Reliance Trading Co. Limited – Busy Week in the US Markets – Earnings Calendar

WAN CHAI, Hong Kong - July 21, 2019 - PRLog -- It's the busiest week for second-quarter earnings with about 25% of the S&P 500 gearing up to release results. Tech heavyweights Alphabet, Amazon, Facebook, Twitter, Snap and Tesla will drop their reports, as well as Dow components AT&T, Boeing, Caterpillar, 3M, Visa, McDonald's and Coca-Cola.

Meanwhile, many are expecting growth to have slowed when key GDP data is released on Friday. Given that the highly-anticipated Federal Open Market Committee (FOMC) policy meeting is at the end of the month, the GDP data will likely play a crucial role for the Fed, as it looks to potentially cut rates. Economists expect the U.S. economy to have grown at a 1.8% annualized rate during the second quarter, down from the 3.1% growth rate in the first quarter, according to data compiled by Bloomberg.

Fed officials will not be making any public comments as the next meeting approaches; however, recent comments from several policymakers have all but guaranteed an interest rate cut. The Fed fund futures are currently predicting a 77% chance of a 25 basis point cut and a 22% chance of a 50 basis point cut at the upcoming meeting.

In Washington, Robert Mueller, former special counsel, will take the hot seat in Capitol Hill. Market watchers will likely be closely monitoring his testimony in front of both the House Judiciary and House Intelligence Committees on Wednesday.

Earnings calendar

Monday: Halliburton before market open; Steel Dynamics, Whirlpool after market close

Tuesday: AutoNation, Biogen, Centene, Coca-Cola, Harley-Davidson, Hasbro, JetBlue, Kimberly-Clark, Lockheed Martin, PulteGroup, Sherwin-Williams, United Technologies before market open; Chipotle, Discover Financial, Snap, Texas Instruments, Visa after market close

Wednesday: Anthem, AT&T, Boeing, Caterpillar, Freeport-McMoran, Norfolk Southern, Northrop Grumman, UPS, V.F. Corp before market open; Deutsche Bank, Facebook, Ford, GlaxoSmithKline, Las Vegas Sands, O'Reilly, PayPal, Spirit Airlines, Tesla, Xilinx after market close

Thursday: 3M, Anheuser-Busch InBev, Astrazeneca, Bristol-Myers Squibb, Comcast, Hershey, Raytheon, Southwest Airlines, World Wrestling Entertainment before market open; Alaska Air, Alphabet, Amazon, BJ's Restaurants, Boston Beer, Expedia, Mattel, MGM Resorts, Starbucks after market close

Friday: AbbVie, Colgate-Palmolive, McDonald's, Twitter before market open

Visit www.reliancetradingco.com or contact us at info@reliancetradingco.com for further details.

About Reliance Trading Co. Limited

Experienced, local and independent, Reliance Trading Co. Limited has a deep knowledge of markets and what causes change; we have local roots in Hong Kong but maintain a global reach and worldview; and we are a truly independent business which allows us to give you sound investment advice based on facts, not spin.