Earnings reports will dominate next week’s economic calendar, not least Apple’s (AAPL) quarterly results, which could determine the direction of that company’s stock.
All U.S. securities markets are closed on Monday for the Martin Luther King Jr. holiday.
Apple will report on Wednesday and investors will be looking for another record-breaking quarter. So will analysts, a majority of whom believe the Cupertino, Calif.-based tech and consumer gadgets company had its best quarter ever.
Apple’s stock has been weak in recent weeks, falling well below its all-time high of $705 recorded in September. The stock closed down $2.68 on Friday at $500.
Analysts say the company will need another blowout quarter to get that upward momentum working again.
A total of 11 components of the Dow Jones Industrial average will be reporting.
Among the bellwether companies scheduled to report next week include Google (GOOG), Travelers (TRV), Johnson & Johnson (JNJ) and Verizon Communication (VZ) on Tuesday; McDonald’s (MCD) and Netflix (NFLX) on Wednesday; AT&T (T), Bristol-Myers Squibb (BMY) and Microsoft (MSFT) on Thursday.
Also due next week is housing data, including a report on Tuesday related to existing homes sales for December. Sales of previously-owned homes rose in November to the highest level in three years.
And on Friday, monthly new home sales for December are due. New home sales were also up in November, the highest in two years.