The Week Ahead
July 13, 2026
Economic news
U.S. Consumer Price Index July 14th
The consumer price index data for June will come out on Tuesday. A major gauge of inflation, the CPI looks at prices over time paid by urban consumers for a basket of consumer goods. As of May, the 12-month percentage change for the CPI was 4.2%. The main culprit has been energy prices, which were up 23.5%1. This could largely be attributed to the ongoing conflicts in the Middle East, and subsequent supply disruptions in oil shipments. For May alone, CPI for all items rose 0.5%. Looking to next week, investors, economists, and everyone alike will be looking to see whether consumer price changes accelerated in June or slowed down.
U.S. Housing Starts July 17th
Falling 15.4% in May to 1.177 million units2, U.S. housing starts saw their lowest levels since May of 2020 potentially signaling weakness in the market. One month can’t confirm anything, so the June results may tell the tale of where the market is heading. One of the main challenges facing housing starts is higher mortgage rates and their damper on demand. Additionally, consumers are still factoring in higher costs that leave less available for things like new homes.
Earnings Related Market Movers
JPMorgan Chase & Co. (JPM) Jul 13th
As the nation’s largest bank, JPMorgan often sets the tone for the banking sector, making its results an important barometer for consumer spending, loan demand, capital markets activity, and credit quality. Management’s outlook on interest rates, lending trends, and the broader economic environment will likely receive as much attention as the quarterly numbers themselves.
The other story going through headlines is that the investment banking side of the business is looking to pursue smaller deals to drive revenue3. The bank announced this week that it was going to devote a team to working with small-cap companies in the $100-$500 million space, a notable shift from their typical involvement with larger businesses.
The financial giant is coming off a strong first quarter, where earnings increased 16.7% year over year to $5.94 per diluted share with revenue growth of 10% to $49.84 billion. Growth was driven by strength across several business lines, including a 28% increase in investment banking fees, a 20% rise in Markets revenue4, and continued resilience in Consumer & Community Banking.
Johnson & Johnson (JNJ) July 15th
Up 28% year to date, Johnson & Johnson had a good start to the year in terms of top line growth. First-quarter sales rose 9.9% to $24.06 billion, driven by continued growth across both its Innovative Medicine and MedTech businesses. Adjusted net earnings were a bit weaker with a decline of 2.5% per diluted share to $2.705.
One of the main strengths for Johnson & Johnson has been their pipeline. For example, they recently received approval in the United States for a number of medications including Icotyde for plaque psoriasis and TECNIS PureSee Intraocular Lenses for those suffering from cataracts. Similarly, they also received approval in Europe for Varipulse Pro that helps treat atrial fibrillation. Currently, Johnson & Johnson has drugs and treatments in the pipeline ranging from oncology, immunology, neuroscience, all the way to treatments for HIV and hypertension6.
With the second quarter wrapped up, investors will be looking for continued growth in both Innovative Medicine and MedTech, specifically on updates for recently launched products and the company’s pipeline. Markets will be watching for any further changes to full-year guidance after management raised their 2026 outlook in the first quarter; forecasting reported sales of $100.8 billion, and adjusted earnings per share of $11.55.
Netflix (NFLX) July 16th
Netflix experienced a strong first quarter with revenue rising 16% year-over-year to $12.25 billion7. The streaming giant continued to benefit from membership growth, higher pricing and expanding advertising revenues. Operating margins came in at 32.3%, ahead of its full-year target. Management also reaffirmed its full-year revenue guidance of $50.7-$51.7 billion and said advertising revenue remains on track to double this year to around $3 billion, underlining confidence in the long-term growth of its ad-supported business.
Despite these results, Netflix shares are down 17% this year.
Looking ahead to the second quarter, investors will likely focus on whether Netflix can maintain that momentum that was demonstrated in Q1. Netflix’s forecast for Q2 included a 13.5% year-over-year increase in revenue to $12.57 billion, slower than last year’s second quarter growth of 15.9%. Markets will also be looking for updates on advertising, pricing and engagement, as well as any commentary on the outlook for the remainder of the year, with Netflix maintaining its forecast for a 31.5% operating margin across 2026.
1 https://www.bls.gov/cpi/
2 https://tradingeconomics.com/united-states/housing-starts
3 https://finance.yahoo.com/markets/article/jpmorgan-to-pursue-smaller-deals-in-latest-growth-push-173733501.html
4 https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2026/1st-quarter/a5fd2d13-877b-43b2-8b58-81bad4399c87.pdf
5 https://s203.q4cdn.com/636242992/files/doc_financials/2026/q1/1Q26-Earnings-Press-Release-Final-Draft-04-13-26_10AM-with-attachments.pdf
6 https://www.investor.jnj.com/pipeline/development-pipeline/default.aspx
7 https://s22.q4cdn.com/959853165/files/doc_financials/2026/q1/FINAL-Q1-26-Shareholder-Letter.pdf
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