Microsoft: Investors will be watching to see if the technology group can allay sectorwide concerns that returns from vast artificial intelligence-related spending are failing to live up to early hopes. Microsoft is expected to report that revenue increased almost 15 per cent from a year ago, to $64.4bn.
Federal Reserve: The US central bank’s monetary policy-setting committee begins its two-day meeting. Although the Fed is expected to keep interest rates steady on Wednesday, market watchers will be looking for hints that an easing cycle could begin as early as September.
Other companies: US consumer products company Procter & Gamble, pharmaceutical groups Pfizer and Merck, global agricultural commodities merchant Archer-Daniels-Midland and oil refiner Phillips 66 all report earnings before the opening bell. Starbucks, the world’s largest coffee chain, will post results after market close.
Job openings: Data from the US government is forecast to show that job openings fell to 8mn in June from 8.14mn the previous month.
Consumer confidence: US consumer confidence is expected to have declined in July, with the Conference Board’s index anticipated to tick down to 99.7, from a reading of 100.4 in June.
US property prices: The Case-Shiller 20-city composite index is forecast to show the yearly rate of growth in home prices slowed to 6.7 per cent in May from 7.2 per cent in April.
