The Week Ahead on Wall Street

The Week Ahead on Wall Street

Economic Data

Today the Chicago Federal Reserve will release June’s National Activity Index. In May the index declined month-over-month, with the reading suggesting economic activity shifted from a higher level to one that’s more average.

Tomorrow, May’s S&P CoreLogic Case-Shiller Home Price Index is due. April’s results showed home prices increased 20.4% on an annual basis. The index hasn’t declined since November 2021. June’s new home sales are also set for release, as well as July’s consumer confidence index.

Wednesday, the FOMC will announce its policy decision concerning rate hikes. The central bank is expected to enact an increase of at least 75 basis points in response to rampant inflation. Afterwards, Wall Street will be paying close attention to what Fed Chair Jerome Powell says at his press conference. Also, keep an eye out for June’s durable goods orders, core capital equipment orders, advance report on trade in goods, and pending home sales index.

Thursday, jobless claims will be published by the Department of Labor. Last week, over 250,000 Americans filed for unemployment benefits, the highest number of applicants in eight months. Existing claims also edged upward. Analysts say this shows the red-hot job market is beginning to cool.

Friday, June’s Personal Consumption Expenditures Index is due. This is the Fed’s preferred measure of inflation. May’s index showed prices rising 6.3% year-over-year, remaining unchanged from April. Also set for release is June’s real consumer spending, this month’s Chicago PMI, and the University of Michigan’s consumer sentiment survey.


Today, appliance manufacturer Whirlpool (WHR) is scheduled to report its second-quarter earnings. The results will include an estimated $300 million to $400 million loss the company is expected to face as a result of its decision to leave Russia and sell its business interests there.

Tomorrow, two giants of the tech sector will hand in their latest report cards. Microsoft (MSFT) and Google parent Alphabet (GOOGL) will post earnings. This follows the tech sector’s recent rally that’s taken root during this earnings season. Investors will also be watching the food industry as Coca-Cola (KO), McDonald’s (MCD), and Chipotle (CMG) are all on the earnings calendar as well.

Wednesday, the market will gain more insight into the tech industry and social media as Facebook parent Meta Platforms (META) shares its most recent results. Facebook’s app was tweaked last week with multiple reports saying the new layout was designed to be more similar to TikTok. Aerospace company Boeing (BA) will also report earnings.

Thursday, Amazon (AMZN) and Apple (AAPL) post results to continue the busy week for tech earnings. Pharmaceutical giant Pfizer (PFE) will report earnings as well. Its Paxlovid COVID-19 pill was in the headlines recently, as President Joe Biden took it after testing positive last week.

Friday, consumer products giant Procter & Gamble (PG) rounds out the week of earnings releases. It recently announced it will test its Tide products in outer space through a partnership with SpaceX. Oil giants Chevron (CVX) and ExxonMobil (XOM) will also report results.

The Week Ahead at SoFi

The Fed meeting and second quarter GDP numbers are sure to dominate financial headlines this week. Tune in to hear about what it might mean for your bottom line. Save your seat in the SoFi app!


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James Flippin ABOUT James Flippin James Flippin is the son of a financial advisor who grew up hearing and learning about bond yields, interest rates, the stock market, and the ins and outs of Wall Street. After stints as a licensing and business broker for Marcus and Millichap in New York City, James moved into broadcasting and became a reporter and anchor. He covered crime, politics, finance, and tech at NBC News Radio while working part-time as a producer for SiriusXM. James graduated from the University of Delaware with a bachelor’s degree in political science and economics. He's also an accomplished podcaster with over 10-years of experience.

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