Tomorrow's Headliners: AT&T, Microsoft

AT&T ( T), Microsoft ( MSFT) and American Express ( AXP) will become the latest components of the Dow Jones Industrial Average to report quarterly earnings when both release results Thursday.

Analysts expect AT&T to notch a profit of 51 cents a share on revenue of $30.69 billion, according to Thomson Reuters. Analysts expect AT&T to say it signed on 1.2 million net new subscribers in the second quarter thanks to robust sales of Apple's ( AAPL) new iteration of its popular iPhone. If correct, that figure would shrink year-ago levels when AT&T added 1.3 million net new subscribers.

Two other Dow components, McDonald's ( MCD) and 3M ( MMM), will also report ahead of Thursday's open.

Microsoft and AmEx, on the other hand, will report quarterly results later in the day. Wall Street is anticipating Microsoft to report a profit of 36 cents a share on revenue of $14.38 billion, according to a poll of analysts by Thomson Reuters. AmEx is expected to earn 26 cents a share on revenue of $6.29 billion.

But Thursday's session won't only be about Dow components reporting earnings. Ford ( F), UPS ( UPS) Phillip Morris ( PM), Fifth Third Bancorp ( FITB), JetBlue Airways ( JBLU), and EMC ( EMC), among many others, will report before the trading day starts.

Amazon.com ( AMZN), Netflix ( NFLX), Broadcom ( BRCM), and Juniper Networks ( JNPR) will join Microsoft in releasing results after Thursday's close.

Away from earnings, economic data will once again pop up after a long absence. At 8:30 a.m. EDT, the Labor Department will release weekly initial jobless claims data. After that, the National Association of Realtors releases existing home sales data for June. Sales are expected to have risen to 4.8 million units last month from 4.77 million in May, according to economists polled by Reuters.

More from Opinion

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Apple Buys Tesla? Amazon Buys Sears? 3 Dream Mergers That Just Make Sense

Apple Buys Tesla? Amazon Buys Sears? 3 Dream Mergers That Just Make Sense

Amazon's Assault on Grocery Stores Will Have a Profound Impact on Many

Amazon's Assault on Grocery Stores Will Have a Profound Impact on Many

It's Dumb to Think There Aren't Already Monopolies in Big Tech

It's Dumb to Think There Aren't Already Monopolies in Big Tech

Google's EU Battles Are Hardly a Reason to Panic

Google's EU Battles Are Hardly a Reason to Panic