Corporate earnings season continues this week and will influence what happens with stocks in the market.
Apple reports its fiscal third quarter earnings report on Tuesday after the closing bell.
The Cupertino California based company is expected to disclose its second consecutive quarter of iPhone declines but will likely unveil its newest iPhone 7 in September.
This week investors will also be paying close attention to an interest rate decision on Wednesday by policymakers at the Federal Reserve.
There is no scheduled press conference at the conclusion of the Fed’s 2 day meeting ending Wednesday with a released policy statement for the market to digest.
The vast majority of economists are not expecting any monetary policy changes with the federal funds interest rate during the Fed’s July meeting this week.
The June non-farm payroll jobs report released earlier this month showed a strong recovery of U.S. jobs with 287,000 added, relieving market fears after only 11,000 non-farm payroll jobs were created in May.
The June non-farm payroll jobs report from the U.S. Bureau of Labor Statistics also showed that over the past year, average hourly earnings for all employees have risen 2.6 percent.
On Tuesday the Consumer Confidence report for July will be reported alongside New Home sales for June and the Case-Shiller 20 city index for May.
On Wednesday Durable Orders for June will come into focus.
Some of the other important economic data points this week includes 2nd quarter 2016 U.S. GDP reported on Friday.
Economists from briefing.com have a consensus GDP growth estimate of 2.6 percent in the 2nd quarter which comes after U.S. GDP grew by 1.1 percent in the 1st quarter of 2016.
The Democratic National Convention will take place this week in Philadelphia from July 25-28th.
Tuesday- Consumer Confidence (July), New Home Sales (June), Case Shiller 20 City Index (May)
Wednesday- FOMC rate decision, Durable Orders (June), Pending Home Sales (June), Crude Inventories (7/23)
Thursday- Initial and Continuing Jobless claims, International Trade in Goods (June), Natural Gas Inventories (7/23)
Friday- 2nd quarter U.S. GDP-advance, Employment Cost Index (2nd quarter), Chicago PMI (July), Michigan Sentiment (July-final).