Seventy-two S&P 500 companies report earnings this week, as third-quarter earnings season ramps up. Several big U.S. banks got things off to a strong start last week. This week’s earnings highlights will include results from notable companies in telecom, consumer staples, energy, technology, health care, and the airline industry.
Albertsons and State Street get the ball rolling on Monday.Procter & Gamble,Halliburton,and Johnson & Johnson are Tuesday morning’s highlights, followed by Netflix and United Airlines Holdings after the market closes.
On Wednesday,Verizon Communications,IBM,and Tesla will get the most attention.AT&T, American Airlines Group,Southwest Airlines,and Chipotle Mexican Grill report on Thursday, then American Express,Schlumberger,and Honeywell International close the week on Friday.
Economic data highlights this week include the Conference Board’s Leading Economic Index for September on Thursday and IHS Markit’s Manufacturing and Services Purchasing Managers’ indexes for October on Friday. All are seen easing back from their prior months’ levels.
Other releases this week include the Federal Reserve’s most recent Beige Book, describing economic conditions across the U.S., and a pair of September housing-market indicators: The Census Bureau reports new residential construction data on Tuesday and the National Association of Realtors reports existing-home sales on Thursday.
Monday 10/18
The Federal Reserve releases industrial production data for September. Economists are looking for a 0.20% rise after a 0.4% increase in August. Capacity utilization is expected at 76.5% for September, roughly in line with August’s 76.4%.
Albertsons, Philips, Steel Dynamics, and State Street are among companies releasing quarterly financial results.
Tuesday 10/19
The Census Bureau reports new residential construction data for September. Economists forecast a seasonally adjusted annual rate of 1.623 million housing starts, compared with 1.615 million in August.
Halliburton, Procter & Gamble, Johnson & Johnson, Synchrony, Travelers, Philip Morris International, Kansas City Southern, WD-40, Interactive Brokers Group, Netflix, ManpowerGroup, Dover, and Canadian National Railway are among companies hosting earnings conference calls.
Wednesday 10/20
The Federal Reserve releases its beige book about current economic conditions across the central bank’s 12 districts.
Abbott Laboratories, Biogen, NextEra Energy, ASML Holding, Nasdaq, Canadian Pacific Railway, Verizon Communications, CSX, Lam Research, Tesla, IBM, and Anthem discuss quarterly financial results.
Thursday 10/21
The National Association of Realtors reports existing-home sales for September. Economists forecast a seasonally adjusted annual rate of 6.10 million homes sold, compared with 5.88 million homes in August.
Dow, Freeport-McMoRan, Genuine Parts, Southwest Airlines, Valero Energy, Blackstone, Quest Diagnostics, Snap-on, Tractor Supply, Barclays, Danaher, AT&T, Nucor, American Airlines Group, AutoNation, Valero Energy, SL Green Realty, Intel, Snap, Boston Beer, Mattel, and Chipotle Mexican Grill host earnings conference calls to discuss quarterly results.
The Philadelphia Fed diffusion index, a measure of overall manufacturing activity, is expected to fall to 24 in October from September’s 30.7 reading.
The Conference Board releases its Leading Economic Index for September. Expectations are for a 0.50% rise, after August’s 0.90% gain.
Friday 10/22
IHS Markit releases the Manufacturing and Services Purchasing Managers’ indexes for October. Consensus estimate for the Manufacturing PMI is 60.3, while the Services PMI is expected to be 54.7, compared with 60.7 and 54.9, respectively, in September.
Whirlpool, Honeywell, Cleveland-Cliffs, Celanese, HCA Healthcare, Schlumberger, Seagate Technology Holdings, VF Corp., and American Express host investor conference calls.