Week Ahead on Wall Street

By: James Flippin · April 14, 2023 · Reading Time: 3 minutes

Economic Data

Today, the NAHB housing market index for April will be released. In March, this gauge of housing sales conditions rose for the third straight month.

Tomorrow, investors will get an updated report on building permits and housing starts. In February, building permits hit 1.55 million, the highest reading in 5 months. Housing starts also surged in February and hit 1.45 million, a 9.8% increase from January.

On Wednesday, even more housing data will be published, with a report on mortgage applications set to be released, as well as an update to the 30-year fixed-rate mortgage. For the week ended April 7th, mortgage applications rose 5.3%. Meanwhile, the average 30-year fixed-mortgage rate sits at 6.3%.

On Thursday, investors will learn how many existing homes are selling in the US. In February, the number of homes sold jumped 14.5%. This snapped a 12-month decrease and was the largest monthly jump since July 2020. Additionally, the number of people claiming unemployment, which was 239,000 for the week ended April 8th, will get a fresh update.

Friday will close out the week with the release of the US manufacturing PMI, which will offer insight into the state of the manufacturing sector.


Today, Charles Schwab (SCHW) will continue the streak of financial earnings reports that started last Friday, when JPMorgan Chase (JPM), Citigroup (C), and Wells Fargo (WFC) all announced earnings.

Tomorrow, financial reports will continue to roll in, with Bank of America (BAC), BNY Mellon (BK), and Goldman Sachs (GS) reporting. Lockheed Martin (LMT) and Netflix (NFLX) will also report. This will be Netflix’s first quarter without CEO Reed Hastings at the helm. Instead, co-CEOs Greg Peters and Ted Sarandos will speak on a number of ongoing changes at the streaming pioneer: the performance of its new ad-supported subscription, its ongoing password-sharing crackdown, and the fact that it has fallen behind Amazon Prime (AMZN) in terms of number of US users.

Wednesday will be another busy day as IBM (IBM), Morgan Stanley (MS), and United Airlines (UAL) all offer insight on their first quarter. EV leader Tesla (TSLA) will also expand on the fact that it produced over 440,000 vehicles and delivered almost as many in the first quarter.

On Thursday, investors can expect updates from both American Express (AXP) and AT&T (T). Amex may expand on its recently announced sustainability initiatives.

On Friday, Procter & Gamble (PG) will give an update on its business. As the owner of dozens of household brands, P&G’s report can give insight into consumer spending habits and further signs of inflation’s abatement.

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