In the coming week, investors will continue to monitor the ongoing war between Israel and Hamas and any impact on oil prices and global markets.
Crude gained nearly 6% last week following the attack on Israel amid choppy trading.
As for stocks, the benchmarks ended the week mixed on Friday with the Dow Jones Industrial Average notching a small gain, while the Nasdaq Composite and S&P 500 fell.
The entrance to Walt Disney Studios in Burbank, Calif., Aug. 6, 2018. (REUTERS/Lucy Nicholson/File Photo / Reuters Photos)
On Monday, Walt Disney will celebrate 100 years since its founding. Over the last 12 months, shares have fallen 12% amid executive upheaval and an ongoing proxy fight with activist investor Nelson Peltz.
Bob Iger attends a game between the Los Angeles Clippers and the Phoenix Suns at Crypto.com Arena April 20, 2023, in Los Angeles. (Allen Berezovsky/Getty Images / Getty Images)
CEO Bob Iger, who returned to the helm in November after the ouster of Bob Chapek, is mulling how to turn around the media giant, and possible moves involve selling assets.
On Wall Street, Charles Schwab will report to shareholders before the opening bell.
Bank of America, Goldman Sachs, Johnson & Johnson and Lockheed Martin will report earnings before the opening bell, while Interactive Brokers Group, JB Hunt and United Airlines will follow after the session closes.
Defense stocks were active last week after Israel was attacked by Hamas. Investors will be watching for any update on weapons purchases, including Lockheed's F-35 fighter jets. Those shares gained around 10% for the week.
Data on retail sales will give a fresh snapshot on how the back-to-school shopping season fared. Month-over-month sales are expected to rise +0.3% versus 0.6% in August. Year-over-year sales may increase +1.5% versus +2.5% during the same period a year ago, according to Trading Economics.
Additional reports include industrial production, business inventories and the NAHB housing market index.
Tesla and Netflix are the two biggest companies with earnings on Wednesday.
In July, Tesla's revenue and earnings per share came in above estimates for the second quarter of 2023 on $24.93 billion in total revenue, a 47% spike from the same three-month period in 2022. Tesla's net income for the last quarter rose 19.7% compared to 2022’s second quarter.
Shares have gained over 100% this year.
Meanwhile, Netflix's second-quarter earnings in July revealed a significant spike in subscriber growth, proving success with the controversial crackdown on password sharing and the rollout of a cheaper subscription option.
The streaming platform also notched a 3% increase in revenue the last quarter, totaling $8.2 billion.
Economic data on Wednesday includes mortgage applications, building permits, housing starts and EIA weekly crude stocks.
On Wall Street, Alaska Air Group, American Airlines, AT&T, Blackstone and Union Pacific will report earnings before the opening bell, with data on initial jobless claims and existing home sales due.
American Express will report before the opening bell on Wall Street.
Meanwhile, the EU Commission chief and EU Council president will be in the U.S. to meet with President Biden for an EU and U.S. summit.
FOX News’ Taylor Penley contributed to this report. FOX Business’ Eric Revell, Madeline Coggins and Elizabeth Pritchett also contributed.