June 21, 2024

Wall Street week ahead: Investors eye economic growth indicators, key earnings

On Wall Street in the week ahead, stock market investors’ major focus will be on the economic growth indicators such as pace of inflation, manufacturing PMI and the economy.

In addition, investors will also be watching key earnings that include Tesla, Netflix, American Airlines, Abbott Laboratories, and IBM.

On January 24, data for January on the S&P flash US services PMI and the S&P flash US manufacturing PMI will be released.

January 25 will see the release of fourth quarter (Q4) gross domestic product (GDP)- preliminary data. New home sales data for December will also be released on the same day.

On January 26, data on PCE (personal consumption expenditures) index for December will be released.


Following companies are due to declare their quarter results in the week ahead — Brown & Brown, United Airlines Holdings, Zions Bancorporation, Johnson & Johnson, Procter & Gamble, Netflix, Verizon Communications, Texas Instruments, General Electric, Lockheed Martin, Tesla, Abbott Laboratories, IBM, AT&T, General Dynamics, Las Vegas Sands, CSX, Visa, Intel, Comcast, Union Pacific, American Airlines Group, Southwest Airlines, Levi Strauss, Alaska Air Group, American Express, Colgate-Palmolive, Norfolk Southern, and Autoliv.

US Stocks

On Friday, the S&P 500 jumped 1.23 per cent to end the session at 4,839.81 points. The Nasdaq jumped 1.70 per cent to 15,310.97 points, while Dow Jones Industrial Average rose 1.05 per cent to 37,863.80 points.

The US dollar fell to 148.19 yen from 148.24 Japanese yen. The euro rose to $1.0893 from $1.0861.

The yield on the 10-year Treasury edged down on Friday to 4.13 per cent.

The US crude oil benchmark for February delivery fell 67 cents to $73.41 per barrel Friday. Brent crude for March delivery fell 54 cents to $78.56 per barrel.

Gold for February delivery rose $7.70 to $2,029.30 per ounce. Silver for March delivery fell 10 cents to $22.71 per ounce.

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