Apple and Tesla earnings; Jobs report; German carmakers gather for ‘diesel summit’


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This week in stocks: Apple and Tesla earnings; Jobs report; German carmakers gather for “diesel summit” – Jul. 30, 2017

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Although it’s been a quiet period for Apple, the tech giant is bracing for new announcements in the fall. Apple has stayed tight-lipped but rumors are already swirling on what to expect with the iPhone 8 launch later this year.

2. Jobs report: On Friday, the Labor Department will give an update on how many jobs were added in July. So far, it’s been smooth sailing on the markets front for President Donald Trump — around 863,000 jobs were added in the five months since his inauguration.

Last month’s jobs report also painted a rosy picture. The U.S. economy added 222,000 jobs in June, making it the 81st consecutive month of employment gains in the country.

The unemployment rate rose slightly to 4.4%. Economists credited the move to more people heading back into the job market — a positive sign.

3. Diesel summit for German carmakers: Germany’s biggest auto companies — Volkswagen (VLKAF), BMW and Daimler (DDAIF) — are gathering with government ministers for a “diesel summit” on Thursday. They’ll be discussing ideas on how to reduce diesel emissions.

The summit follows claims that Germany’s carmakers were secretly running a cartel to suspend competition.

Meanwhile, diesel concerns have already hit Stuttgart — the home of Mercedes-Benz and Porsche. The city could be gearing up for a ban on diesel cars as early as January 1.

4. Tesla earnings: Tesla (TSLA) will report its quarterly finances after the market closes Wednesday. The electric carmaker has been on a roller coaster ride this year: skipping past GM (GM) as the most valuable car company — but posting losses of $330 million in its first quarter.

The real focus now will be on the Model 3: Tesla’s first mass-market electric car. The first batch was delivered on Friday night.

5. Bank of England interest rates decision: The BoE will decide whether to raise interest rates, and it will release its inflation report on Friday.

While talks of a potential hike have been brewing, rates have managed to hold at a record low of 0.25%. This could change after June saw a narrow split between policymakers.

6. Coming this week:

Monday — Bank of England security and maintenance workers go on strike over pay

Tuesday — Apple earnings, Time Warner earnings; Auto sales; Eurozone Q2 GDP

Wednesday — Tesla, Sinclair Broadcasting earnings

ThursdayWeight Watchers (WTW), The Kraft Heinz Company and Shake Shack (SHAK) earnings; German auto industry and politicians hold “diesel summit”; Bank of England interest rate decision

Friday — Jobs report

CNNMoney (New York) First published July 30, 2017: 8:00 AM ET


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