The Week Ahead: Big Bank Earnings, Elon Musk to Speak and March Housing Data 

Closing Bell

Welcome back to closing down China News. Everyone. Let's turn to our segment next week on the street where we take a look at the events. Sure to move markets in the week ahead. A lot on tap earning season kicking into high gear next week with some of the most high profile American businesses, bank earnings on Bank of America, Morgan Stanley Goldman Sachs all set to release results. And aside from banks, we've also got big names like Netflix, Tesla, United and Procter and Gamble set to report in addition to Pharma and consumer giants like Johnson and Johnson. So if we take a look at Tesla, the world's biggest maker reporting a record number of deliveries in the first quarter, more than 422,000 vehicles. But analysts say the company could see a dip in its profits due to those broad price cuts for its vehicles. The record delivery tally boosted by China's reopening and lower prices for materials that are used to make E V batteries. We'll keep an eye on all of these results and bring you the market reaction live from the floor of the New York Stock Exchange next week. Plus Elon Musk said to speak at a major marketing conference on Tuesday. The event is called Possible and it's organized by marketing Trade Association and a global, it's being held this year in Miami from April 17th to the 19th. And NBC Universal Chief Linda Yao is going to interview Musk on the 18 when the T C O will reportedly argue that advertisers who have left the social network should return marketing executives from companies like mcdonald's Colgate also expected to be in the audience and Tuesday will be the day that new tax credit rules take effect the US Treasury Department unveiling the stricter tax rules earlier this month and they will reduce or remove tax credits on some electric vehicles changes aiming to help the US lessen its dependency on China for E V battery supply chains. The new rule is also part of President Biden's goal of making 50% of new vehicles sold in the country or plug in hybrids. By 2030. The US government is going to publish on Wednesday, a revised list of vehicles that qualify for tax credits with updated amounts. We're also going to get some key economic data from the struggling housing sector next week. As data on new home construction comes out on Tuesday on Thursday. We'll get existing home sales both of these for the month of March sales of previously owned homes spiking nearly 15% in February after 12 straight months declines and the first time in 131 months, median home price is actually dropping year on year. Well, there are still some major headwinds with the 30 year fixed mortgage rate at its highest level in about 15 years due to those higher interest rates.