PANews said next week is unlikely to bring any U.S. data releases strong enough to materially sway the Federal Reserve’s rate-setting meeting, leaving markets to focus on a busier earnings calendar and key events in Europe. After a week in which gold, the U.S. dollar, crude oil and U.S. equities drew the most attention, dozens of companies are set to report second-quarter results. On Wednesday after the U.S. market close, Alphabet, Tesla, AT&T, IBM and Texas Instruments are scheduled to release earnings, followed by Intel on Thursday after the bell. The calendar also includes the U.S. Conference Board Leading Economic Index for June on Monday at 22:00, and the ADP employment change for the week through July 4 on Tuesday at 20:15. In Europe, the European Central Bank will announce its interest rate decision on Thursday at 20:15, and ECB President Christine Lagarde will hold a monetary policy press conference at 20:45. PANews also cited analysis saying some investors in artificial intelligence have started preparing for a slowdown in the nearly trillion-dollar spending boom, with some active fund managers already trimming exposure.
PANews reported on July 19 that after a week of divergent trading, gold, the U.S. dollar, crude oil and U.S. stocks were the main market focus. Looking ahead to next week, there are no major U.S. data releases expected to materially influence the upcoming rate-setting meeting, while earnings season is set to pick up pace, with dozens of companies due to report second-quarter results.
Key events on next week’s calendar
- Monday 22:00: U.S. June Conference Board Leading Economic Index month-over-month;
- Tuesday 20:15: U.S. ADP employment change for the week through July 4;
- Wednesday after the U.S. stock market close: Alphabet, Tesla, AT&T, IBM and Texas Instruments are scheduled to report earnings;
- Thursday after the U.S. stock market close: Intel is scheduled to report earnings;
- Thursday 20:15: European Central Bank interest rate decision;
- Thursday 20:45: ECB President Christine Lagarde holds a monetary policy press conference.
What the cited analysis said about AI spending
The analysis said some investors in artificial intelligence have already begun preparing for a slowdown in the nearly $1 trillion spending boom, and some active fund managers have reduced their investment size. If clear signs emerge of weakening prospects and/or a slower pace of AI investment, the resulting persistent tension would support the current bearish momentum.
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