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By Kathy Shwiff Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Four components of the Dow Jones Industrial Average and 135 other companies in the Standard & Poor's 500 Index are scheduled to report quarterly results next week. Economists expect a government report next week to show new-home sales increased 13% in June. Meanwhile, the S&P/Cash-Shiller Home Price Index will detail May home prices in major areas around the U.S. The U.S. House may vote as early as next week on legislation that tightens regulations of offshore drilling. Oil Giants Benefit From Refining Margins Profits of major U.S. oil companies are expected to climb on improved refining margins, which benefited from a stronger demand for fuel in the second quarter. Exxon Mobil Corp. (XOM), the world's largest publicly traded oil company, reports Thursday. Some investors worry that its $25 billion purchase of U.S. natural gas producer XTO Energy Inc. has diluted earnings per share and return on capital employed. ConocoPhillips (COP) reports Wednesday and Chevron Corp. (CVX) is due next Friday. BP To Report Results, Won't Detail Probe BP PLC (BP, BP.LN) will publish its second-quarter results Tuesday, and analysts expect the oil giant to address many of their concerns about how much the spill in the Gulf of Mexico will cost BP and how it will pay for it. Press reports have suggested the company would release preliminary results from its investigation into the causes of the explosion aboard the Deepwater Horizon drilling rig that triggered the three-month-long oil spill, but a spokesman said BP will not do so. The company expects its investigation to conclude in September or October. Boeing Results Likely To Be Down From Year-Ago Aerospace giant Boeing Co. (BA), which reports Tuesday, is expected to post worse results than a year earlier as investors look for an update on the 787 Dreamliner jet, which Boeing this month said could see its first delivery delayed to next year on continued testing supply-chain issues. Also reporting are defense contractors Lockheed Martin Corp. (LMT) on Tuesday, General Dynamics Corp. (GD) on Wednesday, and Raytheon Co. (RTN) and Northrop Grumman Co. (NOC), both Thursday. They all face challenges amid slowing U.S. defense spending. Life Insurers Results Seen Improving Life insurers Aflac Inc. (AFL) and MetLife Inc. (MET), which report results Tuesday and Thursday, respectively, both are expected to show improved earnings. Aflac is expected to discuss its exposure to European sovereign debt while MetLife, the largest U.S. life insurer, could detail its agreement to buy Alico, an international insurance operation, from American International Group Inc. (AIG) for $15.5 billion. Also reporting are health insurers WellPoint Inc. (WLP) and Aetna Inc. (AET), Wednesday morning and Tuesday night, respectively. They may discuss effects of the health-care reform legislation passed this spring. Exchanges Nasdaq, CME See Rise In Trading Stock exchange Nasdaq OMX Group Inc. (NDAQ), which reports Tuesday, is seen reporting slightly better earnings on flat revenue, while CME Group Inc. (CME), which reports Thursday, is expected to show significantly better results. The world's biggest futures exchange operator has already said the second quarter was its second-busiest ever in terms of daily trading activity thanks to an all-time record in May, likely helped by the historic May 6 crash and resulting market volatility. Increase Expected In June New-Home Sales The annual rate of new-home sales likely edged higher in June, project analysts surveyed by Dow Jones, after a one-third plunge from April to May following the expiration of a federal tax credit. The figure, to be released Monday, is seen rising to 313,000 from the initial report of 300,000 for May. On Thursday, the National Association of Realtors said June sales of existing homes were running at a seasonally adjusted annual pace of 5.4 million, down 5.1% from May but up 9.8% from a year earlier. The S&P/Case-Shiller index, due Tuesday, will detail home prices for May. The index showed prices rose in April from a month earlier after falling for six straight months before that. A 3.8% increase on-year is forecasted for May for the reading's 20-city index. Also, the U.S. government will issue its first look at second-quarter gross domestic product next Friday--it could show the economy grew 2.5%, down from the first quarter's 2.7% annual rate. Among other economic data, the final reading on the Reuters/University of Michigan consumer sentiment index for July will be out next Friday. The government will detail June sales of durable goods Wednesday, and reports on manufacturing activities in Texas, Chicago and Kansas City will be out