Wall Street readies for big-tech earnings and central bank week

Wall Street faces a heavy calendar this week as Meta Platforms, Apple, Amazon, Alphabet and Microsoft report second-quarter results alongside Robinhood and Ford, while the Bank of Japan, Federal Reserve, Bank of Canada, European Central Bank and Bank of England deliver policy decisions.

Robinhood opens the corporate slate with an after-the-bell report and a 5 p.m. analyst session. Last quarter the broker beat profit estimates but missed revenue. LSEG expects double-digit year-over-year earnings growth for Robinhood. The stock has declined after each of the last four quarterly releases. Market interest will center on crypto trading volumes, options activity, deposit trends and retail participation in markets.

Alphabet reports after Wednesday’s close and will host a 4:30 p.m. call. LSEG forecasts revenue growth near 20% from a year earlier and a decline in profit. Investors will look for signals on search demand, YouTube monetization, Google Cloud performance and costs tied to AI development.

Ford reports after Wednesday’s close with a 5 p.m. call. LSEG projects more than 30% year-on-year earnings growth. UBS recently upgraded Ford to buy; UBS analyst Joseph Spak wrote, “Investors have been very focused on the impact of aluminum prices for Ford. However, we believe concerns are overblown.” Ford is down about 5.6% for the year but has risen after several recent quarterly beats.

Amazon reports after Wednesday’s close with a 5:30 p.m. call. After an 8% share-price drop following a profit shortfall and a large spending outlook last quarter, LSEG expects only a small year-over-year earnings increase this period. Attention will focus on Amazon Web Services performance, retail margins, advertising sales and spending on AI infrastructure.

Meta and Microsoft both report Wednesday after the bell and hold 5:30 p.m. calls. LSEG projects strong sales growth for Meta and double-digit earnings and revenue growth for Microsoft. Meta has beaten earnings estimates for each quarter over the past three years and recently released its Muse Spark AI model. Microsoft’s recent performance has drawn attention to cloud growth and margin guidance.

Apple reports Thursday after the close with a 5 p.m. call. LSEG forecasts nearly 20% year-over-year earnings growth following firm iPhone demand. The report will be Apple’s first since the company named John Tenrus as CEO-designate.

The broader Q2 earnings season has included about 140 S&P 500 companies so far, with roughly 82% beating estimates, according to FactSet. The central bank schedule is packed: the Bank of Japan meets Tuesday; the Federal Reserve and Bank of Canada meet Wednesday; and the European Central Bank and Bank of England meet Thursday. Investors will weigh corporate results and policy decisions for information on AI spending, cloud trends, consumer demand, advertising revenues, retail margins and retail trading activity.