Wall Street will enter Friday’s trading session with attention centered on a fresh round of corporate earnings and an important housing market report. Quarterly results from Verizon and American Express are expected to provide valuable insight into consumer behavior, telecommunications demand, and the broader health of the U.S. economy, while new home sales data will offer another gauge of residential real estate activity amid elevated mortgage rates.

Together, these releases could help shape investor expectations for economic growth and corporate earnings during the second half of the year.

Verizon Earnings to Test Wireless Growth Strategy

Investors will closely examine Verizon’s quarterly report for signs that recent operational improvements are continuing.

The company recorded its first positive postpaid phone net additions in more than a decade during the previous quarter, marking an important milestone in its efforts to strengthen customer growth in the highly competitive U.S. wireless market.

Market participants will focus on subscriber additions, wireless service revenue, and management’s outlook to determine whether Verizon can sustain recent momentum. Commentary surrounding network investments, customer retention, and pricing strategies will also be closely monitored.

Strong subscriber growth could reinforce confidence that Verizon’s strategic initiatives are gaining traction despite ongoing competitive pressures.

American Express Offers Window Into Consumer Spending

American Express is also scheduled to report quarterly earnings, with analysts forecasting approximately 9% year-over-year growth in billed business.

Beyond headline financial results, investors will be paying close attention to spending patterns across the company’s cardholder base as an indicator of consumer confidence and discretionary spending.

Management commentary regarding travel demand, premium customer activity, credit quality, and loan performance will be particularly important as markets assess whether consumers remain resilient despite higher borrowing costs and persistent inflationary pressures.

Any changes in provisions for credit losses or customer payment trends could influence expectations for the broader financial sector.

Housing Data Expected to Show Modest Recovery

Alongside corporate earnings, investors will receive updated figures on U.S. new home sales for June.

Economists expect sales to increase to a seasonally adjusted annual rate of approximately 606,000 units, representing a 4.7% increase from May following the previous month’s decline.

The report will provide another measure of housing demand as homebuilders continue to navigate elevated mortgage rates, affordability challenges, and limited inventory. A stronger-than-expected reading could signal continued resilience in residential construction, while weaker results may reinforce concerns that higher financing costs continue to weigh on homebuyer activity.

Looking ahead, Friday’s combination of earnings and economic data could influence broader market sentiment heading into the following week. Investors will evaluate whether consumer spending remains healthy, whether corporate fundamentals continue to support elevated equity valuations, and whether the housing market is showing signs of stabilization despite a challenging interest rate environment.