Wall Street week ahead: Investors’ major focus on earnings from Tesla, Boeing, Verizon, General Motors
On Wall Street in the week ahead, the focus of the investors will be mostly on the earnings reports. The week will see quarter results from high profile companies such as electric vehicle maker Tesla, planemaker Boeing, telecom giant Verizon, industrial heavyweights GE Aerospace and Honeywell.
On the economic data front, market participants will have flash PMI numbers on the manufacturing and the services sectors, durable goods orders, some housing market data, and the Federal Reserve’s Beige Book on regional economic activity.
Several Fed speakers will also remain in focus in the week.
Economic events
On October 23 (Wednesday), data on existing home sales for September and Federal Reserve’s Beige Book report will be released.
On October 24 (Thursday), data on S&P flash US services PMI and S&P flash US manufacturing PMI for October, and new home sales for September will be declared.
On October 25 (Friday), a final report on consumer sentiment for October and data on durable goods orders for September will be released.
Earnings
Following companies are due to report third quarter earnings in the week ahead — Nucor, Logitech, General Electric, Philip Morris, Verizon, Texas Instruments, Lockheed Martin, General Motors, 3M, Tesla, Coca-Cola, T-Mobile, IBM, AT&T, Boeing, Valero, UPS, Honeywell, American Airlines, Northrop Grumman, Southwest Airlines, Dow, Centene, HCA, and Colgate-Palmolive.
US markets last week
US stocks closed the week with more records on Friday.
The S&P 500 rose 23.20 points, or 0.40 per cent, to 5,864.67 points, while the Nasdaq Composite advanced 115.94 points, or 0.63 per cent, to 18,489.55. The Dow Jones Industrial Average gained 36.86 points, or 0.09 per cent, at 43,275.91.
For the week, the S&P 500 gained 0.9 per cent, the Nasdaq Composite advanced 0.8 per cent, and the Dow Jones Industrial Average climbed 1 per cent.
In the bond market, the yield on the 10-year Treasury fell to 4.07 per cent from 4.10 per cent.
