US stocks are likely to open Monday on a mixed note as another batch of earnings from large companies is announced early in the week that hosts the Federal Reserve’s monetary policy meeting.
Crude oil futures (West Texas Intermediate, US standard) fell 0.5% to $76.67 a barrel. Brent crude, the international standard, fell 0.5% to $80.65 a barrel.
More than 150 S&P 500 companies are expected to report earnings this week, including Cleveland-Cliffs, Domino’s Pizza, Logitech International and NXP Semiconductors on Monday.
3M, Alaska Air, Alphabet, Dow, General Electric, General Motors, Microsoft, Spotify Technology, Snap, Texas Instruments, Verizon Communications, Visa, Waste Management and Xerox all announce earnings on Tuesday.
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AT&T, Boeing, Chipotle Mexican Grill, Coca-Cola, eBay and Meta Platforms report earnings on Wednesday.
American Tower, Boston Beer, Comcast, Ford Motor, Hertz Global, Intel, Live Nation Entertainment, Mastercard, McDonald’s, Shell, Southwest Airlines, T-Mobile US and Volkswagen report Thursday; and Chevron, Exxon Mobil and Procter & Gamble on Friday.
Notable economic events this week include: On Tuesday, S&P CoreLogic will release its Case-Shiller National Home Price Index for May and the Conference Board will release its Consumer Confidence Index for July.
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On Wednesday, the Federal Open Market Committee will announce its monetary policy decision with comments from Chairman Jerome Powell. Futures markets are pricing in an overwhelming probability of a 0.25 percentage point hike in interest rates to between 5.25% and 5.50%.
On Thursday, the Bureau of Economic Analysis will release its forecast for second-quarter gross domestic product growth. On Friday, the BEA will release June’s core consumer spending index, the Fed’s preferred measure of inflation.
Write to Janet H. Cho at [email protected]