What will drive the markets this week?
Last week was one of the more volatile trading weeks in recent months. On Friday, US stocks fell while stocks in Europe and Asia ended higher. Stocks on Wall Street gave away morning trading gains to end the day lower following a consumer survey from the University of Michigan showing inflation expectations were increasing.
In Europe, stocks ended the day higher, having lost some gains from earlier trading following the U.K. government’s U-turning on some of its controversial fiscal policies and the country’s finance minister, Kwasi Kwarteng fired.
This week, the Biden administration plans to take new steps to lower gasoline prices and is reportedly considering releasing more oil from the Strategic Petroleum Reserve and imposing limits on exports of energy products.
Corporate earnings season enters one of its busiest weeks starting on Monday, with a more big bank and financial earnings due from Bank of America, Charles Schwab, Goldman Sachs, and Barclays. Other companies due to report results will include Johnson & Johnson, Lockheed Martin, IBM, Netflix, United Airlines, American Airlines, Procter & Gamble, and Tesla. The latest updates on the U.S. housing market, including September housing starts, building permits, and existing home sales will become available. Investors can also expect vital inflation reading from the U.K.
Monday, October 17
- Bank of America (BAC), Charles Schwab (SCHW), Bank of New York Mellon (BK), Equity Lifestyle Properties (ELS), and Zions Bancorp (ZION) report earnings
- New York Empire State Manufacturing Index (Oct)
Tuesday, October 18
- Johnson & Johnson (JNJ), Lockheed Martin (LMT), Netflix (NFLX), Intuitive Surgical (ISRG), Truist Financial (TFC), State Street Corp. (STT), J.B. Hunt (JBHT), Albertsons Companies (ACI), First Horizon Corp. (FHN), United Airlines (UAL), Hasbro Inc. (HAS), Signature Bank (SBNY), Interactive Brokers Group (IBKR), Pinnacle Financial Partners (PNFP), and Hancock Whitney Corp. (HWC) report earnings
- NAHB Housing Market Index (Oct)
- Industrial Production (Sep)
- Eurozone ZEW Economic Sentiment Index (Oct)
Wednesday, October 19
- Tesla (TSLA), Procter & Gamble (PG), Abbott Laboratories (ABT), NextEra Energy (NEE), Elevance Health (ELV), IBM (IBM), Prologis (PLD), Crown Castle (CCI), Lam Research Corp. (LRCX), Kinder Morgan (KMI), The Travelers Companies (TRV), Biogen (BIIB), M&T Bank (MTB), Nasdaq Inc. (NDAQ), Las Vegas Sands (LVS), Baker Hughes (BKR), Equifax (EFX), Northern Trust Corp. (NTRS), Citizens Financial Group (CFG), Steel Dynamics (STLD), Ally Financial (ALLY), Knight Transportation Inc. (KNX), and Alcoa Corporation (AA) report earnings
- Housing Starts (Sep)
- Building Permits (Sep)
- U.K. Inflation Rate (Sep)
- Fed Beige Book Release
Thursday, October 20
- Danaher (DHR), Philip Morris International (PM), Union Pacific (UNP), AT&T (T), Marsh & McLennan Cos. (MMC), Blackstone Inc. (BX), CSX Corp. (CSX), ABB Ltd. (ABB), Freeport-McMoran (FCX), Dow Inc. (DOW), Nucor Corp. (NUE), Barclays PLC (BCS), Nokia (NOK), Tractor Supply Co. (TSCO), SVB Financial Group (SIVB), Snap Inc. (SNAP), Quest Diagnostics (DGX), Robert Half International (RHI), Webster Financial Corporation (WBS), American Airlines (AAL), Whirlpool Corp. (WHR), and Crocs Inc. (CROX) report earnings
- Existing Home Sales (Sep)
- Philadelphia Fed Manufacturing Index (Oct)
Friday, October 21
- Verizon (VZ), American Express (AXP), Goldman Sachs (GS), Schlumberger (SLB), HCA Healthcare (HCA), Regions Financial Corp. (RF), and Autoliv (ALV) report earnings
- Eurozone Consumer Confidence - Flash Estimate (Oct)