A trifecta of earnings, data and monetary policy will make its way through the financial markets this week. Investors looking for evidence of a broad pickup in corporate finances and the economy at large will have plenty to consider over the next five days.
Dow blue-chips headline this week’s earnings calendar, with a combination of industrials and energy companies set to make headlines.
On the data front, the Commerce Department will issue its first estimate of second-quarter GDP on Friday. The world’s largest economy is coming off a dismal first quarter, where growth slowed to just 1.4% annually – and that was after two upward revisions.
The Federal Reserve will also coalesce in Washington to discuss monetary policy. The Fed has raised interest rates three times since December, but will remain on the sidelines this week. To learn how the central bank influences the U.S. financial system, read: Rising Interest Rates.
Earnings season was in full swing last week. To compare this week’s Market Glance with the previous edition, click here.
The week begins with flash PMI data courtesy of IHS Markit. The composite indicator provides an early estimate of private sector output in the manufacturing and services industries. It is considered a good representation of the health of the U.S. economy.