Tesla, Netflix and housing data dominate week ahead
The Barbie movie, based on Mattel's iconic doll, hits theaters this week
How did stocks perform this past week?
Jack Otter and the panel recap a successful week in the stock market on ‘Barron’s Roundtable.’
The major banks will wrap up earnings in the coming week as investors keep an eye on quarterly reports from Tesla and Netflix amid a string of housing and mortgage data.
How did stocks perform this past week?
Jack Otter and the panel recap a successful week in the stock market on ‘Barron’s Roundtable.’
JPMORGAN CHASE PROFIT JUMPS, HELPED BY FIRST REPUBLIC PURCHASE
Meanwhile, Wall Street bulls are in control as stocks continue to rise, with the Dow Jones Industrial, S&P 500 and Nasdaq Composite all scoring another weekly win.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 39512.84 | +125.08 | +0.32% |
| SP500 | S&P 500 | 5222.68 | +8.60 | +0.16% |
| I:DJI | DOW JONES AVERAGES | 39512.84 | +125.08 | +0.32% |
The Nasdaq's 3.3% gain was the best in about four months.
Nasdaq
.TESLA COMMITS TO PROMOTING 'CORE SOCIALIST VALUES' IN PLEDGE WITH CHINESE AUTO COMPANIES
Monday, July 17
Wall Street has new IPO
Apogee Therapy will launch its Initial Public Offering (IPO) of 17,650,000 shares of common stock at a price of $17.00 per share.
Also on Monday, Home Bancorp and FB Financial will kick off another week of earnings from regional and global financial institutions.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| HBCP | HOME BANCORP INC | 37.49 | -0.39 | -1.03% |
| BK | THE BANK OF NEW YORK MELLON CORP. | 58.44 | +0.09 | +0.15% |
Tuesday, July 18
Bank earnings
Bank of America, Morgan Stanley, Charles Schwab, PNC Financial and PacWest are all slated to report on Tuesday, with economic data also scheduled for release on manufacturing, retail sales and business inventories.
Bank of America
.Meanwhile, retail sales, a measure of how much consumers spent on a number of everyday goods, including cars, food and gasoline, are expected to show an increase after rising 0.3% in May, which is slightly above the 0.1% increase projected by Refinitiv economists, although it is below the 0.4% gain recorded in April.
Retail market braces for less spending as student loan payments restart
FOX Business' Lydia Hu explains how student loan borrowers could cause negative sales impacts on top retail brands.
Wednesday, July 19
Tech earnings, housing data
Tesla, Netflix and housing reports will lead Wall Street on Wednesday, as Tesla shareholders hope for another strong quarter in revenues after the company beat a delivery record in early June.
Tesla
.SAFETY ADMINISTRATION WANTS ANSWERS FROM TESLA ON AUTOPILOT PROBE
Meanwhile, Netflix is also expected to show a revenue increase after cracking down on password sharing over the spring.
FILE - The Netflix logo is pictured on a remote control in Portland, Ore., Aug. 13, 2020. Netflix said Wednesday, Dec. 21, 2022, that it plans to build a state-of-the-art production facility at a former Army base at the Jersey Shore that will cost mo (AP Photo/Jenny Kane / AP Newsroom)
The streaming platform added more new subscriptions between May 25 and May 28 than in any other four-day period since Antenna began compiling the information in 2019. Over that period, average daily signups peaked at 73,000, and from May 26 to May 27, Netflix saw 100,000 new daily sign-ups.
Credit Suisse among several firms that upgraded the share price target, forecasting the stock can rise another 12% from current levels to $371, benefiting the Hollywood strike.
Netflix
.Also on Wednesday, economic reports on housing starts, a measure of future demand, will be released.
Thursday, July 20
Initial jobless claims
Jobless claims and existing home sales will lead Thursday’s economic data. Last month, those filing for unemployment jumped to their highest level since 2021.
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee meeting in Washington, D.C., on March 22, 2023. (Photographer: Al Drago/Bloomberg via Getty Images / Getty Images)
Meanwhile, Wall Street traders will watch out for earnings from American Airlines and Alaskan Airlines, and the Conference Board will release the latest Leading Economic Inidcators, which is closely watched by the Federal Reserve ahead of its end of the month meeting.
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Friday, July 21
Dow stock takes center stage
Blue-chip stock American Express will lead Friday’s list of earnings revealing the latest on credit card borrowing which is on the rise rebounding from the pandemic, according to banks including Citigroup and Bank of America.
American Express
.And the Barbie movie will officially hit the theaters based on Mattel's iconic doll.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MAT | MATTEL INC. | 18.66 | -0.21 | -1.11% |
The film stars Margot Robbie as Barbie, and Ryan Gosling, as her boyfriend Ken.
Ryan Gosling, left, and Margot Robbie pose for photographers upon arrival at the premiere of the film 'Barbie' on Wednesday, July 12, 2023, in London. ((Vianney Le Caer/Invision/AP))
There are no major economic reports scheduled in the U.S. on Friday.
FOX Business reporter Megan Henney contributed to this report.