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The week ahead: 26/07/21

It’s a busy week for earnings dominated by tech giants Apple, Microsoft, Alphabet, Facebook and Amazon. Another highlight is the latest Fed decision on US interest rates due on Wednesday.

Monday 26 July

Look out for the German Ifo survey of business sentiment across Germany, followed later in the day by US new home sales. Among the earnings we’ve got quarterly figures for electric car pioneer Tesla (set to launch its controversial new Cybertruck later this year), fashion house Louis Vuitton and aerospace firm Lockheed Martin.

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Tuesday 27 July

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Alphabet chart: 23/07/21

It’s one of the biggest earnings days of the quarter as three tech leaders go head-to-head on Tuesday. Investors will closely scrutinise quarterly figures from Apple, Microsoft and Alphabet. The Google parent company has been investing heavily in its cloud business recently. A packed earnings schedule also includes Visa, UPS, Starbucks, Raytheon, 3M and General Electric. Notable macroeconomic data releases in the US include durable goods orders and consumer confidence.

Wednesday 28 July

Last time out the FOMC held the US federal funds target rate to 0.25%. Given that the rate hasn’t changed since March 2020, any deviation in monetary policy on Wednesday would be noteworthy. Early on Wednesday the latest Australian CPI is released, followed in Germany by the influential GfK consumer confidence survey. Facebook leads the charge of earnings releases, along with PayPal, Shopify, Pfizer, McDonald’s, Rio Tinto, Boeing and GlaxoSmithKline.

Thursday 29 July

The last of the Big Five, Amazon, issues its quarterly figures on Thursday. Other companies reporting include Mitsubishi, Panasonic, Mastercard, Nestle, Samsung, Comcast, L’Oreal, Merck, T-Mobile, AstraZeneca, Royal Dutch Shell and Volkswagen. We have some potentially market-moving indicators, with German unemployment and CPI in the morning, and the first estimate of US Q2 GDP at 13.30 BST. The final Q1 growth stood at 6.4% quarter-on-quarter. This time analysts expect a quarterly rise around 7.9%. At 15.00 BST keep an eye out for US pending home sales.

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Friday 30 July

The week draws to a close with Japanese unemployment, industrial production and retail sales data, followed later in the morning by the first estimates of French and German Q2 GDP, plus eurozone CPI and unemployment figures. We’ll see earnings from Warren Buffett’s Berkshire Hathaway, consumer goods firm Proctor & Gamble, and oil firms ExxonMobil and Chevron.

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Published: 26 July 2021

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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