Key Events Schedule for the New Week
Tech giants are releasing earnings reports in quick succession, with Google, Tesla, IBM, and Texas Instruments all reporting on the same day, followed closely by Intel.
Google-A (GOOGL.US)、$Tesla (TSLA.US)$、$IBM Corp (IBM.US)$、Texas Instruments (TXN.US)will release its earnings report after U.S. market hours on July 22,$Intel (INTC.US)$and will report after U.S. market hours on July 23. Market attention centers on two key issues: the sustainability and scalability of AI investment returns, and each company’s forward-looking guidance on future capital expenditures.
A Goldman Sachs report emphasizes that the market is now most focused on whether a broader range of companies across the supply chain can translate AI-driven demand into actual profitability. Hyperscale cloud providers such as Microsoft, Amazon, Google, and Meta are investing in AI infrastructure at a pace exceeding their own operating cash flows. Whether this unprecedented wave of capital expenditure will generate sufficient returns has become the market’s most critical unresolved question.
Kevin Mahn, Chief Investment Officer at Hennion & Walsh Asset Management, stated that ifGoogle-A (GOOGL.US)any signal indicating a reduction in AI investment budgets is released, it could trigger a ripple effect throughout the entire AI supply chain and severely impact AI-related trades. Wall Street currently widely believes that Google is unlikely to significantly cut its AI investments in the near term. Additionally,$Tesla (TSLA.US)$progress in the AI domain remains a focal point of attention.
Investors are now placing greater emphasis on earnings quality, forward guidance, and whether current valuations are sufficiently justified by fundamentals. The market is closely watching whether the ever-expanding capital expenditures by tech giants will ultimately generate adequate returns. Companies must simultaneously demonstrate resilient profit margins, unchanged or improved full-year guidance, and evidence that earnings growth is broadening beyond a handful of AI and tech leaders to encompass a wider range of industries before the market is willing to assign higher valuations.
AMD is hosting its “Advancing AI 2026” conference, where Lisa Su will deliver a keynote speech.
$Advanced Micro Devices (AMD.US)$announced that its global flagship AI conference, “Advancing AI 2026,” will be held both in person and via live stream from the Moscone Center in San Francisco from July 22 to 23, Pacific Time. The event will unveil AMD-powered blueprints for building, deploying, and scaling AI within an open ecosystem.
Chairman and Chief Executive Officer of Advanced Micro DevicesLisa Su will deliver a speech at 00:30 Beijing time on Friday., joining numerous AMD leaders, AI ecosystem partners, customers, and developers to discuss how AMD’s end-to-end AI solutions—from chips to software—are reshaping the landscape of artificial intelligence and high-performance computing.
The European Central Bank is expected to hold interest rates unchanged.
The European Central Bank’s monetary policy decision will be announced on July 23 at 20:15. Markets widely expect rates to remain unchanged. Bloomberg Intelligence noted that the easing of eurozone inflation in June eliminated the need for an emergency rate hike; however, risks of second-round inflationary pressures from rising energy prices mean another rate increase remains possible in September.
Analysts at ING Groep and UBS Group both anticipate that the European Central Bank will keep the deposit facility rate unchanged at 2.25% next week, emphasizing that developments in the Middle East and their impact on inflation will be central considerations for policymakers ahead of the September meeting.
UBS also noted that the European Central Bank may provide further guidance in the coming months on raising banks’ minimum reserve requirements from 1% to 2%. UBS estimates this move would reduce excess liquidity in markets by approximately €170 billion and lower the interest payments the central bank makes annually to commercial banks.
Andy Burnham will assume office as UK Prime Minister on July 20, delivering his inaugural speech and announcing his first cabinet lineup.
According to CCTV International News citing UK media reports on July 13, Andy Burnham, Member of Parliament for the House of Commons, has secured nominations from 349 Labour MPs, effectively securing the Labour Party leadership and positioning him to become Prime Minister on July 20. Multiple polls indicate he is currently one of the most popular Labour politicians. An article in the Financial Times noted that Burnham’s core political asset stems from his over nine years as Mayor of Greater Manchester, during which he developed what is known as 'Manchesterism.'
The World Artificial Intelligence Conference (WAIC) will conclude on July 20.
The 2026 World Artificial Intelligence Conference (WAIC 2026) will close on July 20. Key agenda items include the WAIC Thinkers Forum – Kai-Fu Lee Session from 09:00–10:00, and the NetEase Zhiqi Forum – Building New Intelligent Enterprise Productivity with Trustworthy AI from 09:00–12:00. The full agenda for the day is as follows:
Key earnings calendar for the new week.
Next week, the U.S. earnings season enters its peak period,Google-A (GOOGL.US)、$IBM Corp (IBM.US)$、$Tesla (TSLA.US)$、Texas Instruments (TXN.US)、$Intel (INTC.US)$will successively release their results, putting AI investment theses to a new round of scrutiny. On the Hong Kong market front, there are currently no scheduled dark pool trading arrangements for new listings next week,CATL (03750.HK)will announce its earnings on Friday.
