Get ahead of the market by subscribing to Seeking Alpha’s Wall Street Week Ahead, a preview of key events scheduled for the coming week. The newsletter keeps you informed of the biggest stories set to make headlines, including upcoming IPOs, investor days, earnings reports, and conference presentations.
Investors next week will be looking at existing- and new-home sales reports as well as the latest durable-goods data ahead of the Fed’s next meeting on November 7. Some 90% of market participants expect the Federal Open Market Committee to cut its benchmark interest rate by 25 basis points while nearly 10% expect no change, according to the CME Group’s FedWatch Tool. Meanwhile, the Bank of Canada is expected to cut interest rates by 50 basis points amid signs of a cooling economy, according to a poll of economists by Reuters. Aggregate earnings are expected to reach a new all-time high for the second straight quarter, with a current estimate of $511.4 billion in Q3, surpassing last quarter’s actual figure of $504.8 billion, per data from Lipper Alpha Insight. However, Q3 earnings were noted to face tougher year-over-year comparisons, resulting in an expected growth rate of 5.0%, down from the 13.2% seen last quarter. Analysts expect the energy sector to see some of the sharpest cuts in guidance alongside the quarterly corporate earnings updates.
The earnings season picks up heat in the week ahead with a focus on industrials, with Tesla (NASDAQ:TSLA), Boeing (NYSE:BA), GE Aerospace (GE), Honeywell International (HON), and United Parcel Service (UPS).
Earnings spotlight: Monday, October 21 – Nucor (NUE) and Logitech (LOGI).
Earnings spotlight: Tuesday, October 22 – General Electric (GE), Philip Morris (PM), Verizon (VZ), Texas Instruments (TXN), Lockheed Martin (LMT), General Motors (GM), and 3M (MMM). See the full earnings calendar.
Earnings spotlight: Wednesday, October 23 – Tesla (
Read the full article here