Wall Street Waits for Apple Earnings, Fed Meeting, Jobs Data

The Fed-watched employment cost index will also be released

by Karee Venema

Published on Jul 25, 2019 at 11:37 AM

Wall Street is ready to barrel into August with jam-packed economic and earnings calendars. In addition to an onslaught of jobs data -- culminating in the Friday release of July's nonfarm payrolls report -- traders will be watching Wednesday's policy announcement from the Fed, with the market currently pricing in a quarter-point rate cut.

Meanwhile, Apple (AAPL) highlights another busy stretch of blue-chip earnings, while oil majors Chevron (CVX) and Exxon Mobil (XOM) will report on Friday. Other notable names telling all in the earnings confessional are Detroit darling General Motors (GM) and former Dow component General Electric (GE), as well as Seagate Technology (STX), with the stock surging more than 7% the day after the data storage specialist's April earnings 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.

The Dallas Fed manufacturing survey will be released on Monday, July 29. AK Steel (AKS), Beyond Meat (BYND), Illumina (ILMN), National-Oilwell Varco (NOV), and Transocean (RIG) will report earnings.

The Federal Open Market Committee (FOMC) will kick off its two-day policy setting meeting on Tuesday, July 30. Personal income and spending data, the S&P CoreLogic Case-Shiller home price index, consumer confidence, and pending home sales are also on the docket.

Blue chips Apple (AAPL), Merck (MRK), Pfizer (PFE), and Procter & Gamble (PG) will step up to the earnings plate. Quarterly results from Akamai Technologies (AKAM), Altria (MO), D. R. Horton (DHI), Electronic Arts (EA), FireEye (FEYE), MasterCard (MA), Mondelez (MDLZ), Ralph Lauren (RL), and Under Armour (UAA) are due.

Wednesday, July 31, brings the ADP private payrolls report, the employment cost index, the Chicago purchasing managers index (PMI), and the weekly crude inventories update. However, all eyes will likely be on the 2 p.m. ET release of the FOMC policy announcement, which will be followed by a press conference from Fed Chair Jerome Powell.

Bloomin' Brands (BLMN), Fiat Chrysler (FCAU), Fitbit (FIT), General Electric (GE), Humana (HUM), Meritor (MTOR), Molson Coors Brewing (TAP), SunPower (SPWR), and Sturm Ruger (RGR) will unveil earnings. Tech names Cirrus Logic (CRUS) and Qualcomm (QCOM) will also report.

Weekly jobless claims, the IHS Markit manufacturing PMI, the Institute for Supply Management (ISM) manufacturing index, and construction spending will be in focus on Thursday, Aug. 1. Earnings reports from Clorox (CLX), Fortinet (FTNT), General Motors (GM), GoPro (GPRO), Kellogg (K), Kraft Heinz (KHC), Qorvo (QRVO), Sprouts Farmers Market (SFM), U.S. Steel (X), Universal Display (OLED), and Yum! Brands (YUM) will be released.

The July jobs report will highlight a busy morning on Friday, Aug. 2, with international trade data, the University of Michigan's consumer sentiment survey, and factory orders also set for release. Chevron (CVX), Exxon Mobil (XOM), Arconic (ARNC), Newell Brands (NWL), and Seagate Technology (STX) will report earnings.


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