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Earnings season and the US GDP data will dictate markets’ sentiment this week

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Wall Street ended last week trading slightly into the green with Dow and Nasdaq rising by 0.6% and 0.2%, respectively, while the S&P 500 declined to a minimum of 0.1%.

The reporting season started surprisingly good, with 78% of the S&P 500 companies that have announced their results so far have exceeded analysts’ expectations, which gave wings to the Wall Street indexes amid the concerns about the global economic growth.

The focus of the markets this week is the Ifo Institute for Business Climate in Germany, the US GDP and the Economic Bulletin of the European Central Bank.

Moreover, the earnings season continue with full speed, which will be on tracked by the investors.

Upcoming economics data

On Monday, April 22, will be published the US PMI data in the industry sector for March and sales of existing homes. Most of the markets in Europe will be closed due to the celebration of the Catholic Easter.

On Tuesday, April 23, Canada will announce the wholesale sales for February with the consensus estimate of analysts for a growth of 0.4% against 0.6% a month earlier. In the US, will be posted the Purchasing Managers’ Index (PMI) data for the March and the sales of new homes. For the Eurozone, they will release preliminary consumer confidence data for April.

On Wednesday, April 24, in Australia will be released the data on inflation in the first quarter with expectations for a slowdown to 0.2%. The focus of the markets will be turned to the Ifo Institute’s Business Climate Index in Germany. The European Central Bank will publish its latest economic newsletter. The Canadian Central Bank will hold a meeting, with expectations to keep the interest rates at 1.75%. In the United States, current data on crude oil stocks in the country will be released.

On Thursday, April 25, the Central Bank of Japan will have a meeting on monetary policy with expectations to keep the interest rates unchanged, but the report on prospects for the economy will be closely followed. In the United States, the latest data on the number of applications for unemployment claims will be published.

On Friday, April 26, the investors will focus on New Zealand’s trade balance data in March. A series of important macro data will be released in Japan, including the labor market, industrial output and retail sales in March. In Australia, the producer price index will be posted. Russian Central Bankers will hold a meeting at the end of the week, which will likely keep the interest rates unchanged at 7.75%. In the United States, will be published the preliminary GDP data for the first quarter with analysts’ consensus forecasts for slow down to 1.8% compared to 2.2% in the previous quarter.

Upcoming earnings reports

On Monday, April 22, will be published the financial statements of several smaller banks in the US, just like Independent Bank Group Inc, Bank of Marin Bancorp, Bank of Hawaii Corporation, Washington Trust Bancorp, and the Community Bank System Inc. Also during the day will be published the reports of restaurant chain Luby’s, air conditioning manufacturer Lennox International, chemicals company Celanese Corporation, as well as home appliance company Whirlpool Corporation.

On Tuesday, April 23, the markets will focus on earnings statements of Coca-Cola, consumer goods company Procter & Gamble, telecommunications company Verizon Communications, as well as social network giants Twitter Inc and Snap Inc. During the day will be released the financial reports of the toy manufacturer Hasbro, airline JetBlue, Canadian Pacific Railway, e-commerce company eBay Inc and aircraft manufacturer United Technologies Corporation. Another important event will be the report of aerospace and defense company Lockheed Martin.

On Wednesday, April 24, will be published the financial statements of technology giant Microsoft Corp, carmaker Tesla Inc, aircraft manufacturer Boeing Co, social network Facebook Inc, telecommunications company AT&T Inc, construction machinery and equipment producer Caterpillar Inc, and the restaurant chain Domino’s Pizza. The markets will also focus on the quarterly earnings of Visa Inc and PayPal Holdings, as well as financial services companies Moody’s and Nasdaq Inc. In Europe, the markets will monitor the finance reports of the Swiss multinational investment bank Credit Suisse, the Swedish manufacturer of outdoor power products Husqvarna Group, and the German multinational software corporation SAP.

On Thursday, April 25, will be published the reports of e-commerce giant Amazon.com, industry equipment manufacturer 3M Co, coffee chain Starbucks Corp, chipmaker Intel Corp, car manufacturer Ford Motor and the Chinese internet company Baidu Inc. During the day the investors will watch the earnings statements of telecommunications conglomerate Comcast, petroleum refineries company Hess Corporation, as well as Xerox Corporation and Yahoo Japan Corporation. Alaska Air Group and Southwest Airlines will also post their financial reports. In Europe, the investors will focus on statements of the British multinational investment bank Barclays, Swiss bank UBS, and Finnish consumer electronics company Nokia.

On Friday, April 26, will be published the earnings reports of the oil and gas corporations Exxon Mobil and Chevron.