Thursday Is Bringing A Shower of Earnings

This week is the heart of earnings season. Not only will we hear from Facebook Inc FB, Amazon.com Inc AMZN, Apple Inc AAPL and Alphabet Inc GOOGL GOOGL, but Thursday will also give us insights into a number of other industries.

That includes the digital payments market from PayPal Holdings Inc PYPL whose two-sided platform is expected to have benefited from the partial economic reset. It will be joined by Mastercard Inc NYSE on Thursday, offering us a clearer picture of how consumers are handling their money during these unprecedented times. General Electric GE posted better than expected revenue, whereas Spotify Technology SPOT failed to impress as monthly active users and revenue came in roughly in-line with their consensus estimates. 

The pandemic has laid bare the distinction between resilient and digital businesses versus those that are more cyclically exposed and reliant on physical interactions. The cable and media company Comcast Corporation CMCSA has a bit of both. Its Xfinity business is expected to continue bringing streaks of strong growth in its high-speed internet subscriber base whereas hefty losses are expected due to canceled sports events harming NBCUniversal. Comcast reports Thursday morning. 

We'll also soon hear from a number of consumer staples companies. Cereal maker Kellogg Company K will report on Thursday morning, as will Kraft Heinz Company KHC and Yum Brands Inc YUM. These reports, combined with the recent reports from Starbucks Corporation SBUX and McDonald's MCD should give us a good picture of the food and dining industries in Q2. 

As for the package-delivery company UPS UPS, which also reports Thursday morning, Wall Street expects a year-over-year decline in earnings on lower revenues due to the overall environment characterized by supply-chain disruptions and slowdown in economic activity.

Crucial data alert

Moreover, on Friday we will get a number of important economic data points, including GDP from the European Union as well as U.S. personal spending and income. Along with the big earnings slate, this week should provide us with valuable insights on how the global economic recovery is going. 

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