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The week ahead: 25/07/22

It’s one of the biggest data weeks of the quarter, with earnings from Microsoft, Meta, Amazon, Apple, Shell, ExxonMobil, Chevron, Eni, Phillips 66, GlaxoSmithKline, Merck, AstraZeneca, AbbVie, Pfizer, Vodafone, T-Mobile, BT, Deutsche Bank, Lloyds, Barclays, NatWest, Visa, Mastercard, Coca-Cola, McDonald’s, 3M, Boeing, Intel, Honeywell and Caterpillar. We’ll also get inflation data for Australia, Tokyo, the eurozone and Germany, plus the Fed’s latest decision on US interest rates.

Monday 25 July

On Monday we’ll see the latest German Ifo business climate index, plus in the UK the CBI’s industrial trends orders report. Earnings are due from UK telecoms company Vodafone (amid speculation that it intends a merger with rival network Three), semiconductor maker NXP, software firm Cadence, home appliance maker Whirlpool, security tech firm F5, hospital company Universal Health Services and natural gas producer Range Resources.

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Tuesday 26 July

Microsoft chart: 22/07/22
   Microsoft chart: 22/07/22 (click to expand image)

Dow components Microsoft, Visa, Coca-Cola, McDonald’s and 3M all report to the market on Tuesday. Figures are also scheduled from shipping firm UPS, semiconductor maker Texas Instruments, aerospace and defence contractor Raytheon, food company Mondelez, US conglomerate GE, financial tech firm Fiserv, foodservice group Compass, US carmaker General Motors, water treatment firm Ecolab, insurance group Axis, DAX component Deutsche Boerse and budget airline easyJet. In the US keep an eye out for the Conference Board’s consumer confidence and the new home sales data for June.

Take your own view on UK, US and European equities.

Wednesday 27 July

Facebook owner Meta reports on Wednesday, along with aerospace manufacturer Boeing, DAX component Deutsche Bank, mobile network T-Mobile, telecoms equipment firm Qualcomm, Norwegian energy company Equinor, pharma firms GlaxoSmithKline and Bristol-Myers Squibb, mining group Rio Tinto, carmakers Mercedes-Benz and Ford, consumer goods group Reckitt Benckiser, US utility American Electric Power and banking groups Lloyds and Credit Suisse. A busy schedule also includes Australian CPI data, German GfK consumer climate, US durable goods orders and pending home sales, and the Fed’s decision on US interest rates at 7pm (UK time). Street consensus is a 75bps rise with FOMC member Loretta Mester recently indicating the same.

Thursday 28 July

Online retail giant Amazon catches the eye on Thursday’s earnings schedule, after last week announcing a deal to acquire healthcare company One Medical. Also look out for Dow components Apple, Merck, Intel, Honeywell and Caterpillar, payment processor Mastercard, telecoms and media group Comcast, pharma firms Pfizer and Sanofi, oil major Shell, drinks brand owners Diageo and AB InBev, German carmaker Volkswagen, chemical company Linde, lab tech firm Thermo Fisher Scientific, aerospace and defence contractors Northrop Grumman and BAE Systems, mining company Anglo American, UK bank Barclays, steel manufacturer ArcelorMittal, UK telecoms firm BT and media company ITV. Macroeconomic data includes Australian retail sales, German CPI (where last month we saw that inflation had weakened slightly to 7.6%) and the first estimate of US GDP for Q2.

Friday 29 July

We round off the week with Japanese industrial production, retail sales and Tokyo CPI, French and German GDP data and eurozone CPI. Updates are expected from oil firms ExxonMobil, Chevron, Eni and Phillips 66, consumer goods multinationals Procter & Gamble, Colgate-Palmolive and Church & Dwight, pharma firms AstraZeneca and AbbVie, high-street bank NatWest and financial services firm Standard Chartered. In the US we’ll also see June personal spending, the Chicago PMI and the University of Michigan consumer sentiment.

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Published: 25 July 2022

You should under no circumstances consider the information and comments provided as an offer or solicitation to invest. This is a macro summary of scheduled news announcements and is not investment advice, independent research or an investment recommendation. The information provided is believed to be accurate at the date the information is produced.

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