What to Expect in the Week Ahead (Tesla, Goldman Sachs, and Netflix Earnings; Retail Sales Data)

On Tuesday, the Census Bureau will report retail sales data for June. It is forecast to show a 0.5% monthly increase in consumer spending.

Also on Tuesday, the National Association of Home Builders will release its Housing Market Index for July. The Census Bureau reports June housing starts on Wednesday then the National Association of Realtors adds existing-home sales for June on Thursday.

Finally, the Conference Board will release its Leading Economic Index for June on Thursday, following 14-straight months of declines.

The Federal Reserve Bank of New York releases the Empire State Manufacturing Survey for July. Consensus estimate is for a negative 4.3 reading.

The Census Bureau reports retail sales data for June. Consumer spending is expected to grow 0.5% month over month, following a 0.3% increase in May. Excluding autos, spending is seen rising 0.3%, two-tenths of a percentage point more than previously. U.S. consumers have proved much more resilient than the majority of economists predicted at the start of the year.

The National Association of Home Builders releases its Housing Market Index for July. Economists forecast a 57 reading, two points higher than in June. The index has risen for six straight months and is at its highest level in nearly a year, despite 30-year mortgage rates close to a two-decade high. Solid demand and a lack of existing inventory have buoyed home builders'sentiment.

Tesla reports second-quarter results. Shares of the electric-vehicle pioneer are up 128% this year, making them the third best performer in the S&P 500 index. Tesla announced a record 466,140 deliveries for the second quarter in early July, up more than 80% from the prior year.

The Census Bureau reports new residential statistics for June. The consensus call is for a seasonally adjusted annual rate of 1.48 million privately owned housing starts, more than 9% less than in May.

The National Association of Realtors reports existing-home sales for June. Expectations are for a seasonally adjusted annual rate of 4.24 million homes sold.

The Conference Board releases its Leading Economic Index for June. The LEI has declined for 14 consecutive months, which points to weaker economic activity ahead, according to the Conference Board, which projects a recession in the next nine months.