Buckle in for a busy week filled with bellwether earnings reports, monetary policy decisions, and critical economic numbers. And that's not even counting the wrenches the Trump administration could throw into the mix.
Apple (AAPL - Get Report) , the largest publicly traded company in the world, will report earnings on Tuesday afternoon in what has become a highlight of the reporting season. Its first quarter is one of its most critical with the results from the holiday-shopping season likely to boost profit and revenue.
Apple ended its fourth quarter in September with its first revenue decline in a fiscal year since 2001. The shock was mainly tied to declining sales of the iPhone. On the bright side, most analysts anticipate iPhone sales to begin to show growth again in the first quarter after declining for a year. Apple is expected to have sold roughly 76 million phones over the recent quarter, according to Bloomberg analysis.
Also in tech and telecom earnings: Advanced Micro Devices (AMD - Get Report) , Electronic Arts (EA - Get Report) , Match Group (MTCH - Get Report) , Sprint (S - Get Report) and Xerox (XRX - Get Report) will report on Tuesday; Facebook (FB - Get Report) , IAC Interactive (IACI) and Symantec (SYMC - Get Report) on Wednesday; and Amazon (AMZN - Get Report) , GoPro (GPRO - Get Report) , Tableau Software (DATA - Get Report) and Vodafone (V - Get Report) on Thursday.
So far, one-third of S&P 500 companies have reported earnings with nearly 66% exceeding profits estimates. Average earnings for the S&P 500 in the fourth quarter are expected to increase 6.8% from the same period a year earlier, according to Thomson Reuters.
In consumer goods, earnings are expected from: Coach (COH) , Harley-Davidson (HOG - Get Report) , Mastercard (MA - Get Report) , Under Armour (UA - Get Report) and UPS (UPS - Get Report) on Tuesday; Energizer (ENR - Get Report) on Wednesday; Ralph Lauren (RL - Get Report) , Chipotle (CMG - Get Report) , Estee Lauder (EL - Get Report) and Visa (V - Get Report) on Thursday; and Clorox (CLX - Get Report) , Hershey (HSY - Get Report) , and Honda Motors (HMC - Get Report) on Friday.
In the health care and drugs sector, earnings are scheduled from: Aetna (AET) , Eli Lilly (LLY - Get Report) and Pfizer (PFE - Get Report) on on Tuesday; Anthem (ANTM - Get Report) on Wednesday; and Amgen (AMGN - Get Report) , AthenaHealth (ATHN) , Cigna (CI - Get Report) and Merck (MRK - Get Report) on Thursday.
Anadarko Petroleum (APC - Get Report) and Exxon Mobil (XOM - Get Report) are two industrials and energy companies that will report earnings on Tuesday; Owens-Illinois (OI - Get Report) will report on Wednesday; Royal Dutch Shell (RDS.A - Get Report) on Thursday; and Phillips 66 (PSX - Get Report) on Friday.
Federal Reserve members will convene on Tuesday for a two-day meeting, culminating in an announcement on Wednesday afternoon about interest rates. Most economists don't expect a change to rates at this meeting, though the Fed's statement could shape expectations for the rest of the year.
"We believe the statement will reflect the view that the labor market is at or near full employment," Barclays analysts wrote in a note. "Regarding inflation, we look for a modest upgrade to reflect recent trends, but believe the committee sees this as mainly a mechanical passing of base effects from energy prices and currency movements."
Nonfarm payrolls for January will headline the economic calendar in the coming week. The U.S. jobs report is expected to show that the U.S. economy added 170,000 jobs to begin the new year and for the unemployment rate to hold at 4.7%. Average hourly earnings are expected to have risen 0.3%.
Also on the economic calendar in the coming week: Personal income and outlays for December, and the pending home sales index for December will be released on Monday; Chicago PMI for January and consumer confidence for January on Tuesday; the ADP National Employment Report for January, the ISM Manufacturing Index for January, and construction spending for December on Wednesday; and factory orders for December and the ISM Non-Manufacturing Index for January on Friday.
Of course, political actions could still make waves on Wall Street as they have since Donald Trump took the White House just over a week ago. In just his first week in office, Trump has railed against the media, called into question the legitimacy of voting systems, and ignited a potential trade war with Mexico. Trump is expected to name his Supreme Court nominee on Thursday.