Monday, Tuesday and Thursday, respectively. The Federal Reserve will release its Beige Book, with describes economic activity in 12 regions, on Wednesday. FDA Panel To Review Medtronic Spine Device An advisory committee of the Food and Drug Administration on Tuesday will review a Medtronic Inc. (MDT) spine device using a protein designed to promote bone growth. On Friday, the agency said it was concerned about a higher number of cancer cases seen among patients treated with a spine device known as Amplify. Medtronic is seeking FDA approval of the device, which is designed to stabilize vertebrae in the lower back in patients with degenerative disc disease. House Could Vote On Drilling Limits Bill The House is expected to vote as early as next week on legislation that tightens regulations of offshore drilling, formally restructures the agency that regulates such drilling, and removes the cap on economic damages paid to residents and small businesses by oil companies after oil spills. House Democratic leaders plan to remove some controversial features from the legislation to improve its chances of passage, a senior House Democrat said Thursday. A day earlier, a top House Democrat expressed confidence that a measure that would effectively ban BP from winning new offshore oil exploration licenses would be included in the bill. Bill To Create Manufacturing Plan Before House The House also is expected to vote by the end of next week on legislation that would require the president to create a four-year national manufacturing strategy to advance the country's interests in the global economy. The act would require the president to conduct a comprehensive analysis of the country's manufacturing sector. The results would yield a four-year strategy that would include long- and short-term goals for the country's manufacturing businesses. The national strategy would be reported to Congress and made available to the public. House Ethics Panel To Try Rangel Next Week U.S. House investigators have laid out a series of ethics accusations against Democratic Rep. Charles Rangel, and he will have the opportunity to defend himself at a public trial before the House ethics committee beginning next week, according to a statement Thursday from the panel, formally known as the House Committee on Standards of Official Conduct. If found guilty, Rangel, the once-powerful tax-writer who is one of the most senior members of Congress, could be expelled from office or face a lesser sanction such as admonishment. Senate Panel Hearing On Lockerbie Release Scotland's government has rebuffed a request by a U.S. Senate committee to send two Scottish officials to testify at a hearing Thursday that will explore the country's release last summer of the convicted Lockerbie bomber amid allegations that BP may have influenced the decision. The Senate has also invited BP Chief Executive Tony Hayward, BP Special Adviser Mark Allen and former U.K. Justice Secretary Jack Straw to testify. The Senate intends to explore Scotland's decision last summer to release former Libyan security agent Abdel Baset al-Megrahi. Scotland, the U.K. and BP have all said the oil company played no part in the decision to release Megrahi. Arizona Immigration Law Effective Thursday Arizona's contentious illegal-immigration law is scheduled to take effect Thursday. Lawyers representing the Obama administration argued in federal court this week that the law would violate the U.S. Constitution by usurping federal authority over immigration, an assertion denied by attorneys for Gov. Jan Brewer. In a separate hearing, the American Civil Liberties Union and a coalition of civil-rights groups argued against the law, which requires police to question people they stop about their immigration status if "reasonable suspicion" exists that they are in the country illegally. It also makes it a state crime to be in the U.S. illegally. Blagojevich Trial Could Be Over Next Week Closing arguments are expected to start Monday morning in the federal corruption trial of former Illinois Gov. Rod Blagojevich after his attorneys rested their case Wednesday without putting their client on the stand. That cut short what had been expected to be weeks of testimony by a parade of potential star witnesses. Since federal agents arrested Blagojevich in December 2008, he had promised repeatedly and publicly that he would testify in his defense and clear his name. The former governor faces 24 counts, including attempting to sell the U.S. Senate seat vacated by President Barack Obama. His brother, Robert Blagojevich, faces five counts, including attempted extortion and wire fraud. Both brothers, who were tried in tandem, have pleaded not guilty. Conferences (MORE TO FOLLOW) Dow Jones Newswires July 23, 2010 14:30 ET (18:30 GMT)