It is going to be a busy week of first-quarter earnings reviews and with a number of of the most recent indicators on the U.S. economic system and housing market on deck.
IBM
,
Morgan Stanley
,
and
Tesla
will report on Wednesday.
AT&T
,
Taiwan Semiconductor Manufacturing
,
and
Union Pacific
launch outcomes on Thursday, then
Procter & Gamble
,
and
Schlumberger
shut the week on Friday.
Financial-data highlights will embrace the Convention Board’s Main Financial Index for March on Thursday and each of S&P International’s Manufacturing and Providers Buying Managers’ Indexes for April on Friday.
There will even be a number of indicators of U.S. housing market exercise launched this week. These embrace the Nationwide Affiliation of Dwelling Builders’ Housing Market Index for April on Monday, the Census Bureau’s new residential development statistics for March on Tuesday, and the Nationwide Affiliation of Realtors’ existing-home gross sales for March on Thursday.
Monday 4/17
Charles Schwab, J.B. Hunt Transport Providers,
M&T Financial institution
,
and State Road launch earnings.
The Nationwide Affiliation of Dwelling Builders releases its Housing Market Index for April. Consensus estimate is for a 44 studying, matching the March information. Whereas residence builders nonetheless have a dour outlook for the housing market, there was a marked enchancment from late final 12 months. Thirty-year fixed-mortgage charges have declined by greater than eight-tenths of a proportion level from October’s two-decade excessive of seven.08%, per
Freddie Mac
information.
Tuesday 4/18
Financial institution of America,
Financial institution of New York Mellon
,
Goldman Sachs Group, Johnson & Johnson, Lockheed Martin, Netflix,
Prologis
,
and United Airways Holdings report quarterly outcomes.
The Census Bureau reviews new residential development statistics for March. Economists forecast a seasonally adjusted annual fee of 1.41 million privately owned housing begins, 40,000 fewer than in February.
Wednesday 4/19
Tesla reviews first-quarter earnings. Shares of the EV pioneer are up 50% this 12 months, the fifth-best performer within the
S&P 500.
However the inventory has been below stress since its March 1 investor day, when it did not announce a brand new decrease value mannequin.
Abbott Laboratories, ASML Holding,
Elevance Well being
,
IBM,
Lam Analysis
,
Las Vegas Sands, Morgan Stanley, Nasdaq, Vacationers, and
U.S. Bancorp
announce earnings.
Thursday 4/20
American Specific, AT&T,
CSX
,
Nucor
,
Philip Morris Worldwide
,
Taiwan Semiconductor Manufacturing,
Truist Monetary
,
and Union Pacific maintain convention calls to debate quarterly outcomes.
The Convention Board releases its Main Financial Index for March. The index is anticipated to lower 0.4% month over month, which might mark 12 consecutive month-to-month declines. The Convention Board at present forecasts that “rising rates of interest paired with declining client spending will probably push the U.S. economic system into recession within the close to time period.”
The Nationwide Affiliation of Realtors reviews existing-home gross sales for March. The consensus name is for a seasonally adjusted annual fee of 4.5 million houses bought, barely decrease than beforehand. In February, existing-home gross sales elevated 14.5% month over month, the biggest leap since July 2020, snapping a 12-month slide.
Friday 4/21
Freeport-McMoRan,
HCA Healthcare
,
Procter & Gamble, SAP, and Schlumberger launch earnings.
S&P International releases each its Manufacturing and Providers Buying Managers’ Indexes for April. The indexes are anticipated to indicate readings of 49.4 and 53.2, respectively. This compares with 49.2 and 52.6 in March.
Write to Nicholas Jasinski at nicholas.jasinski@barrons.com
