The Week Ahead: Heavy Earnings Reports and Macro Data
A Week of Economic and Corporate News
The week begins with a relatively calm Monday. A key event is the earnings report from Whirlpool, a competitor to Electrolux. The company previously strengthened its margins and reiterated its full-year forecast, despite declining sales. The stock was rewarded with a price increase.
Also on Monday, trade talks between the US and China commence in Stockholm. This is the third meeting in three months, with both sides hoping to extend the temporary tariff pause in the ongoing trade war.
Tuesday: A Busy Day for Earnings and Macro Data
Tuesday is significantly more eventful. Pharmaceutical giant AstraZeneca will release its quarterly report. The stock has performed strongly recently following positive Phase 3 results for the cancer drug Gefurlimab and news of a major investment in production and research in the US.
Tobii will also report, after its stock surged 23 percent following its previous report. Other Tuesday reports include Spotify, which has more than doubled its stock price in the past year, as well as global heavyweights such as Boeing, Merck, Barclays, and Procter & Gamble.
The macroeconomic side also delivers: Statistics Sweden’s (SCB) GDP indicator for the second quarter, an economic forecast from the IMF, and US statistics on trade balance, house prices, labor market, and household confidence.
Wednesday: Focus on the Federal Reserve
On Wednesday, companies reporting include Securitas, which is aiming to reach its margin target of 8 percent. The latest quarter saw them at 6.4 percent. Hacksaw and Arion Banki are also on the schedule. However, the main focus will be on the Federal Reserve’s interest rate decision in the evening. The market expects unchanged interest rates but will be looking for signals ahead of the September meeting. Fed Chairman Jerome Powell will also hold a press conference.
Meta, Qualcomm, Mercedes-Benz, and UBS are among the companies also reporting this day. Macroeconomically, GDP figures will be released from several European countries, as well as retail sales and economic indicators from both the EU and Sweden.
Thursday: Tech Giants in the Spotlight
Thursday sees two more tech giants in focus: Apple and Amazon. Apple has had a weak performance on the stock market this year, with the stock down nearly 15 percent, weighed down by weak iPhone sales in China. The focus is now on AI features and their potential to drive future revenue. Amazon, on the other hand, has performed better, but still lags behind the S&P 500.
Other companies reporting include Metsä Board, Outokumpu, DSV, Ranplan, and Flerie.
The macroeconomic calendar includes fresh inflation figures from the EMU and several European countries, unemployment data from Germany and the US, and Canada’s GDP. In addition, the US’s important PCE inflation, which is the Fed’s most closely watched measure, will be released.
Friday: A Macro-Focused End to the Week
The week concludes with a Friday dominated by macro events. Focus will be on new purchasing managers’ indices (PMI) from Sweden, the Eurozone, and the US. However, the most significant event is the US employment figure, “non-farm payrolls.” The last report showed 147,000 new jobs created, and this time an increase of 110,000 is expected.
Exxon Mobil, Chevron, Nintendo, and Bimobject are among the companies also reporting.
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