The three major U.S. equity indexes closed mixed on Friday. The Dow Jones industrials added 0.2%, while the S&P 500 slipped by 0.16% and the Nasdaq fell by 0.5%. Six of 11 sectors ended the day lower, led by consumer cyclicals (1.7%) and communications services (1.2%). The energy sector rose by 2%, and the financial sector was up 0.7%. All three indexes were higher shortly after Monday’s opening bell.
This week’s big economic news comes first thing on Wednesday and Thursday, when the Bureau of Labor Statistics reports the consumer price index (CPI) and the producer price index (PPI), respectively. Economists currently expect CPI to rise by 0.2% month over month, far below June’s increase of 1.3%. The PPI is forecast to rise by 0.3% in July, much lower than June’s 1.1% rise.
Before markets opened on Monday, Barrick Gold beat estimates on both the top and bottom lines. The stock traded up by about 4.9% in early Monday trading.
Palantir missed both earnings and revenue estimates and issued downside guidance for the third quarter and for the full year. The stock traded down more than 12%.
Tyson Foods beat revenue estimates but missed on earnings. The shares traded down about 9.4%.
Viatris reported adjusted EBITDA of $0.26 per share and sales of $4.1 billion. Both were lower than estimates, but the earnings estimate and actual may not be comparable. The company also issued downside guidance. The stock traded up nearly 8% Monday morning.
After markets close Monday, Upstart and Velodyne Lidar will be reporting quarterly results. Tuesday’s premarket reports include those from GlobalFoundaries and Norwegian Cruise Lines.
After Tuesday’s closing bell, Coinbase, Roblox, Trade Desk and Unity Software are on deck to report quarterly earnings.
Here are previews of two more earnings reports due out after markets close on Tuesday and one due first thing Wednesday morning.
Array Technologies Inc. (NASDAQ: ARRY) makes and sells the hardware and software that allows solar arrays and panels to track the sun. Over the past year, the stock has increased its value by about 42%. That is less than half the stock’s value at its peak back in November but more than 250% above its 52-week low set in mid-May. The company reports quarterly results after markets close Tuesday.
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.