Next week will bring a whirlwind of activity in the form of earnings reports. Almost one-third of the S&P 500 companies are set to reveal their third-quarter results. In addition to this, economists and investors will be closely monitoring the latest inflation data and the gross domestic product (GDP) for the third quarter.
Big Players Take the Spotlight
Some of the largest companies in the market will be taking center stage next week. On Tuesday, we can expect earnings reports from Microsoft and Google-parent Alphabet. Wednesday will see Facebook-parent Meta Platforms and Amazon.com announcing their results.
A Full Schedule of Earnings
Tuesday will be a particularly eventful day with a groundswell of earnings announcements. Coca-Cola, General Electric, General Motors, NextEra Energy, Spotify Technology, Verizon Communications, and Visa are all set to reveal their results on that day. Wednesday will bring earnings reports from Boeing, General Dynamics, IBM, and T-Mobile US.
Thursday will see Chipotle Mexican Grill, Comcast, Ford Motor, Intel, Merck, Newmont, Southwest Airlines, and United Parcel Service sharing their quarterly performance. The end of the week, on Friday, will feature earnings reports from Charter Communications, Chevron, and Exxon-Mobil.
Economic Data to Watch
Aside from the earnings reports, there are some key economic data points to keep an eye on. On Thursday, the Bureau of Economic Analysis will release its advance estimate of the third-quarter GDP. Economists predict a real growth rate of 3.6%, an improvement from the second quarter's 2.1%.
Friday will bring us the release of the personal-consumption expenditures price index for September by the Bureau of Labor Statistics. The core PCE, the Federal Reserve's preferred inflation measure excluding food and energy prices, is expected to rise by 3.7% compared to the previous year, slightly slower than August's 3.9%.
Key Dates for Earnings Announcements
To kick off the week on Monday, we have earnings announcements from Cleveland-Cliffs and Logitech.
On Tuesday, the world of Big Tech takes the spotlight with Alphabet and Microsoft announcing their results. Additionally, 3M, Coca-Cola, Corning, Danaher, General Electric, Kimberly-Clark, NextEra Energy, PulteGroup, Sherwin-Williams, Spotify Technology, Verizon Communications, Texas Instruments, and Visa will all be revealing their earnings.
Let the exciting week begin!
General Motors and Big Tech Companies Announce Earnings
General Motors, one of the Detroit Three auto makers, is set to announce its earnings before the opening bell. The United Auto Workers strike has been ongoing, and management may provide an update on the negotiations with the union during the conference call. This strike also affects Ford Motor and Chrysler-parent Stellantis.
Meta, a major Big Tech firm, is expected to release its results after the market closes. Investors will be eager to see how the company has performed.
Other notable companies expected to announce their earnings include Boeing, General Dynamics, T-Mobile US, IBM, and ServiceNow.
Thursday, 10/26
Amazon will wrap up a week of Big Tech earnings with its results, which are anticipated after the market closes. It has been an eventful week for technology companies, and investors will be keeping a close eye on Amazon's performance.
Ford will also release its results and hold a conference call scheduled after the closing bell. This will provide another opportunity to assess the impact of the UAW strikes on the company.
Several other companies, including Shell, Mastercard, Merck, Comcast, Intel, United Parcel Service, Honeywell, Bristol-Myers Squibb, Altria, American Tower, Northrop Grumman, Boston Scientific, Pioneer Natural Resources, Chipotle Mexican Grill, Keurig Dr Pepper, Hershey, Kenvue, Newmont, Royal Caribbean, and Southwest Airlines, are expected to report their earnings as well.
Furthermore, on this day, The Bureau of Economic Analysis will release its advance estimate of third-quarter gross domestic product. Economists predict that real GDP will rise at a 3.6% seasonally adjusted annual rate.
The Commerce Department will also provide new-home sales data for September. Existing-home sales for September have recently fallen to their lowest level since 2010 due to average mortgage rates nearing 8%.
Friday, Oct. 27
Oil majors Chevron and Exxon-Mobil are scheduled to report their financial results before the market opens. These reports will be closely observed by investors in the energy sector.
AbbVie, Sanofi, Colgate-Palmolive, and Charter Communications are also among the companies expected to announce their results on this day.
Additionally, The Bureau of Labor Statistics will release the personal-consumption expenditures price index for September. Core PCE, which excludes food and energy prices and is the preferred inflation gauge by the Federal Reserve, is expected to have risen by 3.7% from a year ago.
