Active Stocks
Fri May 24 2024 15:59:27
  1. Tata Steel share price
  2. 174.80 -0.37%
  1. NTPC share price
  2. 374.85 0.68%
  1. State Bank Of India share price
  2. 828.60 -0.45%
  1. ITC share price
  2. 436.10 -1.16%
  1. Power Grid Corporation Of India share price
  2. 318.50 -0.39%
Business News/ Markets / Stock Markets/  Wall Street week ahead: Focus on US GDP data, earnings from Microsoft, Alphabet, Meta Platforms, Tesla
BackBack

Wall Street week ahead: Focus on US GDP data, earnings from Microsoft, Alphabet, Meta Platforms, Tesla

The US GDP data for first quarter will be released on April 25, followed by Federal Reserve’s preferred inflation gauge PCE index data on April 26

US stocks closed mixed on Friday. REUTERSPremium
US stocks closed mixed on Friday. REUTERS

On Wall Street in the week ahead, the focus of stock market investors will be on the first quarter (Q1) US GDP data, the Federal Reserve’s preferred inflation gauge – the PCE (personal consumption expenditures) index, and quarterly financial results from Microsoft, Alphabet, Meta Platforms and Tesla.

Market participants will also keep an eye on the Middle East conflict and crude oil prices.

Economic events

On April 23 (Tuesday), data on S&P flash US services PMI and S&P flash US manufacturing PMI for April will be released. 

A report on new home sales for March will also be released on the same day.

ALSO READ: ‘Mag Seven’ Get Crushed Before Next Week’s Results: Markets Wrap

April 25 (Thursday) will see the release of the US GDP (gross domestic product) data for the first quarter.

On April 26 (Friday), data on PCE index will be unveiled.

Earnings

Following companies are due to report quarterly earnings in the week ahead— Verizon, Truist, Albertsons Companies, Visa, Tesla, PepsiCo, Texas Instruments, Philip Morris International, UPS, Lockheed Martin, Mattel, General Motors, Meta Platforms, IBM, AT&T, Boeing, Chipotle, General Dynamics, Hilton Worldwide, Ford Motor, Microsoft, Alphabet, Merck, Caterpillar, Comcast, Intel, Altria Group, TotalEnergies, Exxon Mobil, AbbVie, Chevron, and Colgate-Palmolive.

US markets last week

US stocks closed mixed on Friday. The Dow Jones Industrial Average rose 211.02 points, or 0.56 per cent, to 37,986.40, the S&P 500 lost 43.89 points, or 0.88 per cent, to 4,967.23 and the Nasdaq Composite lost 319.49 points, or 2.05 per cent, to 15,282.01.

Last week, top Fed officials had said  that the central bank could hold interest rates at their high level for a while.

High rates hurt prices for all kinds of investments. 

The yield on the 10-year Treasury eased to 4.62 per cent on Friday from 4.64 per cent on Thursday.

The US dollar fell to 154.60 yen from 154.61 Japanese yen. The euro rose to $1.0650 from $1.0645. 

Benchmark US crude oil for May delivery rose 41 cents to $83.14 per barrel on Friday. Brent crude for June delivery added 18 cents to $87.29 per barrel.

Gold for June delivery gained $15.80 to $2,413.80 per ounce. Silver for May delivery rose 46 cents to $28.84 per ounce. 

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 21 Apr 2024, 10:14 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started