All eyes next week will be on the latest U.S. personal income and outlays report, due Friday. The data will also contain readings on the Federal Reserve’s preferred inflation gauge – the personal consumption expenditures price index. Also, Thursday will see the publication of the first estimate of U.S. GDP growth in Q1.
Following this week’s developments between Israel and Iran, market participants will likely continue to be on edge as they keep an eye on the situation in the Middle East. Treasury yields and oil will be on watch.
Finally, the chunk of next week’s spotlight will be dominated by the first quarter earnings season, which will heat up and see hundreds of companies announcing their numbers. The biggest names set to report include “Magnificent 7” club members Microsoft (MSFT), Alphabet (GOOG) (GOOGL), Meta Platforms (META) and Tesla (TSLA).
Earnings spotlight: Monday, April 22 – Verizon (VZ), Truist (TFC), and Albertsons Companies (ACI). See the full earnings calendar.
Earnings spotlight: Tuesday, April 23 – Visa (V), Tesla (TSLA), PepsiCo (PEP), Texas Instruments (TXN), Philip Morris International (PM), UPS (UPS), Lockheed Martin (LMT), Mattel (MAT), and General Motors (GM). See the full earnings calendar.
Earnings spotlight: Wednesday, April 24 – Meta Platforms (META), IBM (IBM), AT&T (T), Boeing (BA), Chipotle (CMG), General Dynamics (GD), Hilton Worldwide (HLT), and Ford Motor (F). See the full earnings calendar.
Earnings spotlight: Thursday, April 25 – Microsoft (MSFT), Alphabet (GOOG), Merck (MRK), Caterpillar (CAT), Comcast (CMCSA), Intel (INTC), and Altria Group (MO). See the full earnings calendar.
Earnings spotlight: Friday, April 26 – TotalEnergies (TTE), Exxon Mobil (XOM), AbbVie (ABBV), Chevron (CVX), and Colgate-Palmolive (CL). See the full earnings calendar.
Volatility watch: Options trading volume is elevated on Snap (NYSE:SNAP) and Summit Therapeutics (SMMT). Short interest moved even higher over the last week on B. Riley Financial (RILY) and Beyond Meat (BYND). The most overbought stocks per their 14-day Relative Strength Index include Macatawa Bank (MCBC), Coupang (CPNG), and Alpine Immune (ALPN). The most oversold stocks per their 14-day Relative Strength Index include Sunoco (SUN), Capri Holdings (NYSE:CPRI), and Perion (PERI). Traders will also be on high alert when the FTC holds a closed-door meeting on April 22. The Tapestry (NYSE:TPR)-Capri Holdings (CPRI) deal is at risk of being blocked.
IPO watch: Companies expected to launch their IPOs in the week ahead include mF International (MFI), YY Group Holding (YYGH), Rubrik (RBRK), Marex Group (MRX), and Loar Holdings (LOAR). The IPO quiet periods end on Boundless Bio (BOLD), U-BX Technology (UBXG), and Alta Global Group (MMA) to free up analysts to post ratings.
Investor events: The TotalEnergies (TTE) board is expected to decide if a resolution to split the roles of CEO and chairman will be included at the annual general meeting in May. A group of investors has said the move could accelerate the company’s shift away from fossil fuels. The crypto world will have its eyes on the two-day World Blockchain Summit in Dubai. The Stripe Sessions Conference will include talks by Stripe (STRIP) CEO Patrick Collison, Nvidia (NVDA) CEO Jensen Huang, Instacart (CART) CEO Fidji Simo, and Urban Outfitters (URBN) CTO David Hayne. Volkswagen (OTCPK:VLKAF) will hold its China Capital Markets Day in Beijing. Management from the regional brands will showcase their respective product strategies for China, followed by deep dives highlighting technologies and partnerships. The World Energy Congress in Rotterdam during the week will include talks by Saudi Aramco (ARMCO) CEO Amin Nasser and TotalEnergies (TTE) CEO Patrick Pouyanne.