The Week Ahead: Markets Brace for Powell and Earnings Barrage This Week

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Published: Jul 20, 2025, 10:47 GMT+00:00

Key Points:

Powell’s Tuesday speech and tariff deadline set the tone for markets this week amid a flood of earnings reports.
Alphabet, Tesla, Intel, and GM headline a high-stakes week for Q2 earnings with sector sentiment on the line.
PMI data, durable goods, and jobless claims offer a fresh read on U.S. growth as economic strength holds up.

Nasdaq 100 Index, S&P 500 Index, Dow Jones

Market Overview

The S&P 500 rose 0.6% last week to close at 6,296.79, hitting a new all-time high. The Nasdaq gained 1.5% to 20,895.66, while the Dow slipped 0.1% to 44,342.20.

Year-to-date, the S&P is up 7.8%, the Nasdaq 8.6%, and the Dow 5.2%. Markets remain supported by resilient economic data—June CPI, PPI, and retail sales all beat or matched expectations.

Second-quarter earnings season is underway with a high beat rate so far, led by financials.

Focus now turns to tariff risk ahead of the August 1 deadline and a crowded earnings slate, with Powell scheduled to speak Tuesday.

Key Events by Day

Monday (7/21):
• Before the Open:
– Cleveland-Cliffs (CLF) – Est. -0.71
– Domino’s Pizza (DPZ) – Est. 3.94
– Roper Technologies (ROP) – Est. 4.83
– Verizon (VZ) – Est. 1.19

14:00 GMT – CB Leading Index m/m (Prior: -0.2%; Cons: -0.1%)

After the Close:
– Agilysys (AGYS) – Est. 0.36
– Alexandria Real Estate (ARE) – Est. 2.29
– BOK Financial (BOKF) – Est. 1.99
– Calix Networks (CALX) – Est. 0.21
– Crown Holdings (CCK) – Est. 1.88
– Equity LifeStyle Properties (ELS) – Est. 0.69
– Medpace (MEDP) – Est. 2.98
– NXP Semiconductors (NXPI) – Est. 2.68
– RLI Corp. (RLI) – Est. 0.79
– Steel Dynamics (STLD) – Est. 2.26
– W.R. Berkley (WRB) – Est. 1.03
– Wintrust Financial (WTFC) – Est. 2.60
– Zions Bancorp (ZION) – Est. 1.31

Tuesday (7/22):
• Before the Open:
– Coca-Cola (KO) – Est. 0.84 EPS on $12.6B revenue
– General Motors (GM) – Est. 2.35
– Lockheed Martin (LMT) – Est. 6.52
– RTX (RTX) – Est. 1.44
– Philip Morris (PM) – Est. 1.86
– Sherwin-Williams (SHW) – Est. 3.80
– IQVIA (IQV) – Est. 2.77
– D.R. Horton (DHI) – Est. 2.89
– MSCI (MSCI) – Est. 4.14
– Halliburton (HAL) – Est. 0.56
– KeyCorp (KEY) – Est. 0.35

12:30 GMT – Fed Chair Powell Speaks
• 14:00 GMT – Richmond Fed Manufacturing Index (Prior: -3; Cons: -7)
• 20:30 GMT – API Weekly Crude Oil Stock
After the Close:
– Texas Instruments (TXN) – Est. 1.35
– IBM (IBM) – Est. 2.65
– Enphase Energy (ENPH) – Est. 0.64
– Intuitive Surgical (ISRG) – Est. 1.93
– Capital One Financial (COF) – Est. 4.03
– EQT Corp (EQT) – Est. 0.43
– Chubb (CB) – Est. 5.96
– CoStar Group (CSGP) – Est. 0.14
– Manhattan Associates (MANH) – Est. 1.13

Wednesday (7/23):
• Before the Open:
– AT&T (T) – Est. 0.53
– Amphenol (APH) – Est. 0.66
– Moody’s (MCO) – Est. 3.38
– Freeport-McMoRan (FCX) – Est. 0.45
– Lennox (LII) – Est. 6.86
– NextEra Energy (NEE) – Est. 0.98
– General Dynamics (GD) – Est. 3.55
– CME Group (CME) – Est. 2.91

