The week ahead: Earnings in full swing, ECB on Thursday

Read the key events to monitor for the week which starts on April 19, 2021.  

Earnings season gets into full swing in the week ahead, with a broad swath of corporate America reporting results. From Coca-Cola and IBM to Johnson & Johnson and Netflix, investors will hear from a broad swath of corporate America.

So far, earnings growth for the S&P 500 is 30.2%, based on actual reports and estimates, making it the best quarter since the third quarter of 2010, according to FactSet. With one week in, companies are beating earnings estimates by a wide margin of more than 84%, according to Refinitiv. The key focus will be on profit margins, and whether rising costs are pressuring profits and suggesting a build-up of inflation in the economy.

There is little data but focus will be on jobless claims after a surprise decline in Thursday’s report. On the monetary policy front we have Bank of Canada interest rates decision on Wednesday and ECB decision on Thursday. 

 

WEEKLY CALENDAR 


Monday

EarningsCoca-Cola, IBM, United Airlines, Zions Bancorp, FNB, Steel DynamicsMacroJapan: Japanese Trade Balance
China: People's Bank of China Loan Prime Rate Decision

Tuesday

EarningsJohnson & Johnson, Travelers, Procter and Gamble, Netflix, Abbott Labs, CSX, Lockheed Martin, Intuitive Surgical, Tenet Healthcare, Philip Morris, Northern Trust, Fifth Third, KeyCorp, ComericaMacroUK: Unemployment Rate
Germany: Producer Price Index (PPI)

Wednesday

EarningsVerizon, Chipotle, Whirlpool, Nasdaq, Baker Hughes, Anthem, Netgear, Spirit Airlines, Canadian Pacific Railway, Lam Research, Discover Financial, SLM, Halliburton, Knight-Swift TransportationMacroUK: Unemployment Rate
Germany: Producer Price Index (PPI)
U.K: Consumer Price Index (CPI)
Monetary PolicyBank of Canada Monetary Policy Report and Interest Rate Decision


Thursday

EarningsAT&T, Intel, D.R. Horton, American Airlines, Union Pacific, Alaska Air, Pentair, Tractor Supply, Celanese, Seagate Technology Biogen, Dow, Credit Suisse, SAP, Boston Beer, Mattel, Snap, Valero Energy, Freeport-McMoRan, Quest DiagnosticsMacroUS: Initial jobless claims, Existing home sales
Japan: Core CPI
Monetary PolicyEU: European Central Bank Monetary Policy Statement and Interest Rate Decision


Friday

EarningsAmerican Express, Honeywell, Daimler, Regions Financial, Schlumberger, Kimberly-ClarkMacroUS: Preliminary Manufacturing PMI, Services PMI, New home sales
UK: Retail Sales, Preliminary Manufacturing and Services Purchasing Managers Indexes (PMIs)
EU: French Preliminary Manufacturing and Services (PMIs), German Preliminary Manufacturing and Services (PMIs), Eurozone Preliminary Manufacturing and Services (PMIs)

 

Sources: CNBC, Investopedia / Markit

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