Apple, GE, Qualcomm and More Stocks for Investors to Watch This Week – Barron’s

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Apple, GE, Qualcomm and More Stocks for Investors to Watch This Week – Barron’s


Illustration by Robert A. Di Ieso Jr.

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It’s the busiest week of earnings season, with 156
S&P 500
components reporting their second-quarter results.
Apple
,
Mastercard
,
and a number of drugmakers—including
Pfizer
,
Merck
,
and
Eli Lilly

—report on Tuesday.
General Electric
,
Qualcomm
,
and
Kraft Heinz

are Wednesday’s highlights, followed by
Verizon Communications

and
General Motors

on Thursday. Oil majors
Exxon Mobil

and
Chevron

close out the week on Friday.

The week’s main event will be the Federal Open Market Committee’s July meeting, at which the market fully expects policymakers to lower interest rates. The committee’s statement will be released at 2 p.m. on Wednesday, followed by a press conference with Federal Reserve Chairman Jerome Powell at 2:30 p.m. Other releases include the Conference Board’s July consumer confidence index on Tuesday, the Institute for Supply Management’s manufacturing index for July on Thursday, and July jobs and hourly earnings figures from the Bureau of Labor Statistics on Friday.

Monday 29

Affiliated Managers Group, Illumina,
Sanofi

,
SBA Communications

, and
Vornado Realty Trust

report quarterly results.

Tuesday 30

Advanced Micro Devices
,
Altria Group

,
Amgen

, Apple,
Conoco

Phillips,
Electronic Arts

, Eli Lilly,
Grubhub

, Mastercard,
Pfizer

,
Procter & Gamble

, and Under Armour release earnings.

A U.S. delegation led by Treasury Secretary Steven Mnuchin heads to Shanghai to meet with their Chinese counterparts to discuss the ongoing trade war between the world’s two largest economies.

The Bank of Japan announces its monetary-policy decision. The central bank is widely expected to keep its key interest rate at negative 0.1%.

SunTrust Banks

and
BB&T

will hold special shareholder meetings in Atlanta and Greensboro, N.C., respectively. Stockholders will be asked to approve the proposed merger of the two regional banks. The combined company would be the sixth-largest bank in the U.S. and called Truist Financial.

The Conference Board reports its Consumer Confidence Index for July. Economists forecast a 125.4 reading, up from June’s 121.5.

The National Association of Realtors releases its Pending Home Sales Index for June. Consensus estimates are for a 0.5% gain in pending sales, down from May’s 1.1% rise.

Wednesday 31

Automatic Data Processing
,
CME Group

,
Dominion Energy

, Equinix, General Electric, Humana,
Occidental Petroleum

, and Qualcomm report quarterly results.

ADP releases its National Employment Report for July. Expectations are for a 155,000 rise in private sector jobs after a 102,000 gain in June.

ISM-Chicago reports its Chicago Purchasing Managers Index for July. Economists forecast a rebound to 51.7 from June’s 49.7, which was the first sub-50 reading since January 2017.

Thursday 1

Aphria, Corteva,
DuPont

, General Motors, Intercontinental Exchange,
Marathon Petroleum

, MSCI,
Royal Dutch Shell

,
Verizon Communications

, and Yum! Brands hold conference calls to discuss quarterly results.

The Institute for Supply Management releases its Manufacturing Index for July. Consensus estimates are for a 52 reading, up from June’s 51.7.

The Census Bureau reports construction spending data for June. Expectations are for a 0.5% rise after a 0.8% decline in May.

Friday 2

Cboe Global Markets
,
Chevron, Enbridge,
Exxon Mobil

, LyondellBasell Industries, and
Sempra

Energy release earnings.

The Bureau of Labor Statistics releases the jobs reports for July. Economists forecast a 160,000 gain in nonfarm payroll employment after a 224,400 jump in June. The headline unemployment rate is seen unchanged at 3.7%.

Week’s Highlight

Wednesday 31 The FOMC announces its monetary-policy decision. Wall Street has already priced in a 25-basis-point cut to the federal-funds rate, to 2% to 2.25%.

–Robert Teitelman and Dan Lam

Email: [email protected]

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