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Goldman Sachs, Netflix reports, Tesla earnings: 3 things to watch

Published Jul 18, 2023 03:56PM ET
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Investing.com -- Stocks drove higher on Tuesday after mostly positive earnings reports from big banks.

As earnings continue to pour out this week from S&P 500 companies, investors will get to hear from executives about business and consumer spending trends. Retail sales numbers for June showed spending still rising but at a lower-than-expected pace.

The Federal Reserve is getting ready to meet later this month with expectations that it will raise interest rates another quarter of a percentage point as it tries to beat inflation back to its 2% target rate. Consumer prices and producer prices for June showed inflation cooling at a faster-than-expected pace, stoking hopes that the Fed would reach the end of its interest rate increases sooner rather than later.

Tech stocks have gotten a lift in recent days on those hopes. Reports from Netflix and Tesla on Wednesday could add momentum to that trend.

Next week, after the Fed announces its rate decision, investors will get reports on gross domestic product for the second quarter and the personal consumption expenditures index for June.

Here are three things that could affect markets tomorrow:

1. Goldman Sachs

The investment bank is likely to be affected by the deal slump on Wall Street. Goldman Sachs Group Inc (NYSE:GS) is expected to report earnings per share of $3.46 on revenue of $10.7 billion.

2. Netflix reports

Streaming giant Netflix Inc (NASDAQ:NFLX) is expected to report earnings per share of $2.84 on revenue of $8.27B.

3. Tesla earnings

Electric vehicle maker Tesla Inc (NASDAQ:TSLA) is expected to report earnings per share of 79 cents on revenue of $24.3B.

Goldman Sachs, Netflix reports, Tesla earnings: 3 things to watch
 

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Comments (3)
Derick Lim
Derick Lim Jul 18, 2023 8:59PM ET
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Both GS and Nflx lowered their earnings forecast .....it will be better worse than last year
Pete palella
Pete palella Jul 18, 2023 7:47PM ET
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Easy beat on all 3
Ge K
Ge K Jul 18, 2023 7:23PM ET
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TSLA TSLA TSLA Go Elon! Hello India!
 
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