Wall Street Q2 2021 earnings season has been on a roll for some time already. However, investors should buckle up as this week will be the big week of earnings marathon. Traders will be offered reports from US mega-caps and other top tech stocks, starting with a report from Tesla today after the Wall Street session closes. Things only get more interesting in following days with releases from Facebook, Amazon, Apple, Alphabet and Microsoft. Those 5 stocks currently account for over 22% of the S&P 500 index. Add Tesla to that and we arrive at almost 25%. Needless to say, those are not the only S&P 500 companies scheduled to report this week so this is undoubtedly the top week of earnings season in terms of combined stock market share of reporting companies.
Investors will also be served reports from some big names outside the tech sector. 3M and General Electric will report on Tuesday. Boeing, Ford Motor, Pfizer and McDonald's will release earnings on Wednesday. Week will conclude with reports from Caterpillar and two oil companies - Chevron and ExxonMobil - on Friday.
Keep in mind that there is a FOMC meeting scheduled for Wednesday evening (7:00 pm BST) as well as US Q2 GDP release scheduled for Thursday (1:30 pm BST). Combining it with an avalanche of earnings reports, we may have just entered the most interesting week of summer 2021 for stock markets.
Top US earnings reports of the week. Source: Bloomberg, XTB Research
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