Alphabet: Investors will be listening for commentary on advertising revenue, cloud growth, and artificial intelligence plans when Google’s parent reports earnings after the bell. Analysts expect Alphabet to report $72.8bn in revenue in the June quarter, including $57.4bn in advertising sales, for earnings of $1.34 a share, according to Refinitv.
Microsoft: The tech group’s stock hit a record last week after it announced a $30 monthly premium for generative AI features in its widely used productivity software, Microsoft 365. Analysts polled by Refinitiv expect Microsoft to have earned $2.55 a share on revenue of $55.5bn in the three months to June, up from $51.9bn in the same quarter of 2022.
Other earnings: US aerospace and defence contractor Raytheon, music streaming platform Spotify, telecommunications company Verizon, conglomerate General Electric, personal care manufacturer Kimberly-Clark, Post-it maker 3M, biotechnology firm Biogen and medical technology group GE Health will report earnings before the bell. Snapchat parent Snap, credit card group Visa and tech group Texas Instruments will report after the market closes.
Economic data: House prices across 20 major US metropolitan areas are expected to have fallen by 2.2 per cent in May after falling 1.7 per cent in April. Separately, the Conference Board’s consumer confidence index is forecast to rise to 111.8 for July, from a reading of 109.7 in June, its highest level since January 2022.
