What will drive the markets this week?
Last week saw stocks in Europe and the US end in weekly gains after a mixed trading week.
Stocks on Wall Street closed higher on Friday to finish the week with gains, with all three major indices rising more than 2% for the day and booking their biggest weekly percentage gains since June. This was after signals in the week that the US federal reserve would consider less aggressive inflation-curbing tactics in their oncoming November meeting and beyond.
US yields eased on Friday with news of a potential slowdown on interest rate hikes by the Fed in December.
Next week could be the busiest of this corporate earnings season. Investors can expect results from some of the world’s largest multinational companies, including tech giants Microsoft and Apple.
The week will also bring a wide array of economic updates, including the advance estimate for third-quarter gross domestic product (GDP) growth. Further updates on the housing market are expected, including August home prices and September new and pending home sales.
Updates on consumer confidence will arrive with the Conference Board’s Consumer Confidence Index (CCI) on Tuesday, along with the University of Michigan’s Consumer Sentiment Index (MCSI) on Friday.
Events expected to influence financial markets in the week
Monday, October 24
- HSBC Holdings (HSBC), Cadence Design Systems (CDNS), Discover Financial Services (DFS), Alexandria Real Estate Equities (ARE), W.R. Berkley Corp. (WRB), Brown & Brown Inc. (BRO), Sun Communities Inc. (SUI), Packaging Corporation of America (PKG), and Crown Holdings Inc. (CCK) report earnings
- Chicago Fed National Activity Index (Sep)
- S&P Global Composite PMI - Flash Estimate (Oct)
Tuesday, October 25
- Microsoft (MSFT), Alphabet (GOOG), Visa (V), The Coca-Cola Company (KO), Novartis (NVS), United Parcel Service (UPS), Texas Instruments (TXN), Raytheon Technologies (RTX), Chubb Ltd. (CB), General Electric (GE), Canadian National Railway (CNI), 3M Company (MMM), Illinois Tool Works (ITW), Scherwin-Williams (SHW), UBS (UBS), Archer-Daniels-Midland (ADM), General Motors (GM), Valero Energy (VLO), Moody’s Corporation (MCO), Centene Corporation (CNC), Chipotle Mexican Grill (CMG), Twitter (TWTR), Kimberly Clark (KMB), Biogen (BIIB), Enphase Energy (ENPH), MSCI Inc. (MSCI), Halliburton (HAL), Ameriprise Financial Services (AMP), Canon Inc. (CAJ), FirstEnergy (FE), and Spotify (SPOT) report earnings
- S&P Case-Shiller National Home Price Index (Aug)
- Freddie Mac House Price Index (Aug)
- CB Consumer Confidence Index (Oct)
Wednesday, October 26
- Meta Platforms (META), Thermo Fisher Scientific (TMO), Bristol-Myers Squibb (BMY), Equinor (EQNR), Automatic Data Processing (ADP), Boeing (BA), ServiceNow (NOW), Waste Management Inc. (WM), Canadian Pacific Railway (CP), General Dynamics (GD), CME Group (CME), Boston Scientific Corp. (BSX), Edwards Lifesciences (EW), Norfolk Southern (NSC), Ford Motor Company (F), O’Reilly Automotive (ORLY), Kraft Heinz (KHC), Banco Santander (SAN), Suncor Energy (SU), Amphenol Corp. (APH), Roper Technologies (ROP), Hess Corporation (HES), KLA Corporation (KLAC), Southern Copper Corporation (SCCO), Hilton Worldwide Holdings (HLT), IQVIA Holdings (IQV), Digital Realty Trust (DLR), Raymond James Financial (RJF), Molina Healthcare (MOH), United Rentals (URI), Arch Capital Group Ltd. (ACGL), Deutsche Bank (DB), and Garmin (GRMN) report earnings
- Goods Trade Balance (Sep)
- Wholesale Inventories (Sep)
- Retail Inventories (Sep)
- New Home Sales (Sep)
Thursday, October 27
- Apple (AAPL), Amazon (AMZN), Mastercard (MA), Merck (MRK), McDonald’s (MCD), Royal Dutch Shell (SHEL), T-Mobile (TMUS), Linde (LIN), Comcast Corp. (CMCSA), TotalEnergies (TTE), Honeywell (HON), Intel (INTC), Starbucks (SBUX), S&P Global (SPGI), Caterpillar (CAT), Petrobras (PBR), Anheuser-Busch (BUD), American Tower Corp. (AMT), Gilead Sciences (GILD), Altria Group (MO), Northrop Grumman (NOC), Vertex Pharmaceuticals (VRTX), The Southern Company (SO), Fiserv (FISV), Pioneer Natural Resources (PXD), Keurig Dr. Pepper (KDP), L3 Harris Technologies (LHX), American Electric Power Co. (AEP), Republic Services (RSG), Takeda Pharmaceutical Co. (TAK), DexCom Inc. (DXCM), Arthur J. Gallagher & Co. (AJG), Capital One Financial (COF), Shopify (SHOP), Pacific Gas & Electric Co. (PCG), Xcel Energy (XEL), Lloyds Banking Group (LYG), Carrier Global (CARR), Baxter International (BAX), Seagen (SGEN), Willis Towers Watson (WTW), T. Rowe Price Group (TROW), CBRE Group (CBRE), DTE Energy (DTE), Southwest Airlines (LUV), VeriSign Inc. (VRSN), Laboratory Corporation of America (LH), LPL Financial Holdings (LPLA), Pinterest (PINS), First Solar (FSLR), Kimco Realty Corp. (KIM), Zendesk (ZEN ), and U.S. Steel Corporation (X) report earnings
- Durable Goods Orders (Sep)
- U.S. GDP Growth Rate - Advance Estimate (Q3 2022)
- Personal Consumption Expenditures (PCE) Prices (Q3 2022)
- Real Consumer Spending (Q3 2022)
- Kansas Fed Composite Index (Oct)
Friday, October 28
- ExxonMobil (XOM), Chevron (CVX), AbbVie (ABBV), NextEra Energy (NEE), Sanofi (SNY), Charter Communications (CHTR), Colgate-Palmolive (CL), Aon (AON), Church & Dwight Co. (CHD), and Gentex Corporation (GNTX) report earnings
- Personal Income and Spending (Sep)
- PCE Price Index (Sep)
- Wage Growth (Q3 2022)
- Pending Home Sales (Sep)
- Michigan Consumer Sentiment Index - Final Reading (Oct)