Week ahead: HSBC, BP and SpaceX results due; payrolls in focus

31st Jul 2026 14:46

(Sharecast News) - Among the highlights next week will be the latest US non-farm payrolls report, interim results from HSBC, second-quarter results from BP, a Q2 trading statement from Next and third-quarter results from Disney.

BP and HSBC results will be out on Tuesday, along with half-year results from Smith & Nephew and Convatec. In the US, quarterly results from AMD and Pfizer will be out. Also, Elon Musk's SpaceX will release its first quarterly numbers since becoming a public company.

Victoria Scholar, head of investment at Interactive Investor, said SpaceX is expected to report a second quarter loss per share while total revenue is likely to hit around $6.9bn. "Profits at its Starlink satellite internet division will likely be offset by losses in its rockets business and its heavy AI infrastructure spending," she said.

"Also next week, on Thursday 6 August one of SpaceX's important lock up periods expires, meaning that many pre-IPO investors will be able to start selling their shares," Scholar noted. "This is expected to increase the supply of SpaceX shares in the market, potentially pressurising SpaceX's share price. Further lock-up expiries will take place over the next year."

As far HSBC is concerned, AJ Bell analysts Russ Mould and Danni Hewson said that with the shares trading close to all-time highs and management raising net interest income guidance twice in 2026, the bar is high for earnings to come in higher than expected.

"Peer Standard Chartered recently reported surprisingly good cost discipline, which raises the stakes for HSBC to deliver on its own targeted annual savings programme," they said. "All eyes will be on the bank's core capital buffer to see if further recovery can unlock the self-imposed halt on share buybacks related to the digestion of Hang Seng Bank.

"The recent sale of HSBC Life Insurance Singapore to Allianz signals a broader shift towards a capital-light, fee generating business model."

Wednesday will see the release of half-year results from Legal & General, Glencore and Coca-Cola HBC. Across the pond, Eli Lilly, Walt Disney and Sandisk are slated to report quarterly results.

On Thursday, full-year results from drinks giant Diageo and Imperial Leather maker PZ Cussons will be published, along with half-year results from Tritax Big Box, Harbour Energy, WPP, Serco and Michael Page.

On the macroeconomic front, the latest UK and eurozone PMIs will be out on Wednesday, eurozone retail sales for June will be released on Thursday and Chinese trade data for July on Friday.

Also on Friday, investors will eye the non-farm payrolls report for July, along with average earnings and the unemployment rate.