What to Expect in the Week Ahead (Powell Speaks; DIS, PYPL and UBER Earnings)

Moomoo Breakfast US wrote a column · Feb 6, 2023 09:53

What to Expect in the Week Ahead (Powell Speaks; DIS, PYPL and UBER Earnings)

Fourth-quarter earnings season continues this week, with close to 90 $S&P 500 Index (.SPX.US)$ companies scheduled to report. So far, earnings are down about 3% from the same period a year ago, per Refinitiv.

$Simon Property (SPG.US)$, $Take-Two Interactive Software (TTWO.US)$, and $Tyson Foods (TSN.US)$ report on Monday, followed by $BP PLC (BP.US)$, $DuPont (DD.US)$, and $Royal Caribbean (RCL.US)$.

$Disney (DIS.US)$, $CVS Health (CVS.US)$, and $Uber Technologies (UBER.US)$ will publish results on Wednesday, then $AbbVie (ABBV.US)$, $Expedia (EXPE.US)$, $Hilton Worldwide (HLT.US)$, $PayPal (PYPL.US)$, and $Philip Morris International (PM.US)$ go on Thursday. $Honda Motor (HMC.US)$ and $Newell Brands (NWL.US)$ will close the week on Friday.

It will be a relatively quiet week on the economic-data calendar: The University of Michigan's Consumer Sentiment Index for February, out on Friday morning, will be the highlight.

Economists and Federal Reserve watchers will be tuning into a speech from Chairman Jerome Powell at the Economic Club of Washington D.C. on Tuesday. And Tuesday night, President Joe Biden will give the State of the Union address.

Monday 2/6

$Activision Blizzard (ATVI.US)$, $Cummins (CMI.US)$, $ON Semiconductor (ON.US)$, $Simon Property (SPG.US)$, $Take-Two Interactive Software (TTWO.US)$, and $Tyson Foods (TSN.US)$ report quarterly results.

Tuesday 2/7

$BP PLC (BP.US)$, $Carrier Global (CARR.US)$, $Centene (CNC.US)$, $DuPont (DD.US)$, $Enphase Energy (ENPH.US)$, $Illumina (ILMN.US)$, and $Royal Caribbean (RCL.US)$ announce earnings.

Wednesday 2/8

$Disney (DIS.US)$ reports first-quarter fiscal-2023 results. Shares plunged 43.9% last year, the company's worst showing since 1974, as investors valued profitability over growth in Disney's streaming division.

$CME Group (CME.US)$, $CVS Health (CVS.US)$, $Emerson Electric (EMR.US)$, $Equifax (EFX.US)$, $Equinor (EQNR.US)$, $MGM Resorts International (MGM.US)$, $O'Reilly Automotive (ORLY.US)$, $Uber Technologies (UBER.US)$, and $Yum! Brands (YUM.US)$ release quarterly results.

Thursday 2/9

$AbbVie (ABBV.US)$, $AstraZeneca (AZN.US)$, $Duke Energy (DUK.US)$, $Expedia (EXPE.US)$, $Hilton Worldwide (HLT.US)$, $Kellanova (K.US)$, $PayPal (PYPL.US)$, and $Philip Morris International (PM.US)$ hold conference calls to discuss earnings.

The Department of Labor reports initial jobless claims for the week ending on Feb. 4. Claims averaged 192,000 in January. Federal Reserve Chairman Jerome Powell, at the FOMC news conference this past week, cited 1.9 job openings for every unemployed person as something that needs to come into better balance. The reported unemployment rate hit a half-century low of 3.4% in January.

Friday 2/10

$Global Payments (GPN.US)$, $Honda Motor (HMC.US)$, $IQVIA Holdings (IQV.US)$, and $Newell Brands (NWL.US)$ report quarterly results.

The University of Michigan releases its Consumer Sentiment Index for February. The consensus estimate is for a bearish 65.1 reading, roughly even with the January figure. Consumers' expectations for year-ahead inflation was 3.9% in January, the lowest level since April of 2021. The Fed has stated that expectations for inflation play an important role in determining actual inflation. Powell recently said that inflation expectations were "well anchored," meaning that consumers' expectations for future inflation aren't sensitive to current inflation.

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