{"id":293314,"date":"2020-07-13T02:05:34","date_gmt":"2020-07-12T16:05:34","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/articles\/week-ahead-earnings-season\/"},"modified":"2021-02-19T12:13:41","modified_gmt":"2021-02-19T01:13:41","slug":"week-ahead-earnings-season","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/weekly-summaries\/week-ahead-earnings-season\/","title":{"rendered":"Week Ahead: Earnings Season"},"content":{"rendered":"

By Deepta Bolaky<\/strong>
\n\u00a0@DeeptaGOMarkets<\/a><\/p>\n

Earnings Season<\/h4>\n

It will be a busy week with investors gearing up for a new earnings season while still keeping track of the rising number of virus cases and the dominant geopolitical risks. On the economic front, attention will be on central bank meetings, leading economic indicators and the EU summit. <\/span><\/p>\n

United States<\/b><\/h5>\n

In the US, immediate attention will be on the earnings season. On the economic front, Retail Sales, <\/span>Jobless Claims, and Philadelphia Fed Manufacturing Survey will be among the major events for the week. Recently, economic data has shown that the US economy is on the rebound. In June, the US recorded an increase of 17.7% in retail and food services for May 2020 from the previous month. We expect Retail Sales to remain solid. Similarly, we expect NY and Philadelphia surveys to continue to show improvement in the manufacturing sector.<\/span><\/p>\n

However, given the record daily virus cases in the US outbreak, more lockdown or various forms of social distancing measures might be back on the horizon which would tame the recovery process. <\/span><\/p>\n

Eurozone\u00a0<\/b><\/h5>\n

The two main events for the Eurozone will be the ECB rate meeting and EU leaders Special Summit on Thursday and Friday respectively. At the last meeting, the ECB increased its pandemic emergency purchase program. We, therefore, do not expect much surprises in Thursday\u2019s meeting – President Christine Lagarde will probably maintain the same status quo. The summit will probably gather more attention and be the market-mover event for the shared currency. The solidarity of the EU members will be tested this week on the overall size of the EU\u2019s Covid-19 response. The extent of compromises or another delay in reaching an agreement could negatively impact the Euro. <\/span><\/p>\n

UK<\/b><\/h5>\n

Besides Brexit-related headlines, notable events for the Kingdom will be GDP figures and employment data. Chancellor Rishi Sunak\u2019s recovery plan and some Brexit optimism helped the British Pound to rally to the upside.<\/span><\/p>\n

Australia & China<\/h5>\n

While Aussie employment data will be released later this week, China\u2019s slew of leading economic indicators will more likely be the key events for the Aussie dollar:<\/span><\/p>\n

Tuesday: Exports, Imports, and Trade Balance\u00a0<\/span><\/p>\n

Thursday: Gross Domestic Product, NBS Press Conference, Industrial Production and Retail Sales (China)<\/span><\/p>\n

Equity Markets<\/b><\/h4>\n

Global stocks swung between gains and losses last week as doubts of economic recovery resurfaced following the rising number of coronavirus cases. The stock market ended the week on a cautiously optimistic tone. Aside from the spike in the number of infections, the attention will be concentrated on the US earnings season.\u00a0<\/span><\/p>\n

The earnings season will kickstart with big banks like JP Morgan Chase, Citigroup, Wells Fargo, Goldman Sachs, Bank of America, Morgan Stanley, and tech stock like Netflix.<\/span><\/p>\n

Monday<\/strong><\/p>\n\n\n\n\n
Companies<\/strong><\/td>\nReporting Time<\/strong><\/td>\nTeleconference\/Webcast Time<\/strong><\/td>\n<\/tr>\n
PepsiCo (PEP)<\/strong><\/td>\nBefore Bell<\/strong> at approximately 6:00 a.m. (ET)<\/td>\n\u00a0At 6:30 a.m. (ET), pre-recorded management discussion and transcript of prepared remarks will be released.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Tuesday<\/strong><\/p>\n\n\n\n\n\n\n
Companies<\/strong><\/td>\nReporting Time<\/strong><\/td>\nTeleconference\/Webcast Time<\/strong><\/td>\n<\/tr>\n
JPMorgan Chase & Co (JPM)<\/strong><\/td>\nBefore Bell<\/strong> at approximately 7:00 a.m. (ET)<\/td>\nAt 8:30 a.m. (ET), results will be reviewed via an investor conference call.<\/td>\n<\/tr>\n
Citigroup Inc (C)<\/strong><\/td>\nBefore Bell<\/strong> at approximately 8:00 a.m. (ET)<\/td>\nAt 10:00 a.m. (ET) results will be reviewed by a live audio webcast and teleconference.<\/td>\n<\/tr>\n
Wells Fargo & Co (WFC)<\/strong>\u00a0<\/strong><\/td>\nBefore Bell<\/strong> at approximately 8:00 a.m. (ET)<\/td>\nAt 11:00 a.m. (ET), the Company will host a live conference call.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/strong>Wednesday<\/strong><\/p>\n\n\n\n\n
Companies<\/strong><\/td>\nReporting Time<\/strong><\/td>\nTeleconference\/Webcast Time<\/strong><\/td>\n<\/tr>\n
Goldman Sachs Group Inc (GS)<\/strong><\/td>\nBefore Bell<\/strong> at approximately 7:30 a.m. (ET)<\/td>\nAt 9.30 a.m. (ET) the Company will host a conference call.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/strong>Thursday<\/strong><\/p>\n\n\n\n\n\n\n\n
Companies<\/strong><\/td>\nReporting Time<\/strong><\/td>\nTeleconference\/Webcast Time<\/strong><\/td>\n<\/tr>\n
Bank of America Corp (BAC)<\/strong><\/td>\nBefore Bell<\/strong> at approximately 6:45 a.m. (ET)<\/td>\nAt 8.30 a.m. (ET), an investor presentation will follow.<\/td>\n<\/tr>\n
Johnson & Johnson (JNJ)<\/strong><\/td>\nBefore Bell <\/strong>at approximately 6:45 a.m. (ET)<\/td>\nAt 8.00 a.m. (ET), results will be reviewed via a conference call.<\/td>\n<\/tr>\n
Morgan Stanley (MS)<\/strong><\/td>\nBefore Bell <\/strong>at approximately 7:15 a.m. (ET)<\/td>\nAt 8.00 a.m. (ET), results will be reviewed via a conference call.<\/td>\n<\/tr>\n
Netflix Inc (NFLX)<\/strong><\/td>\nAfter Market Close<\/strong> at approximately 1:00 p.m. (PT)<\/td>\nAt 3.00 p.m. (PT), a video interview will be made available.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Friday<\/strong><\/p>\n\n\n\n\n
Companies<\/strong><\/td>\nReporting Time<\/strong><\/td>\nTeleconference\/Webcast Time<\/strong><\/td>\n<\/tr>\n
Snap Inc A (SNAP)<\/strong><\/td>\nAfter Market Close<\/strong> at approximately 2:00 p.m. (PT)<\/td>\nAt 2.00 p.m. (PT), results will be reviewed via a conference call.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Commodities<\/b><\/h4>\n
Oil<\/h5>\n

Crude oil prices struggled to find upside momentum following bearish oil reports and a fragile risk sentiment:<\/span><\/p>\n