Stocks finished last week mixed after a profit warning from Chevron. Today, Asian markets closed lower, European markets turned positive, and U.S. futures point to a higher start ahead of a busy week of data.
Only 6% of the S&P 500, or 31 companies, are due to report earnings results this week. But the list includes major financials Goldman Sachs, JP Morgan, Bank of America, and Citigroup. Several blue-chips are also on the calendar. Johnson & Johnson, IBM, General Electric, and Intel all post quarterly results this week.
The economic calendar for today is relatively light, with the only key report being the government’s monthly budget statement for June. The rest of the week will be packed with data. Retail sales data tomorrow will be the main gauge for the consumer sector. The PPI and CPI will take center stage on the inflation front Tuesday and Wednesday. Reports on industrial production, housing starts, jobless claims will also be noteworthy, as will the minutes from the June 24 FOMC meeting.
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