GDP:
According to a recent poll conducted by Refinitiv, the US economy is expected to have grown at an annualized rate of 1.8 percent in the second quarter. Although this represents a slight deceleration compared to the 2 percent pace observed in the first three months of the year.
McDonald’s:
As McDonald’s prepares to announce its latest financial results, investors will closely monitor consumer demand amidst elevated inflation. Analysts predict that the fast-food giant will report a nearly 10 percent revenue increase, reaching $6.3 billion, and earnings of $2.80 per share.
Ford:
In their upcoming investor update, Ford will outline their new vision for the future, focusing on cost-cutting measures and positioning themselves for an increasingly electrified industry. Recent developments show Ford engaged in a price war with Tesla, reflecting the growing popularity of electric vehicles in the US market.
Other Earnings:
Before the opening bell, a range of companies will release their earnings reports. This includes aerospace and defense contractor Northrop Grumman, payments processor Mastercard, pharmaceutical company Bristol-Myers Squib, confectioner Hershey, cruise line Royal Caribbean, industrials group Honeywell, carrier Southwest Airlines, and motorcycle manufacturer Harley-Davidson. Packaged food producer Mondelez will report its results after the market closes.
Other Data:
The upcoming durable goods report is expected to reveal a slight decline in underlying investment spending by businesses in June. Additionally, jobless claims for the week ending July 22 are predicted to have risen slightly to 235,000.
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