All Eyes on Fed Meeting, FAANG Earnings

The Fed could enact its biggest interest rate in decades next week

Digital Content Manager
Jul 21, 2022 at 11:46 AM
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The last week of July could bring a major interest rate decision from the U.S. Federal Reserve, with many expecting a full-basis point hike after a red-hot consumer price index (CPI) reading for June. A slew of inflation data is on tap later in the week to boot, forcing traders to divide their attention as a slew of big-name corporate earnings rolls in as well.

The earnings docket looks packed, with reports coming from 3M (MMM), Alphabet (GOOGL), Amazon.com (AMZN), Archer-Daniels-Midland (ADM), Apple  (AAPL), Boeing (BA), Chipotle Mexican Grill (CMG), Chevron (CVX), CME Group (CME), Coca-Cola (KO), General Electric (GE), General Motors (GM), McDonald's (MCD), Merck (MRK), Microsoft (MSFT), Newmont (NEM), Pfizer (PFE), Qualcomm (QCOM), Raytheon Technologies (RTX), Shopify (SHOP), Spotify (SPOT), Teladoc (TDOC), Texas Instruments (TXN), T-Mobile US (TMUS), United States Steel (X), United Parcel Service (UPS), and Visa (V).

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 25 brings the Chicago Fed national activity index.

The Fed meeting kicks off today, Tuesday, July 26, while the S&P Case-Shiller national home price index, the consumer confidence index, and home sales data are also due out.

Federal Chairman Jerome Powell will hold a press conference on Wednesday, July 27, after the announcement of the Fed funds target rate. Durable goods, core capital equipment, and trade in goods orders are also on tap, in addition to the pending home sales index.

Initial and continuing jobless data will roll in on Thursday, July 28, with gross domestic product (GDP) data set to come out as well.

The week will end in a colossal batch of economic indicators. Personal consumption expenditures (PCE) and core PCE are due out on Friday, July 29, and will accompany real disposable and nominal personal income, as well as real and nominal consumer spending. The Chicago purchasing managers' index (PMI) and the employment cost index are expected later that day, too, and the University of Michigan (UM) will also release both its final consumer sentiment and five-year inflation expectations. 

 

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