Earnings reports will dominate the week as big names like Bank of America (BAC), Netflix (NFLX), Tesla (TSLA), and Twitter (TWTR) report amid plenty of drama.
While investors have already baked into share prices that the earnings season will show some disappointments and downward revisions, the latest reads on consumer demand, labor shortages, and supply chain issues will still be critical.
The economic calendar next week includes updates on housing starts, existing home sales, and the Philadelphia Fed Manufacturing Index. Federal Reserve speakers will be in a blackout period ahead of the FOMC meeting on July 26-27, but futures trading on fed funds contract will be closely watched with the odds for a 100-point hike gyrating wildly.
On the corporate calendar, Nikola (NASDAQ:NKLA) stockholders will vote again on issuing more shares and GameStop’s (NYSE:GME) four-of-one stock split will became effective at the very end of the week.