By Jesse Cohen
Investing.com – Dozens of companies from a wide variety of industries will be releasing quarterly results in the coming week as Wall Street’s first quarter earnings season is in full swing.
After a week, companies have outperformed earnings estimates by more than 84%, according to Refinitiv.
In the meantime, the US economic data will remain in focus as investors look for further signals of economic strength. The latest reports on home sales and manufacturing activity are high on the agenda.
In other European countries, markets are watching the European Central Bank’s monetary policy meeting for further guidance on interest rates and incentives.
Before the coming week, Investing.com compiled a list of these and other key events that are likely to affect the markets.
1. Netflix, Intel, IBM Kick Off Tech Earnings
For the coming week, around 80 companies are reporting earnings, including 10 stocks, in the first big week of the first quarter earnings season.
The focus will be on Netflix (NASDAQ :), which will release its latest financial results after the closing bell on Tuesday.
The streaming giant is estimated to post adjusted earnings per share (EPS) of.
Perhaps of more interest, Wall Street will be closely monitoring subscriber growth, which usually plays a much larger role in how the stock performs after earnings.
NFLX stock hit a record high on January 20, immediately following fourth quarter results, but has declined since then. Options markets expect the stock to move after the 7% gain.
Income from technology experts like Intel (NASDAQ 🙂 and IBM (NYSE 🙂 as well as results from Snap (NYSE 🙂 and Lam Research (NASDAQ 🙂 are also on the agenda.
2. Coca-Cola, Johnson & Johnson, Procter & Gamble also report
Additionally, this week’s earnings calendar features high profile names like (NYSE :),) (NYSE :), and (NYSE :).
Blue chips like AT&T (NYSE :), Verizon (NYSE :), Lockheed Martin (NYSE :), Harley-Davidson (NYSE :), Halliburton (NYSE :), Honeywell (NYSE 🙂 and American Express (NYSE 🙂 are also among the dozen of large companies posting results.
The income of the troubled airlines American Airlines (NASDAQ :), United Airlines (NASDAQ 🙂 and Southwest Airlines (NYSE 🙂 are also on the program.
3. US Housing Data
The National Association of Realtors will be releasing data on existing home sales for March at 10:00 a.m. ET on Thursday. The consensus forecast assumes the report will show that existing home sales have risen from a 6.6% decline in February.
The commercial department will then publish a report on new home sales on Friday. The data – due at 10:00 a.m.CET – is expected to increase in March to an increase of 18.2% in the previous month.
4. Flash US PMIs
IHS Markit’s April Composite Flash US Purchasing Managers’ Index (PMI) expires on Friday at 9:45 a.m. ET as it is expected to rise to 59.7 from 59.7 in March
The index, which measures the combined output of sectors and sectors, is considered a good guide to overall economic health.
In addition, this week’s rather light economic calendar also includes the latest data on which fell to a new pre-pandemic low last week.
5. Meeting of the policy of the European Central Bank
It is almost certain that by the end of their monetary policy session on Thursday at 1145 GMT (7:45 ET) rates will stay at their current record lows.
45 minutes after the rate announcement, President Christine Lagarde will be watching closely as investors look for further clues about the future pace of bond purchases by the central bank.
The ECB has stepped up its bond-buying program to prevent an increase in the cost of borrowing from affecting the region’s economy. However, recent signs of a rapid recovery could raise questions about when it will start pulling back on support.
– Reuters contributed to this report