This week, Goldman Sachs, American Express, Morgan Stanley, Netflix, and United Airlines will release financial reports. The speeches of Federal Reserve officials and regional economic data will also be the focus of this week. In addition, investors will focus on the cryptocurrency market as the expected halving of Bitcoin is expected to occur on Saturday or earlier, and the reduced money supply is expected to have an impact on its price.

Bitcoin halving will take place on Saturday

Cryptocurrency investors will expect Bitcoin to halve, which is a cyclical event that may affect the maximum cryptocurrency price fluctuations in market capital. The exact time for Bitcoin to be halved is uncertain, but experts believe it may occur on Saturday or earlier.

In the past, Bitcoin reached a new high after its halving event, but it is currently unclear whether the increased scarcity of cryptocurrencies will have the same impact this time. Halving Bitcoin is part of its underlying technology, and the proportion of rewards given to Bitcoin miners is regularly halved, thereby reducing the issuance rate of new Bitcoins.

As the halving of Bitcoin approaches, cryptocurrency prices have risen, approaching a historic high set in March.

However, despite the past halving that has pushed up cryptocurrency prices, experts say that market conditions surrounding this event have changed. For example, the newly launched spot Bitcoin exchange traded fund this year has changed market dynamics and the number of tradable Bitcoins has decreased.

Multiple financial reports will be released this week

Last Friday, after large banks first released their first quarter financial reports, more financial institutions will follow suit, and this week's financial report schedule will also focus on healthcare and technology companies.

Goldman Sachs will be the first to release its financial report on Monday, after announcing strong growth in its asset and wealth management business in the fourth quarter.

On Tuesday, Morgan Stanley's financial report will be presented, following reports that the bank's wealth management department is under investigation by regulatory authorities.

On Wednesday, Discover Financial Services will announce its financial results after being acquired by Capital One in February. On the last financial reporting day before the weekend, American Express will report on its profitability. Last quarter, the company released strong annual performance guidance and increased dividends.

In terms of healthcare, United Health Group will release its financial report on Tuesday, following reports that the company is undergoing an antitrust investigation. On the same day, Johnson&Johnson will also announce its financial performance. Abbott Laboratories will release its financial report on Wednesday.

Other noteworthy financial reports this week include Netflix's financial report on Thursday, which the company hopes to maintain the momentum of subscription user growth. On Friday, consumer goods giant Procter&Gamble will release its financial report, which will demonstrate whether price increases continue to drive revenue growth.

Remarks by Federal Reserve Officials and Economic Indicators

Investors will listen to the speeches of several Federal Reserve officials this week, as they continue to respond to changing economic data.

Three presidents of the Federal Reserve Bank, including Mary C. Daly, President of the Federal Reserve Bank of San Francisco, John C. Williams, President of the Federal Reserve Bank of New York, and Raphael Bostic, President of the Federal Reserve Bank of Atlanta, are all scheduled to deliver speeches this week.

Although the Federal Reserve expects three interest rate cuts in 2024, strong employment reports and higher than expected inflation data have prompted some officials to question whether the Fed can achieve this forecast. Last week, several Federal Reserve officials stated that recent inflation data has prompted them to reconsider their interest rate reduction plans, believing that they need to see more data showing a slowdown in price increases in order to further reduce interest rates.

Investors will also receive the latest news on regional business conditions this week. The Federal Reserve Bank of New York and Philadelphia will release business survey reports for their regions, and the Federal Reserve Brown Book will reveal summaries of the economic conditions of all 12 Federal Reserve districts.

Monday, April 15

• New York Fed's Empire State Manufacturing Survey Data (April)
• US Retail Sales Data (March)
• Commercial Inventory Data (Feb)
• Home Builder Confidence Data (April)
• Dallas Fed President Lorie Logan and San Francisco Fed President Mary C.Daly will speak
• Goldman Sachs, M&T to report earnings

Tuesday, April 16

• Housing Starts Data (March)
• Building Permits Data (March)
• Industrial Production Data (March)
• Capacity Utilization (March)
• United Health Group, Johnson & Johnson, Bank of America, Morgan Stanley, Bank of New York Mellon and PNC Bank to report earnings

Wednesday, April 17

• Mortgage Application Data (Week Ended April 12)
• Federal Reserve Beige Book
• United Airlines, Abbott Laboratories, United Bank of America, Travelers Insurance, Citizens Financial, First Horizon and Discover Financial Services will report earnings

Thursday, April 18

• Initial Claims for Unemployment Benefits (week ending April 13)
• Philadelphia Fed Manufacturing Survey (April)
• Existing Home Sales Data (March)
• Leading U.S. Economic Indicators (March)
• New York Fed President John C.Williams and Atlanta Fed President Raphael Bostic will speak
• Netflix will report earnings.

Friday, April 19

• Chicago Fed President Austan Goolsbee to speak
• Procter & Gamble, American Express and Huntington Bank to report earnings