New York, NY – As we head into the second quarter earnings season, all eyes are on the upcoming financial reports of high-profile companies making waves in the market. Google-parent Alphabet and Elon Musk’s Tesla are expected to steal the spotlight, as investors eagerly await their quarterly figures. This will be a crucial test for the market after observing substantial movement away from the elite “Magnificent 7” group following recent consumer inflation data.

Among the lineup of companies set to release earnings are industry giants like Coca-Cola, General Motors, and Ford. The economic calendar for the upcoming week will be relatively light, with a focus on the latest personal income and outlays report for June. Investors will be paying close attention to the core personal consumption expenditures price index, considered a key measure of inflation by the Federal Reserve.

In addition to the earnings reports, notable upcoming events include the Bitcoin 2024 Conference, featuring an appearance by Republican presidential candidate Donald Trump, as well as the highly anticipated start of the Paris Olympics. The opening ceremony of the iconic sporting event is scheduled for Friday, adding excitement to the week ahead.

The week’s earnings calendar includes a lineup of top companies reporting throughout the week. On Monday, Verizon Communications and NXP Semiconductors will kick off the earnings spotlight. Tuesday’s lineup features Alphabet, Tesla, Visa, Coca-Cola, Texas Instruments, Philip Morris International, United Parcel Service, Lockheed Martin, General Motors, and Comcast. Wednesday will see reports from International Business Machines, AT&T, Chipotle Mexican Grill, General Dynamics, and Ford Motor. Thursday’s highlights include AbbVie, Northrop Grumman, Union Pacific, and AstraZeneca. Finally, Friday will feature reports from Bristol Myers Squibb, Colgate-Palmolive, and Charter Communications.

IPO activity is also on the radar for the week, with several companies expected to price their IPOs and start trading. This includes NIP Group, OneStream, Actuate Therapeutics, Concentra Group, and Lineage. Additionally, companies like mF International, CG Oncology, and BrightSpring Health Services will see their IPO lockup periods expire, potentially impacting trading activity.