This Week: US home sales, Tesla earns, Amazon earns
A look at some of the key business events and economic indicators upcoming this week:
HOUSING MARKET BELLWETHER
Economists project that sales of previously occupied homes declined in March from a month earlier.
U.S. home sales surged 11.8% in February, aided by accelerating wages and falling mortgage rates, a combination that’s helped improve affordability. The National Association of Realtors is expected to report on Monday that sales slid to a seasonally adjusted annual rate of 5.35 million last month.
Existing home sales, in millions, seasonally adjusted annual rate:
March (est.) 5.35
Tesla’s latest quarterly results should provide more details into the company’s rocky start to the year.
The electric car maker disclosed earlier this month that it churned out 77,100 vehicles from January to March, well behind the pace it must sustain to fulfill CEO Elon Musk’s pledge to manufacture 500,000 cars annually. Tesla serves up its first quarter results Wednesday.
ON A ROLL
Wall Street expects another strong quarterly snapshot from Amazon.
Financial analysts predict the e-commerce giant will report on Thursday that its first quarter earnings and revenue surged past its results from a year earlier. Amazon has boosted its profits in recent quarters by expanding into businesses such as cloud computing services and advertising.