This Week: JPMorgan and Microsoft results, housing starts
A look at some of the key business events and economic indicators upcoming this week:
ON A ROLL
JPMorgan Chase serves up its latest quarterly report card Tuesday.
Financial analysts predict the nation's largest bank by assets will report that its earnings and revenue increased in the second quarter versus a year earlier. That would match JPMorgan's results in the first three months of the year, when higher interest rates helped make up for a drop in trading revenue.
ECONOMIC BELLWETHER
Government data on residential construction should provide insight into the state of the new home market.
The Commerce Department is expected to report Wednesday that builders broke ground on new apartments and single family homes in June at the slowest pace since February. U.S. home construction slipped a bit in May as a sharp drop in single family construction was only partially offset by a rise in apartment building.
Housing starts, monthly, seasonally adjusted annual rate:
Jan. 1,291,000
Feb. 1,149,000
March 1,199,000
April 1,281,000
May 1,269,000
June (est.) 1,260,000
Source: FactSet
AHEAD IN THE CLOUD
Microsoft's efforts to draw businesses onto its cloud computing platform are paying off.
The software pioneer's fast growing cloud computing services are a key reason the company's earnings and revenue increased in the first three quarters of its fiscal year. Wall Street expects Microsoft will deliver the goods again on Thursday, when it reports its fiscal fourth quarter results.
