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July is heating up and cooling down at the same time – and it’s not just the extraordinary weather.
Red-hot, Big Tech mega caps that have driven Wall St stocks to their highest in more than year start to clock second-quarter updates later on Wednesday, while world markets were buoyed again as Britain finally starts to join the disinflation club.
Tesla (NASDAQ:TSLA) and Netflix (NASDAQ:NFLX) – both part of New York’s 10-stock FANG+TM index of leading tech and digital giants that has almost doubled so far this year – will report after the bell on Wednesday. IBM (NYSE:IBM) also releases earnings.
Forecast-beating banks get an update from Goldman Sachs (NYSE:GS) after investment banking rival Morgan Stanley (NYSE:MS) updates in the light of a forecast-beating UK inflation
Events to watch for later on Wednesday:
* U.S. corporate earnings: Tesla, Goldman Sachs, Netflix, IBM, Kinder Morgan (NYSE:KMI), United Airlines, Halliburton (NYSE:HAL), M&T Bank (NYSE:MTB), Northern Trust (NASDAQ:NTRS), Zions Bancorp, US Bancorp (NYSE:USB), Citizens Financial (NYSE:CFG), Nasdaq, Equifax (NYSE:EFX), Discover Financial, Crown Castle (NYSE:CCI), Steel Dynamics (NASDAQ:STLD), Baker Hughes, Elevance Health
* U.S. June housing starts and permits
* U.S. Treasury auctions 20-year bonds
(By Mike Dolan, Editing by Bernadette Baum; mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD)
