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Wall Street looks to major earnings, Treasury sales and Fed timing
The week includes $13 billion of 20-year bond sales and $21 billion of 10-year TIPS, while money markets are not fully pricing another 25 basis point Fed hike until December, according to LSEG data.
U.S. stocks head into a lighter economic calendar, but market focus shifts toward a dense slate of corporate earnings that could set the next direction after a recent sell-off in semiconductor shares, LiveMint Markets said. The S&P 500 fell 76.1 points, or 1.0%, to 7,475.69 on Friday.
Alphabet and Intel results are expected to be closely watched for signals on the outlook for artificial intelligence spending after the semiconductor drop, LiveMint Markets reported. Other earnings set for the week include Tesla, American Express, Philip Morris, RTX, and IBM, with investors looking for updates on consumer demand and broader corporate conditions.
On the data side, the week features preliminary Purchasing Managers Index readings for manufacturing and services, June leading economic indicators, and new home sales for June, which are expected to inform expectations for the U.S. economy ahead of the Federal Reserve’s next meeting on July 29, the outlet added.
LiveMint Markets also flagged Fed rate expectations and market-moving events beyond earnings, including LSEG data showing money markets are not fully pricing another 25 basis point Fed rate hike until December. Geopolitical developments in the Middle East and U.S. Treasury debt auctions also remain in focus, with the Treasury scheduled to sell $13 billion of 20-year bonds on Wednesday and $21 billion of 10-year TIPS on Thursday.
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