This week will be packed with significant events in the financial world, with key highlights to look out for.
The Federal Reserve is set to announce its latest decision on interest rates on Wednesday, with Chair Jerome Powell expected to address the media afterward. Most investors anticipate that interest rates will remain steady at the current level of 5.25% to 5.5%, with any potential changes likely to be discussed at the September meeting. The decision on rates this week will be closely monitored in light of the recent rise in unemployment, with the upcoming job report on Friday providing further insights into the state of the labor market.
Earnings reports from major companies will also be in focus, with Big Tech firms such as Microsoft, Apple, Amazon, and Meta Platforms scheduled to report this week. Microsoft’s earnings on Tuesday will shed light on its cloud business revenue growth, while Meta Platforms’ report on Wednesday will be closely watched following weaker guidance. Apple’s earnings on Thursday and Amazon’s on Friday will provide further indications of the tech sector’s performance.
In addition to tech companies, energy firms like ExxonMobil and Chevron will also be reporting their quarterly results. ExxonMobil, which missed profit expectations in the previous quarter, and Chevron, which reported lower revenue and net income, will be releasing their financial updates. Other energy companies like BP, Shell, and ConocoPhillips will report earlier in the week.
The consumer sector will also be in focus, with earnings reports from McDonald’s on Monday and Starbucks on Tuesday. McDonald’s decision to continue its $5 value meal promotion in August amidst consumer pushback against high prices will be a key indicator of consumer sentiment.
Furthermore, Boeing’s earnings report on Friday will be closely watched, especially after the company pleaded guilty to charges related to the 737 Max plane crashes. Pharmaceutical giants Merck and Pfizer will also be issuing their quarterly financial updates on Tuesday.
Overall, this week promises to be eventful for investors, with a mix of monetary policy decisions, earnings reports, and economic indicators shaping the market outlook. Stay tuned for updates on these key highlights throughout the week.