14:00 GMT – Existing Home Sales (Prior: 4.01M; Cons: 4.03M)
• 14:30 GMT – EIA Crude Oil Inventories (Prior: -3.9M)
After the Close:
– Alphabet (GOOGL) – Est. 2.17 EPS on $93.7B revenue
– Tesla (TSLA) – Est. 0.44 EPS on $22.7B revenue
– CSX (CSX) – Est. 0.42
– Las Vegas Sands (LVS) – Est. 0.53
– ServiceNow (NOW) – Est. 3.57
– O’Reilly Automotive (ORLY) – Est. 0.78
– United Rentals (URI) – Est. 10.50

Thursday (7/24):
• Before the Open:
– Comcast (CMCSA) – Est. 1.16
– Blackstone (BX) – Est. 1.09
– Honeywell (HON) – Est. 2.66
– Union Pacific (UNP) – Est. 2.90
– Tractor Supply (TSCO) – Est. 0.80
– Textron (TXT) – Est. 1.45
– Pool Corp (POOL) – Est. 5.14

12:30 GMT – Initial Jobless Claims (Prior: 229K; Cons: 221K)
• 13:45 GMT – Flash Manufacturing PMI (Prior: 52.7; Cons: 52.9)
• 13:45 GMT – Flash Services PMI (Prior: 53.0; Cons: 52.9)
• 14:00 GMT – New Home Sales (Prior: 651K; Cons: 623K)
• 14:30 GMT – Natural Gas Storage (Prior: +46B)
After the Close:
– Intel (INTC) – Est. 0.01
– Digital Realty Trust (DLR) – Est. 1.76
– Edwards Lifesciences (EW) – Est. 0.62
– Deckers Outdoor (DECK) – Est. 0.68
– Newmont (NEM) – Est. 1.14

Friday (7/25):
• Before the Open:
– Charter Communications (CHTR) – Est. 9.58
– Aon (AON) – Est. 3.40
– AutoNation (AN) – Est. 4.69
– Phillips 66 (PSX) – Est. 1.67
– HCA Healthcare (HCA) – Est. 6.27
– Booz Allen Hamilton (BAH) – Est. 1.46

12:30 GMT – Core Durable Goods Orders m/m (Prior: 0.0%; Cons: 0.5%)
• 12:30 GMT – Durable Goods Orders m/m (Prior: -10.3%; Cons: 16.4%)

Central Bank Activity

Tuesday 12:30 GMT – Fed Chair Powell speaks; expected to stress the Fed’s wait-and-see posture despite improving inflation.

Technical Outlook

Weekly S&P 500 Index (SPX)

S&P 500 closed at 6,296.79 (+0.6%), with support at 5,943.23 and 52-week SMA at 5,812.19.

Weekly Nasdaq Composite Index (IXIC)

Nasdaq finished at 20,895.66 (+1.5%), with support at 19,334.98 and 52-week SMA at 18,619.39.

Weekly Dow Jones Industrial Average Index

Dow ended at 44,342.20 (-0.1%), with support at 41,981.14 and 52-week SMA at 42,412.56.

All three indexes remain in bullish structure above their 52-week SMAs.

Outlook

A dense earnings calendar and Powell’s commentary dominate the week. With major tech names like Alphabet, Tesla, and Intel reporting alongside cyclicals such as GM, Honeywell, and Union Pacific, earnings sentiment will guide sector positioning.

Economic data is expected to show continued strength, with Flash PMIs, durable goods, and jobless claims offering updates on manufacturing and labor trends. Tariff policy remains a risk as the August 1 deadline approaches.

Traders will be watching for any signs of margin pressure, consumer cooling, or updated Fed language.

More Information in our Economic Calendar.

About the Author

James Hyerczykauthor

James Hyerczyk is a U.S. based seasoned technical analyst and educator with over 40 years of experience in market analysis and trading, specializing in chart patterns and price movement. He is the author of two books on technical analysis and has a background in both futures and stock markets.

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