New York Stock Market, MS·Meta·Apple... 'M7' Sequential Earnings Releases

Korea Economic Daily

Summary

This week, the New York stock market is expected to show significant volatility based on various economic indicators, including the Federal Open Market Committee (FOMC) meeting, U.S. GDP growth rate, and the release of the PCE Price Index.
Earnings announcements for major mega-cap tech stocks (M7)—Microsoft (MS), Meta, Amazon, and Apple—are scheduled, and the market is focused on these companies’ results in artificial intelligence (AI) investment.
U.S. inflation indicators and President Trump's tariff policy are expected to impact the market, and investors are also paying close attention to the remarks of Fed Chair Jerome Powell.

This week, the New York stock market is expected to see increased volatility depending on various economic indicators. On the 30th, the July Federal Open Market Committee (FOMC) regular meeting will be held, and the advance estimate of the U.S. Gross Domestic Product (GDP) growth rate for the second quarter will also be released. Subsequently, on the 31st, the June Personal Consumption Expenditures (PCE) Price Index will be announced, followed by the July nonfarm payroll indicator on August 1. August 1 is also the deadline for tariff exemptions set by U.S. President Donald Trump.

In addition, earnings reports from major tech corporations are another key factor. This week, among the U.S. mega-cap tech stocks known as 'M7', Microsoft (MS), Meta, Amazon, and Apple are scheduled to announce their Q2 results. MS and Meta are set for the 30th, while Apple and Amazon will report on the 31st. The market is paying close attention to the results of these companies' investments in artificial intelligence (AI). According to Bloomberg News, annual AI-related spending by MS, Meta, Amazon, and Alphabet is estimated to exceed $350 billion (approximately ₩484 trillion).

Investors are also focused on inflation indicators. The impact of the Trump administration’s tariff policies has started to be partially reflected in last month’s Consumer Price Index (CPI), and observers are watching to see if a similar trend will appear in the PCE Price Index. June PCE is estimated to have risen 2.4% year-on-year, a greater increase than the previous month's 2.3%. Additionally, the market is watching statements by Jerome Powell, Chair of the U.S. Federal Reserve (Fed), at the press conference immediately following the FOMC meeting on the 30th.

Reporter: Dayeon Lim allopen@hankyung.com

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