AMD, PayPal, Starbucks, Uber, Paramount, and Other Stocks for Investors to Watch This Week

AMD, PayPal, Starbucks, Uber, Paramount, and Other Stocks for Investors to Watch This Week

It’s the peak stretch of second-quarter earnings season, with roughly 150


S&P500

firms scheduled to report this week. The highlights on the economic calendar will be a pair of purchasing managers’ index readings and jobs Friday.

Wednesday’s earnings highlights will be

Booking Holdings
,

CVS Health
,

eBay
,

and

Moderna
.

Thursday will bring results from Alibaba Group Holding, Block,

Conoco Phillips
,

Paramount Global
,

and

Warner Bros. Discovery
,

before

EOG Resources

and

Western Digital

close the week on Friday.

Economic data out this week will include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services

PMI

on Wednesday. Both measures of activity are seen declining from June.

On Tuesday, the Bureau of Labor Statistics will release the Job Openings and Labor Turnover Survey for June. Then, on Thursday, the Bank of England will announce a monetary-policy decision. An interest-rate hike is likely to be in store.

Finally, the highlight of the week will be the Bureau of Labor Statistics’ jobs report for July on Friday morning. Economists’ consensus calls for growth of 250,000 nonfarm payrolls and for the unemployment rate to remain at 3.6%.

Monday 8/1

Arista Networks
,

DaVita
,

Devon Energy, Global Payments,

SBA Communications
,

Simon Property Group, and

williams

cos. deferred earnings.

The Census Bureau reports construction spending statistics for June. Consensus estimate is for a 0.2% monthly rise in total construction outlays, to a seasonally adjusted annual rate of $1.78 trillion.

The Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for July. Economists forecast a 52.2 reading, slightly lower than June’s 53, which was the lowest in two years.

Tuesday 8/2

The Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey. Expectations are for 11.1 million job openings on the last business day for June, 154,000 fewer than in May.

Advanced Micro Devices, Airbnb, BP, Caterpillar,

Cummins
,

DuPont
,

Eaton, Electronic Arts,

Gilead Sciences
,

Marathon Petroleum, Marriott International, Occidental Petroleum, PayPal Holdings,

Prudential Financial
,

S&P Global, SolarEdge Technologies, Starbucks, and Uber Technologies announce quarterly results.

Wednesday 8/3

AmerisourceBergen
,

Booking Holdings,

Clorox
,

CVS Health, eBay,

Entergy
,

Exelon
,

Fortinet
,

Ingersoll-Rand
,

McKesson
,

MetLife
,

Moderna,

Regeneron Pharmaceuticals
,

and

Yum! Brands

release earnings.

The ISM releases its Services PMI for July. The consensus call is for a 53.3 reading, two points less than in June. The Services PMI has fallen for three consecutive months and is at its lowest level since May of 2020.

Thursday 8/4

Alibaba Group Holding,

Amgen
,

Becton Dickinson
,

block,

Cigna
,

ConocoPhillips,

Duke Energy
,

Eli Lilly
,

Expedia Group
,

Fidelity National Information Services
,

Intercontinental Exchange, Kellogg,

Novo Nordisk
,

Paramount Global,

sempra
,

Vertex Pharmaceuticals
,

Warner Bros. Discovery, and

Zoetis

hold calls to discuss quarterly results.

The Bank of England announces its monetary-policy decision. Traders are pricing in a 50% chance that the central bank will raise its key interest rate by a half-percentage point, to 1.75%.

The Department of Labor reports initial jobless claims for the week ending on July 30. The four-week average for claims is 249,250—the highest level since late last year.

Friday 8/5

Western Digital and Westinghouse Air Brake Technologies deferred earnings.

The Bureau of Labor Statistics releases the jobs report for July. Economists think the economy added 250,000 jobs, after a 372,000 increase in June. The unemployment rate is forecast to remain unchanged near a half-century low of 3.6%.

Write to Nicholas Jasinski at nicholas.jasinski@barrons.com

.

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