What to Expect in the Markets this Week

Key Takeaways

• Several large financial companies are expected to report earnings in the coming week, including Goldman Sachs Bank of America Citigroup.
• Investors will also be expecting quarterly results for Netflix, TSMC United Airlines and UnitedHealth Group.
• This week will bring us updates on housing starts and retail sales as well as homebuilder confidence.

This week, more big banks will report earnings, along with entertainment, health care and other giants.

This week, Goldman Sachs (GS), Bank of America(BAC), Citigroup(C), Netflix (NFLX), Taiwan Semiconductor Manufacturing Company(TSM), United Airlines and UnitedHealth Group are scheduled to report. 

The week’s events will also include updates on retail spending as economists keep an eye out for a possible slowdown in consumer demand, while data on housing starts and builder confidence could provide insight into the housing sector. 

Monday, April 14

• Richmond Fed president Tom Barkin, and Atlanta Fed president Raphael Bostic will deliver remarks
• Goldman Sachs, M&T Bank (MTB), Pinnacle Financial Partners (PNFP), FB Financial (FBK), and Applied Digital (APLD) are scheduled to report earnings

Tuesday, April 15, 2019

• Federal income tax filing deadline
• Import/export prices index (March).
• Empire State Manufacturing Index for April
• Johnson & Johnson (JNJ), Bank of America, Citigroup, PNC Financial (PNC), Ericsson (ERIC), and United Airlines are scheduled to report earnings

Wednesday, April 16

• U.S. retail sales (March)
• Industrial production/capacity Utilization (March).
• Business inventories for February
• Homebuilder confidence Index (April).
• The Cleveland Fed President Beth Hammack will deliver remarks, as will the Kansas City Fed president Jeffrey Schmid and Dallas Fed president Lorie Logan.
• ASML Holdings(ASML), Abbott Laboratories(ABT), Prologis(PLD), U.S. Bancorps (USB), Kinder Morgans (KMI), Travelers and CSX are scheduled to report their earnings.

Thursday, April 17

• Initial claims for unemployment (Week ending April 12, 2019)
• Housing Starts (March).
• Philadelphia Fed Manufacturing Survey, April
• Earnings are expected to be reported by UnitedHealth Group, Netflix (NFLX), American Express, Marsh McLennan Company, Blackstone (BX), Truist Financial Company, and Marsh McLennan Company.

Friday, 18 April

• Mary Daly will be delivering remarks at the San Francisco Fed.

Retail Sales, Housing Data Due Amid Tariff Uncertainty

Retail sales data for the month of March are indicative that consumer spending is slowing down after sales declined in February and slightly recovered in January. The retail report’s data for restaurant and bar expenditures, which declined last month after recovering slightly in February, could provide insight into consumer spending habits amid fears of an economic slowdown caused by President Donald Trump’s tariff policy. 

This week, housing market data will also be released. Thursday’s release of March Housing Starts will give investors a quick update on housing inventory, as low levels of stock are exacerbating the affordability issue. The homebuilder’s confidence survey, which will be released earlier in the week to provide an insight into the construction expectations of builders as they prepare for increased costs due to tariffs, will give investors a better understanding of the housing supply. 

More big banks to report earnings

Investors will be paying attention to what executives say about President Trump’s tariffs and economic uncertainty as several large financial companies report this week. On Friday, JPMorgan Chase (JPM) CEO Jamie Dimon said he expects more companies to suspend their full-year outlooks and warned of “considerable turbulence.”

Goldman Sachs will report its earnings on Monday, after the bank’s profits and revenues blew past analyst expectations in the previous quarter. Bank of America and Citibank are set to follow Tuesday, with M&T Bank, PNC Financial, American Express, and U.S. Bancorp also due to release results this week.

Netflix’s scheduled Thursday report comes after the streaming company reported strong revenue increases and raised its forecast revenue for 2025 in the previous quarterly. This is the first time Netflix will not provide subscriber numbers in its report. 

TSMC (TSM) is expected to report earnings on Thursday, after the world’s biggest contract chip manufacturer reported a profit that was higher than expected in its previous quarterly earnings report.

UnitedHealth Group is set to report on the Thursday after the health insurer reported an 7% growth in revenue year-over-year in the prior quarter. This was below analyst expectations.