'Super Week' for the New York Stock Exchange...A Series of Big Tech Earnings, Inflation, and Employment Indicators
Summary
- This week, the New York Stock Exchange is expected to face major volatility due to key events like the FOMC meeting, GDP growth rate, and employment indicators.
- Earnings announcements by US tech giants such as Microsoft (MS), Meta, Amazon, and Apple are scheduled, drawing market attention to the outcomes of their AI investments.
- The conclusion of the tariff exemption, the release of the inflation indicator (PCE Price Index), and remarks from Federal Reserve Chairman Jerome Powell are highlighted as key factors for investors.
FOMC Meeting on the 30th, Tariff Exemption Ends August 1st
Earnings Announcements for 4 Out of the Magnificent 7 This Week
The New York Stock Exchange is expected to see significant volatility this week, with several major events lined up one after another. First, on the 30th, the July Federal Open Market Committee (FOMC) meeting will be held, and a preliminary estimate of the US gross domestic product (GDP) growth rate for the second quarter will also be released.
On the 31st, the June Personal Consumption Expenditures (PCE) Price Index is scheduled to be announced, and on the 1st of next month, the July nonfarm payrolls report will be released. In particular, August 1st marks the end of the tariff exemption period set by US President Donald Trump.
Earnings releases from major tech giants are also key variables. This week, among the so-called 'Magnificent 7 (M7)' megacap US tech stocks, Microsoft (MS), Meta, Amazon, and Apple will announce their second-quarter earnings. Microsoft and Meta are set to report on the 30th, with Apple and Amazon scheduled for the 31st.
The market is focusing on what results these companies have achieved with their investments in artificial intelligence (AI). According to Bloomberg News, the annual AI-related spending by Microsoft, Meta, Amazon, and Alphabet is estimated to surpass $350 billion (about ₩484 trillion).
Inflation indicators are also drawing attention. With the effects of tariffs imposed by the Trump administration beginning to show in last month's Consumer Price Index (CPI), there is interest in whether a similar trend will appear in the PCE Price Index.
The June PCE is projected to rise 2.4% year-over-year, higher than the increase in the previous month (2.3%). The market is also closely watching the remarks to be delivered by Jerome Powell, Chair of the Federal Reserve (Fed), at the press conference right after the FOMC meeting on the 30th.
Reporter: Lim Dayeon allopen@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
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