Tesla, Microsoft, Boeing earnings along with highest GDP week

This week will be a busy one for investors with earnings from defense, credit cards and airlines reporting quarterly results.

The stock market is coming off a mixed week with the Dow Jones Industrial Average down more than 2% while the S&P fell marginally while the Nasdaq Composite rose about the same despite a strong Friday.

FOX Business breaks down this week’s top market events.

THE HEDGE FUND INDUSTRY LOST $125 BILLION IN ASSETS IN 2022

Monday, January 23

IRS tax season begins to accept and process 2022 individual tax returns. This occurs when the IRS adjusted tax brackets upward, to account for inflation, for the 2023 tax year.

(Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images/Getty Images)

Meanwhile, Activision Blizzard, maker of games like World of Warcraft, Overwatch and Daiblo, will stop working in China on Monday. This comes as Blizzard refused to renew a 14-year contract it had with NetEase, a Chinese company, to host the game in China. Blizzard is looking for a new partner in China.

In automotive news, GM will begin notifying car owners about a recall focused on daytime running lights that won’t turn off, which can cause dangerous glare.

In earnings news, before the market opens, Baker Hughes and Synchrony Financial will take center stage.

After the bell, investors will hear from Brown & Brown and Zions Bank.

In economic news, the Conference Board’s Index of Leading Economic Indicators is forecast to decline 0.7%.

Tuesdayand, January 24

On Tuesday, Apple launches its new MacBook Pro computers with updated internal chips.

Oscar nominations will be announced Monday in a year that saw Tom Cruise’s long-awaited sequels to Avatar and Top Gun.

Also Monday, the Senate holds a hearing on the ticketing industry after Taylor Swift’s Eras tour fiasco and subsequent lawsuit from her fans. Lawmakers will investigate whether Ticketmaster has been acting like a monopoly and whether it should be subject to antitrust rules.

Taylor Swift ran into trouble with Ticketmaster after fans were unable to purchase tickets for her “The Eras Tour.” (Bryan Bedder/Getty Images)

A flurry of gains on Tuesday included 3M, General Electric, Johnson & Johnson, PACCAR, Lockheed Martin, Raytheon Technologies, Travelers, Union Pacific and Verizon.

After the bell, investors will hear from Capital One Financial, Microsoft and Texas Instruments.

Economic data released on Tuesday will include the S&P Global Manufacturing and Services PMI as well as the Richmond Fed Services Index.

Wednesday, January 25

Microsoft’s Developer Direct games presentation will include announcements about Redfall, Forza Motorsport, Minecraft Legends and The Elder Scrolls Online.

Meanwhile, in the UK, Amazon workers are going on strike at a warehouse as waves of strikes ravage the UK.

Before the market opens, investors will tune in to earnings calls from AT&T, Boeing, General Dynamics, NextEra Energy, US Bancorp, Textron, Hess, Nasdaq, and Norfolk Southern.

After the bell rings, investors will eagerly follow the earnings of Tesla, which recently cut prices along with IBM, Crown Castle, Lam Research, Flex, CSX and Levi Strauss.

Economic data on Wednesday will include EIA weekly crude stocks and mortgage applications.

MORTGAGE RATES FALL TO THE LOWEST LEVEL SINCE SEPTEMBER

Thursday, January 26

The FDA will meet Thursday to discuss the future of COVID vaccines and boosters.

Audi is introducing the Activesphere concept car as part of its collection of concept cars that include the Grandsphere, Skysphere and Urbansphere, all built on Volkswagen Group’s EPP electric vehicle platform.

Earnings to start the day will include Comcast, Dow, MasterCard, Northrup Grumman, Sherwin-Williams, Tractor Supply Co, Valero Energy, Alaska Airlines, American Airlines, Jetblue and Southwest.

After the bell, investors will hear from Visa, Intel, KLA and L3Harris Technologies.

On the economic calendar, the first reading of GDP for the fourth quarter will be released and is expected to show growth of 2.8%, according to forecasts.

Other data to consider includes building permits, durable goods, and initial unemployment claims.

CLICK HERE TO GET THE FOX BUSINESS APP

Friday, January 27

Disneyland resorts will celebrate Walt Disney’s 100th birthday.

This comes as Disney has been locked in a fight for control of its board while activist investor Nelson Peltz fights for a seat.

Earnings before the market open on Friday will end the week with American Express, Chevron, Charter Communications, Colgate-Palmolive and Booz Allen Hamilton.

Economic data to close out the week will include personal income, personal consumption, the University of Michigan Consumer Confidence Index and pending home sales.