A look at some of the key business events and economic indicators upcoming this week:
LESS RED
Delta Air Lines reports its second-quarter results Wednesday.
Wall Street expects the company narrowed its loss in the April-June quarter from a year earlier as its revenue increased. The airline said this spring that it could be profitable by late summer if the budding recovery in air travel demand continues. Several airlines have reported that bookings began to pick up in February as the coronavirus vaccine distribution ramped up and pandemic-related restrictions have eased.
MANUFACTURING BELLWETHER
The Federal Reserve issues its June snapshot of U.S. industrial production Thursday.
Economists project industrial production, which measures output at U.S. factories, utilities and mines, rose 0.6% last month. That would be the fourth straight monthly increase, reflecting a resurgence in American industry as the economy continues to recover from the pandemic. Industrial production jumped 0.8% in May as factories ramped up production of cars, trucks and auto parts.
Industrial production, monthly percent change, seasonally adjusted:
Jan. 1.1
Feb. -2.9
March 2.6
April 0.1
May 0.8
June (est.) 0.6
Source: FactSet
SHOPPED OUT?
Economists predict that U.S. retail sales fell again last month.
They expect sales dropped 0.6% in June from the previous month. That would follow a 1.3% pullback in May as sales fell at auto dealerships and furniture, electronics and home-improvement stores. Many Americans are spending more on vacations, haircuts and other services instead of retail goods. The Commerce Department serves up its July retail sales figures Friday.
Retail sales, monthly percent change, seasonally adjusted:
Jan. 7.6
Feb. -2.9
March 11.3
April 0.9
May -1.3
June (est.) -0.6
Source: FactSet
Before you consider Delta Air Lines, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Delta Air Lines wasn't on the list.
While Delta Air Lines currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for May 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
