micro Devices (AMD), Ford Motor (F), Freeport-McMoRan (FCX), General Motors (GM), GrubHub (GRUB), Hilton Hotels (HLT), Mattel (MAT), Norfolk Southern (NSC), PayPal (PYPL), Qualcomm (QCOM), and United Parcel Service (UPS) are expected to report earnings.

The economic calendar heats up on Thursday, July 26, with updates on durable goods, international trade, and weekly jobless claims set for release. Intel (INTC), McDonald's (MCD), Amazon (AMZN), American Airlines (AAL), CME (CME), Chipotle (CMG), Comcast (CMCSA), Deckers Outdoor (DECK), Dunkin Brands (DNKN), Electronic Arts (EA), First Solar (FSLR), Hershey (HSY), Mastercard (MA), PulteGroup (PHM), Southwest Airlines (LUV), Spotify (SPOT), Starbucks (SBUX), Tractor Supply (TSCO), and Under Armour (UAA) will unveil earnings.

The advance reading of second-quarter gross domestic product (GDP) will be in focus on Friday, July 27, as will the University of Michigan's consumer sentiment index and the Baker-Hughes rig count. A busy week of earnings wraps up with Chevron (CVX), Exxon Mobil (XOM), Merck (MRK), AbbVie (ABBV), Phillips 66 (PSX), and Twitter (TWTR).

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