Date: April 26, 2021
News Author(s): Jesse Cohen
Photo Credit:Reuters
Source: investing.com
Market participants are bracing for heightened volatility as the coming week will be dominated by several market-moving events, including a deluge of earnings news, and the Federal Reserve's monetary policy meeting.
There is also important first quarter U.S. growth data this week, which should lend further support to the notion that the economy is continuing to recover from its virus-related slowdown.
New spending and tax proposals from the White House will also be in focus.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.
There are about 180 S&P 500 companies, including 10 Dow components, reporting corporate results in what will be the busiest week of the first quarter earnings season on Wall Street.
Most of the focus will be on the five big-name mega-cap tech companies - Facebook (NASDAQ:FB), Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), and Google-parent Alphabet (NASDAQ:GOOGL) - collectively known as the ‘FAAMG’ group of stocks.
All five are set to enjoy another quarter of blockbuster earnings and sales growth, given their growing dominance in the tech space.
Software and cloud giant Microsoft and internet search titan Google are both expected to release their latest numbers on Tuesday after the markets close.
Tech and consumer electronics conglomerate Apple and social media company Facebook then follow with their respective earnings after the bell on Wednesday.
E-commerce and cloud behemoth Amazon is slated to release Q1 results after the market closes on Thursday.
Meanwhile, Tesla (NASDAQ:TSLA) - the sixth most valuable company listed on the New York Stock Exchange - reports on Monday.
Some of other high-profile tech names reporting this week are Advanced Micro Devices (NASDAQ:AMD), Twitter (NYSE:TWTR), Pinterest (NYSE:PINS), Shopify (NYSE:SHOP), eBay (NASDAQ:EBAY), Qualcomm (NASDAQ:QCOM), and Texas Instruments (NASDAQ:TXN).
Staying on the earnings front, a diverse group of blue chips, such as Boeing (NYSE:BA), Caterpillar (NYSE:CAT), General Electric (NYSE:GE), 3M Company (NYSE:MMM), Visa (NYSE:V), Mastercard (NYSE:MA), and United Parcel Service (NYSE:UPS) will also report their latest quarterly results this week.
Q1 reports from restaurant operators McDonald’s (NYSE:MCD), Starbucks (NASDAQ:SBUX), and Domino’s Pizza (NYSE:DPZ) are also on the agenda, as are corporate results from automakers Ford Motor Company (NYSE:F), and Nio (NYSE:NIO).
Pharmaceutical companies, like AstraZeneca (NASDAQ:AZN), Merck (NYSE:MRK), Bristol-Myers Squibb (NYSE:BMY), and Gilead Sciences (NASDAQ:GILD) are all on the docket as well.
Finally, Big Oil majors, ExxonMobil (NYSE:XOM) and Chevron (NYSE:CVX), are both set to round up the week when they release their latest earnings on Friday.
The Q1 corporate earnings season has gotten off to a strong start, with 86% of companies reporting earnings beats so far, according to Refinitiv.
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