After a few relatively slow weeks of corporate news, things are about to ramp up. Second quarter earnings season is set to kick off in the week ahead, with the big banks starting to report. Within the Investing Club portfolio, we’ll hear from BlackRock and Wells Fargo before Tuesday’s opening bell; Goldman Sachs before Wednesday’s open; and Abbott Laboratories before Thursday’s open. We’ll get the latest on the economy along the way, after last week’s market action was dominated by tariff news. 1. BlackRock : In addition to hearing about fund flow dynamics, which we would expect to be positive given the incredible market rally we saw in the second quarter, and the company’s management fee, our attention will be on the ongoing integration of Preqin and Global Infrastructure Partners. Management’s thoughts on the HPS Investment Partners acquisition will also be of interest, though not reflected in the results, given it was finalized earlier this month, after the close of the second quarter. In addition to these acquisitions, the firm earlier this month announced plans to acquire real estate investment firm ElmTree Funds, which, upon completion, will be integrated into BlackRock’s new Private Financing Solutions group, alongside HPS Investment Partners. At a higher level, management’s views on the state of the economy, geopolitics, and public and private market dynamics will help form our outlook on the market and economy overall. The Street is looking for BlackRock earnings of $10.78 per share, on revenue of $5.46 billion, according to LSEG. 2. Wells Fargo : At a high level, bank earnings are always helpful in better understanding the state of the economy broadly, given their deep interaction with both consumers and businesses. Specific to Wells Fargo, we’re interested to hear updates from management regarding the firm’s outlook now that the Federal Reserve asset cap has been lifted , which, in addition to industry deregulation, frees the bank to lend more. This, along with higher for longer interest rates, may well provide the setup for a better net interest income outlook from management and a higher long-term target for the firm’s return on tangible common equity (ROTCE). A lower capital requirement (minimum CET1 ratio) will also have investors focused on the firm’s capital allocation plans , buybacks and dividends. The Street is looking for Wells Fargo earnings of $1.41 per share, on revenue of $20.768 billion, according to LSEG. 3. Goldman Sachs : It’s all about investment banking when it comes to Goldman Sachs. Given the recent uptick in the IPO market and M & A (mergers and acquisitions) activity, we will be interested to see how Goldman Sachs is benefiting. Management’s commentary on how the second half of the year is shaping up will also be of interest. An expectation for a rebound in dealmaking is why we originally swapped out our position in Morgan Stanley in favor of Goldman Sachs. Additionally, we’ll be interested to hear about any updates on management’s outlook following strong results from the Fed’s annual stress test, which saw the investment bank’s minimum capital requirement reduced. The Street is looking for Goldman earnings of $9.53 per share, on revenue of $13.397 billion, according to LSEG. 4. Abbott : Momentum in the company’s fast-growing diabetes portfolio, specifically as it relates to sales of the FreeStyle Libre continuous glucose monitors, will be a key focus. This is what drives the Medical Device segment, the largest of Abbott’s four operating units. Also, within medical devices, we’ll be listening for commentary on the rollout of the company’s recently approved (earlier than expected) Volt PFA System, which is used to treat abnormal heart rhythms. In Nutrition, we’re interested to hear about market share, as CEO Robert Ford told investors last quarter that the company is committed to regaining share previously lost due to poor execution. China’s national strategy to control health-care costs was a drag on the company’s Diagnostics unit last quarter, so we’ll be interested to see any improvement there. The Street is looking for Abbott earnings of $1.25 per share, on revenue of $11.068 billion, according to LSEG. 5. The economy : Outside of earnings, the June consumer price index (CPI), out Tuesday, will help us better understand how many times the Fed may look to cut rates in 2025. Within that report, we will be looking closely at shelter costs, which have proven sticky and problematic to say the least, as the Fed looks to thread the needle on bringing inflation down while keeping the unemployment rate low. The June producer price (PPI) index will be out Wednesday. While not as closely scrutinized as the CPI, the PPI can provide insight into corporate input costs, which will eventually impact consumer prices. June retail sales, out Thursday, will provide insight on the state of the consumer, another important watch item. A strong consumer is key to continued economic growth because roughly two-thirds of U.S. gross domestic product (GDP) is attributable to private consumption. Lastly, it’s June housing starts, out Friday. The new construction data will provide more insight into shelter cost inflation. More supply is what’s needed to stabilize prices and, in turn, bring down the overall rate of inflation. Week ahead Monday, July 14 No economic releases of note Before the bell earnings : Fastenal (FAST) Tuesday, July 15 Consumer price index at 8:30 a.m. ET Before the bell : BlackRock (BLK), Wells Fargo (WFC), JPMorgan (JPM), Citigroup (C), State Street (STT), Bank of NY Mellon (BNY), Ericsson (ERIC) After the bell : JB Hunt (JBHT) Wednesday, July 16 Producer price index at 8:30 a.m. ET Industrial production and capacity utilization at 9:15 a.m. ET Before the bell : Goldman Sachs (GS), Morgan Stanley (MS), ASML (ASML), Bank of America (BAC), Johnson & Johnson (JNJ), Progressive (PGR), Prologis (PLD), First Horizon National (FHN) After the bell : United Airlines (UAL), Alcoa (AA), Kinder Morgan (KMI) Thursday, July 17 Initial jobless claims at 8:30 a.m. ET Retail sales at 8:30 a.m. ET Before the bell : Abbott (ABT), Taiwan Semi (TSM), PepsiCo (PEP), Cintas (CTAS), US Bancorp (USB), Webster Financial (WBS), Travelers (TRV), Fifth Third Bancorp (FITB), Citizens Financial (CFG), Elevance Health (ELV), ManpowerGroup (MAN), Marsh & McLennan (MMC) After the bell : Netflix (NFLX), Marten Transport (MRTN), Interactive Brokers (IBKR) Friday, July 18 Housing Starts and Building Permits at 8:30 a.m. ET Before the bell : American Express (AXP), Huntington Bancshares (HBAN), 3M Company (MMM), Regions Financial (RF), SLB (SLB), Truist Financial (TFC), Charles Schwab (SCHW), Ally Financial (ALLY), Autoliv (ALV), Comerica (CMA) (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Here are the 5 things we’re watching in the stock market in the week ahead
