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Investing.com — Stock indexes let off some steam on Monday ahead of a huge week for earnings.
After notching several successful record highs last week, investors paused ahead of profit reports from big tech companies and consumer-oriented names. People will be hanging on the outlooks executives give for the next few months as economies reopen and consumers spend on entertainment like dining out.
On Monday, Harley-Davidson (NYSE:HOG) bounced after it reported strong earnings and a rosy outlook for sales, as Americans hit the road after a year of hunkering down.
There isn’t much in the way of economic data due out Tuesday, though the American Petroleum Institute will publish its weekly oil inventory estimates after the closing bell.
Here are three things that could affect markets tomorrow:
1. Earnings from a key pharma
Johnson & Johnson (NYSE:JNJ), which has had to delay vaccine shipments after questions were raised about blood clotting, is set to report profit on Tuesday. Analysts tracked by Investing.com expect to see earnings per share of $2.33 on revenue of $22 billion.
2. A kick-off to FAANG earnings
Netflix Inc (NASDAQ:NFLX) kicks off FAANG earnings amid a boom in streaming activity by rival Amazon.com Inc (NASDAQ:AMZN) and big media companies like AT&T Inc (NYSE:T)s Warner and Comcast Corp (NASDAQ:CMCSA)’s NBC. Analysts expect EPS of $2.97 on revenue of $7.1 billion.
3. Consumer product maker is on deck
Procter & Gamble Company (NYSE:PG) is on deck, also. Consumer-oriented companies are expected to benefit from a surge in spending, even if it is on household products and not high-end travel. P&G is expected to report EPS of $1.19 and revenue of $18 billion.
