Tesla, Netflix and housing data dominate week ahead

The major banks will wrap up earnings in the coming week as investors keep an eye on quarterly reports from Tesla and Netflix amid a string of housing and mortgage data.

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Meanwhile, Wall Street bulls are in control as stocks continue to rise, with the Dow Jones Industrial, S&P 500 and Nasdaq Composite all scoring another weekly win. 

Ticker	Security	Last	Change	Change %
I:DJI	DOW JONES AVERAGES	34509.03	+113.89	+0.33%
SP500	S&P 500	4505.42	-4.62	-0.10%
I:DJI	DOW JONES AVERAGES	34509.03	+113.89	+0.33%

The Nasdaq’s 3.3% gain was the best in about four months. 

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Monday, July 17

Wall Street has new IPO

Apogee Therapy will launch its Initial Public Offering (IPO) of 17,650,000 shares of common stock at a price of $17.00 per share.

Also on Monday, Home Bancorp and FB Financial will kick off another week of earnings from regional and global financial institutions.

Ticker	Security	Last	Change	Change %
HBCP	HOME BANCORP INC	34.45	-0.35	-1.01%
BK	THE BANK OF NEW YORK MELLON CORP.	42.53	-3.02	-6.64%

Tuesday, July 18

Bank earnings 

Bank of America, Morgan Stanley, Charles Schwab, PNC Financial and PacWest are all slated to report on Tuesday, with economic data also scheduled for release on manufacturing, retail sales and business inventories.

Meanwhile, retail sales, a measure of how much consumers spent on a number of everyday goods, including cars, food and gasoline, are expected to show an increase after rising 0.3% in May, which is slightly above the 0.1% increase projected by Refinitiv economists, although it is below the 0.4% gain recorded in April.

Wednesday, July 19

Tech earnings, housing data

Tesla, Netflix and housing reports will lead Wall Street on Wednesday, as Tesla shareholders hope for another strong quarter in revenues after the company beat a delivery record in early June. 

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Meanwhile, Netflix is also expected to show a revenue increase after cracking down on password sharing over the spring.

The streaming platform added more new subscriptions between May 25 and May 28 than in any other four-day period since Antenna began compiling the information in 2019. Over that period, average daily signups peaked at 73,000, and from May 26 to May 27, Netflix saw 100,000 new daily sign-ups.

Credit Suisse among several firms that upgraded the share price target, forecasting the stock can rise another 12% from current levels to $371, benefiting the Hollywood strike. 

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Also on Wednesday, economic reports on housing starts, a measure of future demand, will be released.

Thursday, July 20

Initial jobless claims

Jobless claims and existing home sales will lead Thursday’s economic data. Last month, those filing for unemployment jumped to their highest level since 2021.

Meanwhile, Wall Street traders will watch out for earnings from American Airlines and Alaskan Airlines, and the Conference Board will release the latest Leading Economic Inidcators, which is closely watched by the  Federal Reserve ahead of its end of the month meeting. 

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Friday, July 21

Dow stock takes center stage 

Blue-chip stock American Express will lead Friday’s list of earnings revealing the latest on credit card borrowing which is on the rise rebounding from the pandemic, according to banks including Citigroup and Bank of America. 

And the Barbie movie will officially hit the theaters based on Mattel’s iconic doll. 

Ticker	Security	Last	Change	Change %
MAT	MATTEL INC.	21.44	-0.38	-1.74%

The film stars Margot Robbie as Barbie, and Ryan Gosling, as her boyfriend Ken. 

There are no major economic reports scheduled in the U.S. on Friday.

FOX Business reporter Megan Henney contributed to this report.

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