Q2 Results Dominate the Week Ahead
Up to 25 percent of the Standard & Poor’s 500 index companies will be reporting this week, including twelve Dow components. Companies that are considered to be market movers, and therefore of particular interest to investors, include Microsoft, IBM, AT&T, Apple, Wells Fargo, American Express and Coca-Cola. The Ford Motor company will also be reporting results this week, as will shipping giant United Parcel Service (UPS).
Investors will also be interested in the June housing starts and building permits to be released by authorities on Tuesday, with June’s existing home sales index compiled by the National Association of Realtors hitting Wall Street on Thursday. The much-publicized Dodd-Frank Wall Street Reform and Consumer Protection Act, generally referred to simply as the Wall Street Reform Bill, was approved by the Senate last week and will be signed into law by US President Barack Obama most likely on Wednesday, but certainly before the week is over. One of the aims of the Wall Street Reform Bill is to ensure that financial firms are more closely regulated, and that steps can be taken to avoid the need for the drastic rescue measures seen in the past eighteen months of so. While the bill has been met with both cynicism and optimism, it is generally agreed that the American consumer will be afforded a meaningful measure of debt protection which is likely to benefit individuals as well as the US economy into the future.