The second quarter earnings season resumes this week, with 76 S&P 500 companies expected to report.
JB Hunt Transport Services
will be the highlights of Monday, followed by
Mexican Grill Chipotle,
United Airlines Holdings
Wednesday will be busy, with
Johnson & johnson,
all releasing results.
American Airlines Group,
go next Thursday, before
International and Schlumberger close the week on Friday.
This week’s economic calendar will provide plenty of data on the state of the US real estate market. On Monday, the National Association of Home Builders publishes its NAHB /
Housing Market Index for July, followed by new residential construction data from the Census Bureau for June on Tuesday. Then on Thursday, the National Association of Realtors reports existing home sales for June. Economists on average expect a housing market to remain robust, but whose growth is less explosive than at the start of the year.
IBM, JB Hunt Transport Services,
and Zions Bancorp publish quarterly results.
is holding a conference call to discuss the impact of its Victoria’s Secret brand. The new company, which will be called Victoria’s Secret, is expected to be listed under the symbol VSCO on the New York Stock Exchange in early August. The remaining company will be renamed Bath & Body Works and will also have a new ticker symbol, BBWI.
The national association of Home Builders releases its NAHB / Wells Fargo Housing Market Index for July. The consensus estimate is for a reading of 82, slightly higher than the June data. Home builders remain fairly bullish on the housing market, but the June figure was the lowest since August 2020, amid rising materials prices and supply chain shortages.
Mexican Grill Chipotle,
Citizens Financial Group,
Philip Morris International,
Travelers and United Airlines Holdings report results.
The census office reports new home construction data for June. Economists are forecasting a seasonally adjusted annual rate of 1.6 million housing starts, slightly higher than the June figure.
Coca-Cola, Crown Castle International,
Johnson & Johnson, Nasdaq,
Seagate Technology Holdings,
Texas Instruments and Verizon Communications publish their quarterly results.
NAR reports sales of existing homes for June. Economists are forecasting a seasonally adjusted annual rate of 5.8 million, matching the May figure. Sales of existing homes have declined for four consecutive months.
American Airlines Group, AT&T, Biogen, Capital One Financial,
Marsh & McLennan,
Snap, Southwest Airlines, Twitter and
hold conference calls to discuss income.
The conference council publishes its leading economic index for June. The consensus estimate is for a 1.1% month-over-month increase, after rising 1.3% in May. The LEI has now passed its previous peak of January 2020.
The European Central The bank announces its monetary policy decision. The central bank is expected to largely keep its short-term key rate unchanged at -0.5%. The ECB recently changed its medium-term inflation target to 2% instead of aiming for near, but lower, inflation of 2%.
American Express, Honeywell International,
and Schlumberger publish quarterly results.
Write to Nicholas Jasinski at [email protected]