Alphabet Results, State of the Union and Other Thing for Investors to Watch This Week
Fourth-quarter earnings season remains in full swing, with 90 S&P 500 components releasing results for their last period of 2018 this week. Google-parent Alphabet kicks off the week on Monday, then Walt Disney and grain company Archer-Daniels-Midland report on Tuesday. General Motors will be the focus on Wednesday, followed by a busy Thursday: Twitter, healthcare distributor Cardinal Health, and oil refiner Marathon Petroleum highlight that day’s earnings. Fellow refiner Phillips 66 closes out the week on Friday.
In economic data, Monday brings shutdown-postponed final November durable goods orders from the Census Bureau, a decent proxy for business investment. Economists forecast a 1.5% increase, rebounding from October’s 4.3% drop in orders. Other data includes the Institute for Supply Management’s Non-Manufacturing Index for January on Tuesday and the Bureau of Labor’s fourth-quarter labor cost and productivity figures on Wednesday. Meanwhile, President Donald Trump is scheduled to deliver his State of the Union Address before Congress on Tuesday night.
The Census Bureau releases its final Durable Goods report for November. Economists forecast a 1.5% rise after falling 4.3% in October.
Becton Dickinson, BP, Chubb ,Electronic Arts,Estée Lauder,Viacom, and Walt Disney report earnings.
Many stock markets across Asia are closed in observance of the Lunar New Year; 2019 is the Year of the Pig in the Chinese calendar.
Emerson Electric and Rockwell Automation host their annual shareholder meetings in St. Louis and Milwaukee, respectively.
Xerox hosts its 2019 investor day in New York.
Charles Schwab holds a conference call to discuss its winter business update.
The Institute for Supply Management releases its Non-Manufacturing Report on Business for January. Expectations are for a 57 reading, roughly equal to December’s.
Texas Instruments will webcast a meeting to discuss its capital management strategy for the years ahead.
Boston Scientific, Chipotle Mexican Grill, Cognizant Technology Solutions, General Motors, Regeneron Pharmaceuticals, MetLife, and Spotify Technology all report quarterly results.
The Bureau of Labor Statistics reports labor costs and productivity for fourth-quarter 2018. Consensus estimates are for a 1.7% increase in labor costs and a 1.6% gain in productivity. This compares with jumps of 0.9% and 2.3%, respectively, for third-quarter 2018.
Federal Reserve Chairman Jerome Powell will speak to educators at a town hall in Washington, D.C. There also will be a Q&A session, with queries from the live audience as well as via webcast from other Federal Reserve offices.
The Census Bureau releases its Trade Balance in Goods and Services for November. October’s deficit of $55.5 billion was the largest shortfall in a decade. November’s estimate is for a deficit of $54 billion.
Expedia Group, Fiserv, Intercontinental Exchange, Kellogg, Masco, Mattel, Snap-on, Tapestry, Yum! Brands, and Twitter hold conference calls to discuss earnings.
The Bank of England announces its monetary-policy decision. The central bank is widely expected to keep its benchmark interest rate at 0.75%.
Tyson Foods hosts its annual shareholders meeting in Springdale, Ark.
The Department of Labor reports initial jobless claims for the week ending on Jan. 26. The four-week average of claims is 220,000.
The Federal Reserve releases consumer credit data for December. Total consumer credit debt is expected to grow by $16 billion to just short of $4 trillion, a record high.
Cboe Global Markets, Exelon, Hasbro, and Phillips 66 report quarterly results.
–Robert Teitelman and Dan Lam
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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