Wall Street will see two key economic reports next week on industrial production and retail sales, and second quarter results of several major companies such as streaming giant Netflix, Goldman Sachs, Bank of America, Abbott Laboratories, and Johnson & Johnson.
Last week, after Jerome Powell, the Federal Reserve Chairman’s testimony to the US Congress, investors will also keenly watch his speech on Monday.
Powell had told US lawmakers that he was not yet ready to declare inflation had been beaten.
“There is a path to getting back to full price stability while keeping the unemployment rate low,” Powell had said. “We’re on it. We’re very focused on staying on that path.”
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Economic events of Wall Street
Powell’s speech is scheduled for July 15 (Monday).
On July 16, separate data on US retail sales for June and business inventories for May will be released.
July 17 will see the release of separate data on industrial production for June and housing starts for June.
Earnings
The following companies are due to report second-quarter earnings in the week ahead — Goldman Sachs, BlackRock, UnitedHealth, Bank of America, Progressive, Morgan Stanley, PNC Financial, J.B. Hunt Transport, Johnson & Johnson, U.S. Bancorp, Kinder Morgan, United Airlines, Ally Financial, Netflix, Abbott Laboratories, Blackstone, Domino’s Pizza, Taiwan Semiconductor Manufacturing, American Express, Halliburton, and Travelers.
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