Yahoo Finance The Week Ahead---At a Glance
Fed to Announce July Rate Decision
Th Federal Reserve announces its latest interest-rate decision on Wednesday. Officials have indicated they could raise rates as early as September, though many investors expect the Fed to wait until December. Last week, Chairwoman Janet Yellen said moving too soon could threaten the recovery while waiting too long would risk overheating the economy and accelerating inflation. The central bank has pinned its benchmark federal funds rate near zero since December 2008 to spur the economy.
Obama Travels to Ethiopia
After U.S. President Barack Obama makes his first visit as president to Kenya, the homeland of his father, this weekend, he travels to Ethiopia on Monday. There he will meet with the African Union on matters of trade, business and security. The trip is part of U.S. efforts “to work with the countries and citizens of sub-Saharan Africa to accelerate economic growth, strengthen democratic institutions, and improve security,” according to White House press secretary Josh Earnest. No sitting U.S. president has visited Ethiopia before.
Earnings Offer Insight on Baidu's Bets
When Chinese search giant Baidu reports its earnings Monday, investors will be looking for clues on whether its bold, expensive foray into food delivery, movie ticketing and other services is helping it adapt to the challenges posed by consumers’ shift to mobile devices. The operator of China’s most widely used search engine is betting that such initiatives will drive future growth as consumers increasingly get online on their smartphones, but the spending has added pressure to profit margins in recent quarters.
First Look at Second-Quarter GDP
On Thursday, the U.S. Commerce Department will provide its first look at second-quarter economic growth. The number is expected to be a marked improvement from the first-quarter’s 0.2% contraction, though full year growth will likely remain subdued.
China, Kazakhstan Vie for 2022 Winter Olympics
On Thursday, the Commerce Department will provide its first look at second-quarter economic growth. The number is expected to be a marked improvement from the first-quarter’s 0.2% contraction, though full year growth will likely remain subdued.
Earnings to Watch
The corporate world enters the busiest part of earnings season next week. In Europe, Swiss bank UBS and oil giant BP report on Tuesday, with Barclays, RBS, Deutsche Bank and Shell reporting later in the week. In the U.S., drug makers Pfizer and Merck along with tech darlings Twitter and Yelp will release results Tuesday. Later in the week, Facebook, Procter & Gamble and Exxon are among the big companies that will report.
