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Earnings Season Intensifies

Earnings Season Intensifies
Photo by 金 运 / Unsplash

Welcome to This Week’s Market Pulse

The financial markets are gearing up for a busy week, with a slew of major earnings reports, economic data releases, and ongoing tariff-related uncertainties shaping investor sentiment. Here’s a concise look at what’s on the horizon for April 21–25, 2025.

Big Earnings Reports

The first-quarter earnings season accelerates, with 121 S&P 500 companies set to report, making this the second-busiest week of the season. Key players include:

  • Tuesday, April 22: Tesla ($TSLA), Lockheed Martin ($LMT), Verizon ($VZ), 3M ($MMM), Danaher ($DHR), GE Aerospace ($GE), and RTX ($RTX). Tesla’s report, expected after the bell, is a focal point amid a 40% YTD stock decline and concerns over EV demand. Analysts project $0.43 EPS and $21.81B in revenue.
  • Wednesday, April 23: Boeing ($BA), Chipotle ($CMG), GE Vernova ($GEV), and ServiceNow ($NOW). Boeing’s results are under scrutiny after China’s reported halt on jet deliveries, which constitute less than 6% of Boeing’s 2025–2028 deliveries.
  • Thursday, April 24: Alphabet ($GOOGL), Intel ($INTC), PepsiCo ($PEP), Procter & Gamble ($PG), Merck ($MRK), T-Mobile ($TMUS), and Comcast ($CMCSA). Alphabet’s earnings are critical as the “Magnificent Seven” megacaps, down sharply in 2025, face pressure to deliver strong guidance.
  • Friday, April 25: AbbVie ($ABBV) and Bristol Myers Squibb ($BMY) wrap up the week, with investors eyeing healthcare sector resilience.

Forward guidance will be pivotal, as S&P 500 earnings growth projections for 2025 have softened to 9.2% from 14% earlier this year, largely due to tariff concerns.

Economic Data and Fed Speak

  • Monday, April 21: March Leading Indicators at 10 a.m. ET provide a glimpse into economic momentum.
  • Tuesday, April 22: Richmond Fed Index (April) at 10 a.m. and remarks from Philadelphia Fed President Harker on economic mobility.
  • Wednesday, April 23: S&P Global Services/Manufacturing PMI and March New Home Sales data offer insights into sector health.
  • Thursday, April 24: March Durable Goods Orders and Existing Home Sales data round out the week, alongside eight scheduled Fed speaker events, which could signal rate cut timing amid tariff debates.

Other Big News

  • Tariff Turbulence: Markets remain volatile as President Trump’s trade policies, including potential EU trade deals and a US-Ukraine minerals accord, create uncertainty. The Magnificent Seven stocks, particularly Tesla and Alphabet, are down significantly YTD, reflecting broader tech sector woes.
  • Global Context: The IMF Spring Meeting concluded with no consensus on global growth, highlighting risks from U.S. tariffs. Gold ($GOLD) is up 0.39% as a safe-haven asset, while Japan’s Nikkei ($N225) gains 1.03%.
  • Sector Watch: Financials ($XLF) show strength post-earnings from Goldman Sachs ($GS) and Bank of America ($BAC), but consumer discretionary ($XLY) lags.

What to Watch

  • Tesla and Alphabet Earnings: Can these tech giants provide reassuring guidance to steady the market?
  • Boeing’s China Exposure: Will the delivery halt significantly impact its outlook?
  • Fed Commentary: Any hints on monetary policy adjustments amid tariff-driven inflation fears?

Stay sharp, investors. This week’s earnings and economic data could set the tone for markets navigating a complex global landscape.