Illustration by Robert A. Di Ieso, Jr.
First quarter earnings season is here, with 47 S&P 500 constituents releasing results this week. Banks dominate the early reporters, including Goldman Sachs and Citigroup on Monday, Bank of America on Tuesday, and Morgan Stanley on Wednesday. Tuesday is a busy day: Netflix, UnitedHealth Group, Johnson & Johnson, United Continental Holdings, and International Business Machines all report. Other highlights include results from PepsiCo on Wednesday and American Express and industrial bell-weathers Honeywell International and Danaher on Thursday.
Pinterest is set to make it public-market debut Thursday on the New York Stock Exchange. It’s seeking a price of $15 to $17 per share and will trade under the ticker “PINS.”
Economic data out this week includes the National Association of Home Builders/
Housing Market Index for April on Tuesday. On Thursday, the Census Bureau reports retail sales data for March and the Conference Board releases its Leading Economic Index for March.
The Federal Reserve Bank of New York releases its Empire State Manufacturing Survey for April. Consensus estimates are for a six reading, up from March’s 3.7. A positive reading indicates that business activity in New York state is growing.
face off in a San Diego courtroom over various patent disputes. Apple CEO Tim Cook is expected to take the stand.
Also, it’s Tax Day! Federal returns are due today, except for residents of Maine and Massachusetts, who will have two extra days.
release quarterly results.
host their annual shareholder meetings in Cincinnati and Chicago, respectively.
The National Association of Home Builders releases the NAHB/Wells Fargo Housing Market Index for April. Economists forecast a 63 reading, up from March’s 62.
The Census Bureau reports the trade deficit in goods and services for February. Expectations are for a $54 billion deficit, after a $51.1 billion shortfall in January.
The Census Bureau releases its Wholesale Inventories Report for February. Inventories are seen declining 0.2% after a 1.2% jump in January.
hold conference calls on quarterly results.
Pinterest, the online image-search company, is slated to begin trading on the New York Stock Exchange under the ticker PINS. It is expected to go public at $15 to $17 per share.
host their annual meeting of stockholders in Louisville, Ky., and Pittsburgh, respectively.
The Census Bureau reports retail sales data for March. The consensus estimate is that consumer spending rose 0.8%, after unexpectedly falling 0.2% in February. Excluding automobiles and gas, retail sales are seen rising 0.7% after declining 0.6% in February.
The Conference Board releases its Leading Economic Index for March. Expectations are for a 0.4% rise, after a 0.2% gain in February.
IHS Markit releases its U.S. Composite Purchasing Managers’ Index for April. Economists forecast a 55 reading, in line with March’s.
Markets throughout the world, including in Germany, the U.K., and U.S., are closed for Good Friday.
The Census Bureau reports new residential construction data for March. Expectations are for a seasonally adjusted annual rate of 1.30 million building permits, roughly even with February’s figure. Housing starts are seen coming in at 1.25 million, higher than February’s 1.16 million rate.