Last week, we saw a fair amount of green in the market, with the S&P up 0.20%, the Dow up 1.05%, the Russell up 1.96%, and the Nasdaq actually down 0.28% on a week over week basis. Overall, we saw a mixed bag in terms of earnings releases, and quite a bit of buying power flowed into small caps, pushing up the Russell. However, we’re not nearly out of the woods yet, as we still have some incredibly busy weeks ahead of us, especially in terms of earnings releases.
Unfortunately, over the course of the last week, there weren’t many notable economic data releases. The few that we did have came roughly in line with expectations, with no particular causes for concern or excitement. We’ll see a bit more of the same this week. However, earnings season will create more than enough excitement for the markets!
This week will still be rather slow in terms of economic data. We kick the week off on Wednesday with existing home sales, followed by new home sales on Thursday. Lastly, on Friday, we’ll receive the final numbers for October in terms of consumer sentiment. Although this week is slow, next things really pick back up. In addition to important earnings releases, we’ve got some incredibly important economic data coming out!
This week, we have a tremendously busy week in terms of earnings releases. We’ll be hearing from some of the largest companies in the world, including:
10/21 – SAP SE (SAP), HDFC Bank Limited (HDB), Nucor Corporation (NUE), W.R. Berkley Corporation (WRB), Logitech International (LOGI)
10/22 – GE Aerospace (GE), Danaher Corporation (DHR), Philip Morris International (MP), Verizon Communications (VZ), Texas Instruments (TXN), RTX Corporation (RTX), Lockheed Martin Corporation (LMT), Fiserv (FI), Sherwin-Williams (SHW), Moody’s Corporation (MCO), 3M Company (MMM), Spotify Technology (SPOT), Canadian National Railway (CNI), PACCAR (PCAR), Norfolk Southern Corporation (NSC), General Motors (GM), Kimberly-Clark (KMB), Baker Huges (BKR)
10/23 – Tesla (TSLA), Coca-Cola (KO), T-Mobile US (TMUS), Thermo Fisher Scientific (TMO), International Business Machines (IBM), Lloyds Banking (LYG), ServiceNow (NOW), NextEra Energy (NEE), AT&T (T), Boston Scientific (BSX), Boeing Company (BA), Lam Research (LRCX), General Dynamics (GD)
10/24 – Amazon.com (AMZN), S&P GLobal (SPGI), Union Pacific (UNP), Honeywell International (HON), United Parcel Service (UPS), Northrop Grumman (NOC), Carrier Global (CARR), Equinor (EQNR), Capital One Financial (COF), Keurig Dr Pepper (KDP), Barclays (BCS)
10/25 – Sanofi (SNY), Colgate-Palmolive (CL)
This week, all eyes will be on AMZN and TSLA. These tech giants will set the stage for the rest of the big tech companies that will be reporting their earnings in the coming weeks. It’ll be important to pay attention to what the CEOs of these giants have to say, as they will certainly influence the broader market!
Monitoring the market conditions this week.
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