A look at some of the key business events and economic indicators upcoming this week:
Wall Street expects Netflix’s latest quarterly report card will show the video streaming service didn’t skip a beat after a strong 2020.
Analysts predict the company will report Tuesday that its first-quarter earnings and revenue increased sharply from a year earlier. Investors will be listening for an update on Netflix’s subscriber count, which surpassed 200 million for the first time last year as the company’s expanding lineup of TV series and movies continued to captivate people stuck at home during the pandemic.
RED-HOT HOUSING MARKET
Economists project that sales of previously occupied homes accelerated in March as the spring homebuying season ramped up.
The National Association of Realtors is expected to report Thursday that sales of previously occupied U.S. homes increased to a seasonally adjusted annual rate of 6.25 million units last month. That would follow a pace of 6.22 million units in February, when unseasonably cold winter weather and ice storms in Texas and other southern states dampened sales.
Existing home sales, in millions, seasonally adjusted annual rate:
March (est.) 6.25
American Express delivers its first-quarter results Friday.
The credit card issuer is expected to report that its earnings increased sharply from a year ago, while its revenue declined. The pandemic struck at the heart of AmEx’s business model last year. Its cardmembers, often the well-to-do and corporate clients, stopped traveling for leisure or business and weren’t able to attend concerts and shows.
Featured Article: How is inflation measured?7 Electric Vehicle (EV) Stocks That Are Ready to Rebound
The electric vehicle (EV) sector was nearly as frothy as the “pandemic stocks” in 2020. It wasn’t that the EV sector was dormant during the Trump administration.
But, as the saying goes, elections have consequences. And Wall Street understands they can make money in any administration. And as a bet that Joe Biden would win the presidency, electric vehicle stocks soared.
For starters, the Biden administration has already said it will prioritize climate change like no administration ever has. And one way they are going to do that is to incentivize the production and purchase of electric vehicles.
And to take advantage of this shift towards electric vehicle stocks, many private companies raced to get in on the action. The preferred way for many of these companies to go public was via a Special Purpose Acquisition Company (SPAC). A SPAC is basically a shortcut to the traditional IPO process.
However, what goes up frequently goes down and since late February, EV stocks have been getting battered. But this is creating an opportunity because the electric vehicle is still supposed to see exceptional growth over the next five years.
To help you take advantage of this we’ve created this special presentation that includes seven stocks that appear to be ready to take the next leg up.
View the "7 Electric Vehicle (EV) Stocks That Are Ready to Rebound "