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The fourth quarter earnings season continues this week, with 99
S&P 500
company reports.
NXP Semiconductors
and Otis Worldwide started on Monday, followed by several big names on Tuesday: Alphabet,
Amazon.com,
Alibaba Group Holding,
Chipotle Mexican Grill,
Electronic Arts,
Exxon Mobil,
Pfizer,
and
United Parcel Service
everyone reports.
On Wednesday,
AbbVie,
eBay,
PayPal Holdings,
Qualcomm,
and
Spotify technology
launch results. Thursday’s highlights are
Activision Blizzard,
Bristol Myers Squibb,
Ford Motor,
Merck, Snap and
T-Mobile US.
Finally, Linde,
Regeneron Pharmaceuticals,
and
Sanofi
close the week on Friday.
This week’s economic data will be the Bureau of Labor Statistics’s January job report. The economists’ consensus estimate is 100,000 new non-farm payrolls, after a decline of 140,000 in December. The unemployment rate is expected to remain stable at 6.7%.
Other data this week includes the Institute for Supply Management Manufacturing Purchasing Managers’ Index for January on Monday and its service equivalent on Wednesday. The Census Bureau also released construction spending data for December on Monday and the Bureau of Labor Statistics reports non-farm business productivity and unit labor costs for the fourth quarter on Thursday.
Monday 2/1
NXP Semiconductors, Otis Worldwide,
Thermo Fisher Scientific,
and
Vertex Pharmaceuticals
report quarterly results.
Supply Institute Management releases its January Manufacturing Purchasing Managers’ Index. Economists predict a reading of 60, approximately even with December. A PMI above 50 indicates expansion in the manufacturing sector.
The Census Bureau reports construction spending data for December. The consensus estimate is for a 0.7% month-on-month increase in construction spending to a seasonally adjusted annual rate of $ 1.47 trillion.
Tuesday 2/2
Alphabet, Amazon.com, Alibaba Group Holding,
Amgen,
BP, Chipotle Mexican Grill,
ConocoPhillips,
Chubb, Electronic Arts, Exxon Mobil,
HCA Healthcare,
Pfizer,
Sysco,
and United Parcel Service earnings.
Wednesday 2/3
ADP Releases its January National Employment Report. The consensus estimate is a gain of 100,000 jobs in the private sector, after a drop of 123,000 in December.
AbbVie,
Biogen,
Boston Scientific,
eBay,
GlaxoSmithKline,
Human,
MetLife,
Novo Nordisk,
PayPal Holdings, Qualcomm,
Sony,
and Spotify Technology announce quarterly results.
ISM launches its January Service Purchasing Managers Index. The expectation is a reading of 56.9, a tick below December’s data.
Thursday 2/4
Activision Blizzard, Bristol Myers Squibb,
Cigna,
Chlorox,
Ford Motor,
Gilead Sciences,
Intercontinental Exchange,
Merck,
Old Dominion freight line,
Philip Morris International,
Royal Dutch Shell,
Snap, and
Unilever
report quarterly results.
The Bureau of Labor Statistics report the productivity of non-agricultural businesses and unit labor costs for the fourth quarter. Economists project that productivity fell at a seasonally adjusted annual rate of 4.9%, after rising 4.6% in the third quarter. Unit labor costs are expected to increase 3.4%, after a 6.6% drop.
Friday 2/5
Cardinal Health,
Cboe Global Markets,
Estée Lauder,
Illinois Tool Works,
Linde,
Prudential Financial,
Regeneron Pharmaceuticals, Sanofi, Trane Technologies and
Zimmer Biomet Holdings
hold conference calls to discuss earnings.
BLS releases the January jobs report. The consensus estimate is that non-farm payrolls will increase by 100,000, reversing the decline of 140,000 in December. The unemployment rate is expected to remain unchanged at 6.7%.
The Federal Reserve reports consumer credit data for December. The total outstanding consumer debt is expected to increase by $ 12 billion, to a total of $ 4.18 trillion. This would bring consumer credit open to the same level it started in 2020. The last time the debt fell in a year was in 2009.
Write to Nicholas Jasinski at [email protected]