What will happen during week 29, 2019? Here is something traders will focus on before the Bell rings
In the coming week, corporate earnings from global companies will continue. Investors will also receive key economic data from major countries like the US and China. Here are some of the biggest stories to expect in the coming week.
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The unofficial earnings season started this week and has so far seen more than 9% of all companies in the S&P 500 index release their earnings. On average, 85% of all companies that have released their earnings have beaten the consensus estimates.
In the coming week, there will be a galore of releases, with more than 60% of all companies in the S&P 500 index expected to release.
Some of the companies that will report are Arrow Financial, City Holding, Moelis & Co, Overstock, Woodward, and Zions Bank among others.
Some of the companies that will release their earnings are 3M, Ameriprise Financial, Avangrid, Centene, Corning, Fifth Third Bancorp, Franklin Financial Services, Harley-Davidson, Illumina, Lockheed Martin, McDonalds, Navient, Paccar, Prologis, Pultegroup, Robert Half, Snap, Texas Instruments, and Xerox among others..
Companies that will release their earnings are AMD, Anthem, AT&T, Boeing, Caterpillar, Citrix, Equifax, Freeport-McMoran, Illinois Tool Works, Hilton, Morningstar, Northrop Grumman, Raymond James, Sirius XM, Tesla, UPS, and Visa among others.
Some of the top companies that will report are Alphabet, Amazon, Air Products & Chemicals, American Airlines, Carters, Chipotle, Franklin Resources, Google, Hershey, LogMeIn, Starbucks and S&P Global among others.
Companies like Allergan, Barnes Group, Colgate Palmolive, Moody’s, and Twitter will report.
Turkish Central Bank Interest Rates Decision
On Thursday, the Turkish central bank will deliver its interest rates decision. Investors expect the central bank to lower interest rates from the current 24% to 22%. This will be the first time the central bank will be lowering rates after President Erdogan fired the previous central bank governor.
It will also be the first rate cut after the country started receiving the S-400 missiles from Russia. In response, the US has threatened to impose sanctions on the country, which is a fellow NATO member.
European Central Bank
On Thursday, the ECB is expected to announce its interest rates decision. The bank is expected to leave interest rates decision unchanged. Investors will be focusing on the statement about the future of interest rates hikes.
In the previous meeting, the bank committed itself to supporting the economy. The officials said that they expect to raise interest rates in the first quarter of 2020.
On Friday, the US will release the GDP numbers for the second quarter. Investors expect that the economy expanded by 1.9% in the quarter. In the first quarter, the economy expanded by 3.1%.
Such a drop in the US economic growth will be a blow to Donald Trump who has been touting about the strength of the economy in his presidency. This will be the lowest economic growth rate since 2017 before the US passed the tax cuts bill.
The GDP price index is expected to increase to 1.3% from the previous 0.6%.
Russia Interest Rates Decision
On Friday, the Russian central bank will release the interest rates decision. The bank is expected to leave interest rates unchanged at the current 7.50%. This is after the bank lowered rates in the June meeting by 25 basis points.
In recent years, the Russian economy has weakened mostly because of the US sanctions that have been in place after the country annexed Crimea.