The First Slice for Monday, January 23, 2023

This week is set to be one of the busiest earnings seasons we have seen in a long time, with some of the world’s largest companies reporting their quarterly results. Microsoft, Johnson & Johnson, Tesla, AT&T, Verizon, Boeing, IBM, Visa and Mastercard will all be releasing their earnings. On Tuesday, S&P Global will release its Composite PMI for January, giving investors a snapshot of business activity across the US. Thursday will see the Bureau of Economic Analysis (BEA) release the advance estimate for fourth-quarter gross domestic product (GDP), followed by their Personal Consumption Expenditures (PCE) Price Index for December on Friday. We will also be given the latest updates on the housing market, with new and pending home sales for December.

The earnings season is a key indicator of the state of the US economy, with investors keenly watching the results from these companies to get a sense of how their respective sectors are performing. Strong earnings reports could be a sign of a healthy economy, while weak results could provide a warning sign of an impending recession. It is therefore essential to keep an eye on the upcoming reports to gauge the direction of the economy.

The data from the BEA and S&P Global will also be closely watched. The Composite PMI is a composite index that measures the performance of the manufacturing and services sectors, while the advance GDP report – which is typically released a month after the end of a quarter – will give an indication of the overall growth of the US economy. The PCE Price Index, meanwhile, is a measure of changes in consumer prices, and can provide insight into consumer spending and inflation.

The housing market figures are also important, as they can be indicative of consumer sentiment. If the new and pending home sales figures show healthy growth, this could point to an increase in consumer confidence and the overall economic health of the US.

Overall, investors should be paying close attention to the earnings season, as well as the other economic data that will be released this week. These figures will provide a snapshot of the US economy and give investors an insight into how the markets are performing.

Events Calendar:

Monday, January 23

  • Baker Hughes Company (BKR), Brown & Brown Inc. (BRO), Synchrony Financial (SYF), Logitech International (LOGI), Zions Bancorp (ZION), Crane Holdings Company (CR), and F.N.B. Corporation (FNB) report earnings
  • Conference Board Leading Index (Dec)

Tuesday, January 24

  • Microsoft (MSFT), Johnson & Johnson (JNJ), Danaher Corp. (DHR), Verizon Communications (VZ), Texas Instruments (TXN), Raytheon (RTX), Lockheed Martin (LMT), Union Pacific Corp. (UNP), General Electric (GE), Intuitive Surgical (ISRG), Canadian National Railway (CNI), 3M Company (MMM), The Travelers Companies (TRV), Capital One Financial (COF), Halliburton (HAL), and D.R. Horton (DHI) report earnings
  • S&P Global Composite PMI (Jan)
  • Richmond Fed Manufacturing Index (Jan)

Wednesday, January 25

  • Tesla (TSLA), Abbott Laboratories (ABT), NextEra Energy (NEE), AT&T (T), IBM (IBM), Boeing (BA), Elevance Health (ELV), Automatic Data Processing (ADP), ServiceNow Inc. (NOW), Progressive Corp. (PGR), U.S. Bancorp (USB), CSX Corp. (CSX), General Dynamics (GD), Freeport McMoran (FCX), Crown Castle Inc. (CCI), Norfolk Southern Corp. (NSC), Hess Corporation (HES), Kimberly-Clark (KMB), Las Vegas Sands (LVS), and Nasdaq Inc. (NDAQ) report earnings

Thursday, January 26

  • Visa (V), Mastercard (MA), Comcast Corporation (CMCSA), Intel (INTC), Marsh & McLennan Companies (MMC), Northrop Grumman Corp. (NOC), Scherwin-Williams Co. (SHW), Blackstone Inc. (BX), Valero Energy (VLO), Archer-Daniels-Midland Company (ADM), Dow Inc. (DOW), Xcel Energy (XEL), Nokia (NOK), Deutsche Bank (DB), T. Rowe Price Group (TROW), Tractor Supply Co. (TSCO), Southwest Airlines (LUV), Robert Half International (RHI), and U.S. Steel Corp. (X) report earnings
  • U.S. GDP Growth Rate – Advance Estimative (Q4 2022)
  • Durable Goods Orders (Dec)
  • Retail Inventories (Dec)
  • Wholesale Inventories (Dec)
  • Quarterly PCE Prices (Q4 2022)
  • Kansas Fed Composite Index (Jan)
  • New Home Sales (Dec)

Friday, January 27

  • Chevron (CVX), American Express (AXP), Charter Communications (CHTR), HCA Healthcare Inc. (HCA), Colgate-Palmolive (CL), Roper Technologies (ROP), Gentex Corporation (GNTX), and WisdomTree Inc. (WT) report earnings
  • Personal Income and Spending (Dec)
  • Personal Consumption Expenditures (PCE) Price Index (Dec)
  • Michigan Consumer Sentiment Index – Final Reading (Jan)
  • Pending Home Sales (Dec)

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