Markets are now preparing for a big week on the New York Stock Exchange, including many earnings reports from blockbuster companies such as Tesla(TSLA, Financial), Boeing (BA, Financial), and Verizon (VZ, Financial). Among these corporate reports, a set of economic signals will also fight for the attention of the market, focusing on one week for economic guidance to set market directions.
The coming week will also bring reports on very important companies such as General Motors (GM, Financial) and Honeywell(HON, Financial, as well as other economic reports that may shed more light on the US economy. On the calendar, there is Flash PMI for manufacturing and services, durable goods orders, and housing market information. In addition, emphasis will be placed on the Federal Reserve's Beige Book, which provides a regional assessment of business conditions.
More importantly, the weekly economic calendar persists, with existing home sales, for which the actual data was 4.90 million against the expected 4.97 million. New home sales reports were expected midweek, with a decisive consumer sentiment index and more durable goods data for the week.
Market participants will be able to process this information throughout the day, in addition to comments from several Federal Reserve individuals on their current perspective on the economy.
Speaking of markets last week, US stocks rose to new heights as yields on the S&P 500, Nasdaq, and Dow Jones improved. This bullish momentum is an indication of the enormous risk during the following week as investors look at strong market levels against economic and corporate earnings periods. The mix of earnings predictions and economic figures will be instrumental in identifying if stock prices can continue to float at present values or are headed for correction pressures based on emerging economic facts.
