SpaceX reports first quarterly earnings since June IPO
The Associated Press reported that the coming week on Wall Street includes earnings from several major U.S. companies and the release of the monthly jobs report for July. The batch of profits and forecasts could help investors gauge the health of consumer spending, which has been pressured by persistent inflation.
Clorox and Marriott International report their latest results on Monday. SpaceX, formally known as Space Exploration Technologies Corp., releases its earnings on Tuesday, marking its first quarterly report since the company’s market debut in June. The stock has risen well above and then fallen below its opening price since the IPO, according to AP.
McDonald’s also reports on Tuesday, and Expedia Group reports on Wednesday.
The S&P 500 stood at 7,489.72 on Aug. 1, according to FRED data, reflecting the record levels the index has reached this year. More than half of S&P 500 companies have reported their latest results, and profit growth has been strong, AP reported. The latest round of earnings could be used as a gauge for whether rising stock values are justified.