Tuesday 4/23

Four of the so-called Magnificent Seven release earnings. Tesla, which recently announced layoffs of at least 10% of its workforce, reports results on Tuesday. Shares are down 41% this year, the second-worst performer in the S&P 500 index, as demand for EVs has slowed markedly. Meta Platforms releases earnings on Wednesday, followed by Alphabet and Microsoft on Thursday.

Thursday 4/25

The Bureau of Economic Analysis releases its advance estimate of first-quarter gross-domestic-product growth. Consensus estimate is for real GDP to have grown at a seasonally adjusted annual rate of 2.2%, after an increase of 3.4% in the fourth quarter.

Friday 4/26

The BEA releases the personal consumption expenditures price index for March. Economists forecast a 2.6% year-over-year increase, one-tenth of a percentage point more than in February. The core PCE, which excludes volatile food and energy prices, is expected to rise 2.7%, compared with 2.8% previously. Stubbornly hotter-than-expected inflation readings this year have pushed bond yields to their highest levels in five months and finally dented the equity market, with the S&P 500 down 5.5% in April, which would be its first losing month since October.

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(END) Dow Jones Newswires

04-19-24 2145ET