Several big technology and telecommunication companies will release their first-quarter 2024 financial reports this week, with electric vehicle (EV) maker Tesla’s (TSLA) Tuesday report sure to attract significant investor interest, followed by earnings later in the week from Meta Platforms (META), Microsoft (MSFT), Google (GOOGL), Intel (INTC), and other leading companies. Reports from Boeing (BA), Albertsons (ACI), ExxonMobil (XOM), and Chevron (CVX) also could be noteworthy.

In addition, market watchers will be closely focused on Friday’s release of the Personal Consumption Expenditures (PCE) price index, which, as the last measure of inflation before the next meeting of the Federal Reserve, potentially could have an impact on discussions about interest rates.

Tesla Earnings Lead Busy Week of First-Quarter Reports
Earnings reports will capture investor attention throughout the week, with several top tech, telecom, and healthcare companies set to issue their financial results, along with reports from some embattled firms. After its shares fell last week on reports that it would cut 10% of its workforce, Tesla’s first-quarter results on Tuesday could be one of the most closely watched reports of the week.

Investors also will be eyeing reports from major tech companies, starting Wednesday with Meta, whose financials come after an analyst upgrade over the potential for artificial intelligence (AI) to drive ad growth at the Facebook parent. Thursday features reports from three more big tech firms. Microsoft’s financials will show if it can keep up the momentum from AI and its cloud division, which helped propel it to an earnings beat last quarter. Google parent Alphabet’s report comes as it flirts with reaching $2 trillion in market capitalization. Investors will also be watching Intel’s report that day after the chipmaker recently disclosed that its foundry segment was generating a widening operating loss. Several major telecom providers will report financials this week, including Verizon on Monday, AT&T on Wednesday, followed by Comcast and T-Mobile on Thursday. Oil giants ExxonMobil and Chevron will report on Friday.

In other companies of note, Albertsons on Monday will report its financials as the grocery chain fights with the Federal Trade Commission (FTC) over its proposed merger with Kroger (KR). And Wednesday’s earnings report from Boeing will provide details about the aircraft maker’s sales and deliveries amid concerns over safety and production issues.

PCE Report Gives Fed Last Look at Inflation Before Meeting
Key inflation data is coming on Friday that could help set the tone for the next meeting of the Federal Open Market Committee (FOMC), where the future of interest rates will be on the table. The Personal Consumption Expenditures (PCE) index for March will be the last piece of data on inflation that Fed officials will get before their meeting on April 30-May 1, and it’s likely to be a key point of discussion in the meeting. The PCE is the Federal Reserve’s preferred measure of inflation, making Friday’s report the latest reading on their progress toward driving inflation down to the 2% annual rate target.

After the inflation rate plummeted in 2023, it has mostly moved sideways in 2024, with Fed officials referring to recent inflation reports as “bumps,” like last month’s PCE report showing inflation moving higher to 2.5% in February. Friday’s release of the Michigan Consumer Sentiment index could also attract attention from Fed officials, particularly consumer expectations on inflation, which can play a key role in the path of prices. While the Fed isn’t expected to change interest rates from their current levels of 5.25% to 5.5% at the upcoming FOMC meeting, the data could play a role in officials changing their projections for future cuts. Until the meeting later this month, Fed officials will be in a blackout period, prohibiting them from making public comments.