Several large technology and telecommunications companies will release their earnings reports for the first quarter of 2024 this week. 

Electric vehicle manufacturer Tesla will attract a large number of investors in its report on Tuesday. Later this week, Meta, Microsoft, Google, Intel, and other leading companies will also release their earnings reports. Reports from Boeing, Albertsons, ExxonMobil, and Chevron are also worth investors' attention.

In addition, the market will closely monitor the Personal Consumption Expenditure (PCE) price index released on Friday, which is the last inflation reference data before the next Federal Reserve meeting and may have an impact on interest rate discussions.

Multiple earnings reports will be released this week

Earnings will grab investors' attention throughout the week, with many major tech, telecom and healthcare companies due to release earnings reports, while some struggling companies will also release reports.

Last week, Tesla's stock fell as it announced it would cut 10% of its workforce, and this Tuesday's first quarter report is likely to be one of the most closely watched reports of the week.

Investors will also be eyeing earnings reports from major tech companies starting Wednesday, starting with Meta, the Facebook parent company that received an analyst upgrade because of the potential for AI to drive its advertising growth.

Thursday's focus will be on three big tech companies.Microsoft's earnings report will reveal whether it can continue to maintain the momentum of AI and its cloud division.Google's parent company Alphabet's earnings come as its market capitalization approaches $2 trillion.Investors will also be watching for reports from Intel, the chipmaker that recently disclosed that operating losses at its foundry unit are widening.

Several major telecom providers will report financial results this week, including AT & T on Wednesday and T-Mobile on Thursday.Oil giants Exxon Mobil and Chevron to report Friday.

Other companies to watch include Albertsons, which will release earnings reports on Monday, and the supermarket chain, which is battling the Federal Trade Commission (FTC) over its proposed merger with Kroger.

And Wednesday's earnings report from Boeing will provide details of sales and deliveries for the aircraft maker, which is facing concerns about its safety and production issues.

PCE value attracts market attention

Key US inflation data will be released on Friday, which could set the tone for the upcoming Federal Open Market Committee (FOMC) meeting, which will discuss the path of interest rates.

The personal consumption expenditure (PCE) index for March will be the last inflation figure Federal Reserve officials will get before their April 30-May 1 meeting, which could become a key point of discussion at the meeting.PCE is the Fed's favorite measure of inflation.

After a sharp decline in inflation rate in 2023, it remained mostly stable in 2024, and Federal Reserve officials referred to the recent inflation report as "volatility." Last month's PCE report showed that the inflation rate rose to 2.5% in February.

The University of Michigan Consumer Confidence Index released on Friday may also draw the attention of Federal Reserve officials, especially consumer expectations of inflation, which may play an important role in the price path.

Although the Federal Reserve is not expected to change the current interest rates of 5.25% to 5.5% at the upcoming FOMC meeting, these data may prompt officials to change their predictions for future interest rates. Federal Reserve officials will enter a period of silence before the meeting at the end of this month, and they will be prohibited from making public comments.

Monday, April 22

• SAP, Cadence, Truist Finance and Albertsons to report earnings。

Tuesday, April 23

• S&P U.S. Services PMI (April)
• S&P U.S. Manufacturing PMI (April)
• New Home Sales Data (March)
• Tesla, Visa, Pepsi, GE Aerospace, United Parcel Service and Lockheed Martin to Announce Earnings

Wednesday, April 24

• Durable Goods Order Values (March)
• Meta, AT&T, IBM, Thermo Fisher Scientific, ServiceNow and Boeing to Announce Earnings

Thursday, April 25

• Initial jobless claims (week ending April 20)
• U.S. Gross Domestic Product (Q1)
• US Trade Balance (March)
• Retail Inventory (March)
• Wholesale Inventory (March)
• Home Sales Estimate (March)
• Microsoft, Alphabet, Intel and T-Mobile to report earnings

Friday, April 26

• Personal Consumption Expenditure (PCE) (March)
• University of Michigan Consumer Confidence Index (April)
• ExxonMobil, Chevron to release earnings