Monday (July 20)
Key highlights: U.S. June Conference Board Leading Economic Index (MoM); Japanese markets closed; FIFA World Cup final; AMC Entertainment earnings
On the economic data front, at 09:00, China’s one-year Loan Prime Rate (LPR) as of July 20 will be released; at 22:00, the U.S. will publish the June Conference Board Leading Economic Index (MoM).
Regarding earnings, $AMC Entertainment (AMC.US)$、Domino's Pizza (DPZ.US)will release its earnings during the U.S. pre-market session;$Zions Bancorporation (ZION.US)$ will report earnings after the U.S. market close.
On the economic calendar, at 03:00, the FIFA World Cup final; the World Artificial Intelligence Conference (WAIC) concludes today.
Market holiday: The Tokyo Stock Exchange in Japan is closed today for Marine Day.
Tuesday, July 21
Key highlights: Weekly change in ADP employment for the week ending July 4; earnings reports from General Motors and 3M
Economic data: At 20:15, the weekly change in ADP employment (in thousands) for the week ending July 4 will be released in the U.S.
On the economic calendar, at 10:00, the State Council Information Office will hold a press conference on July 21 as part of its thematic series titled 'Laying the Foundation for the 15th Five-Year Plan'; Andy Burnham will move into Downing Street on the 20th, becoming the UK’s seventh prime minister in ten years.
In terms of performance,$D.R. Horton (DHI.US)$、$General Motors (GM.US)$、$3M(MMM.US)$、$Novartis AG (NVS.US)$、Charles Schwab (SCHW.US)will release its earnings before the U.S. market opens; during the after-hours session,$Chubb Ltd (CB.US)$、$Capital One Financial(COF.US)$、$EQT Corp (EQT.US)$Will release financial results.
Wednesday, July 22
Key highlights: Weekly API crude oil inventories; earnings reports from Google, Tesla, IBM, and Texas Instruments
On the economic data front, the U.S. weekly API crude oil inventories (in 10,000 barrels) for the week ending July 17 will be released at 04:30. At 22:30, the U.S. will release the weekly EIA crude oil inventories (in 10,000 barrels), EIA Cushing, Oklahoma crude oil inventories (in 10,000 barrels), and EIA Strategic Petroleum Reserve inventories (in 10,000 barrels), all for the week ending July 17.
Regarding market trading, the NYMEX WTI Crude Oil August futures contract will be affected by the roll-over process. The last trading session on the trading floor will conclude at 02:30 on July 22, and the final electronic trading session will end at 05:00. Please pay close attention to exchange announcements regarding contract expiration and roll-over to manage risk accordingly. Additionally, some trading platforms typically set the expiration date for U.S. crude oil contracts one day earlier than the official NYMEX schedule—please take note.
In terms of performance,CME Group (CME.US)、$GE Vernova (GEV.US)$、$Moody's (MCO.US)$、$Philip Morris International (PM.US)$will report earnings before the U.S. market opens;Google-A (GOOGL.US)、$IBM Corp (IBM.US)$、$ServiceNow(NOW.US)$、$Tesla (TSLA.US)$、Texas Instruments (TXN.US) will report earnings after the U.S. market close.
Thursday, July 23
Key highlights: European Central Bank interest rate decision; weekly initial jobless claims; earnings reports from Intel and Nokia
On the economic data front, China’s share of global payments in RMB as reported by SWIFT for June will be released at 09:00. At 20:30, the U.S. weekly initial jobless claims (in 10,000s) for the week ending July 18 will be published. At 22:30, the U.S. weekly EIA natural gas storage change (in billion cubic feet) for the week ending July 17 will be released.
On the economic calendar, at 20:15, the European Central Bank will announce its interest rate decision; at 20:45, ECB President Lagarde will hold a monetary policy press conference.
In terms of performance,American Airlines (AAL.US)、Blackstone (BX.US) 、$Lockheed Martin (LMT.US)$、 Nokia (NOK.US)、 RTX Corp (RTX.US)will release earnings before the U.S. market open; after the U.S. market close,$Intel (INTC.US)$、$Newmont (NEM.US)$、$SAP SE (SAP.US)$will report earnings.
Friday, July 24
Key highlights: Japan's June core CPI year-over-year; White House Correspondents' Association (WHCA) dinner; AMD Advancing AI event; earnings reports from American Express and CATL
On the economic data front, at 07:30, Japan's June core CPI year-over-year will be released; at 21:45, the U.S. July S&P Global Manufacturing PMI preliminary reading and U.S. July S&P Global Services PMI preliminary reading will be published; at 22:00, U.S. June new home sales annualized (in thousands) will be released.
On the economic calendar, at 00:30,AMD's 2026 Advancing AI event, featuring a keynote address by CEO Lisa Su; Trump’s White House Correspondents' Association (WHCA) dinner has been rescheduled to Friday.
In terms of earnings, during U.S. pre-market hours,$American Express (AXP.US)$、$HCA Healthcare (HCA.US)$、NextEra Energy (NYSE: NEE)、$Schlumberger (SLB.US)$、$Verizon(VZ.US)$will release its earnings;CATL (03750.HK)Hong Kong-listed stocks will release their earnings on the same day.
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Wishing fellow investors a successful week ahead!
Editor/melody