What to Expect in the Week Ahead (AAPL, MSFT, AMZN, KO)

Moomoo Breakfast US wrote a column · Oct 23, 2022 20:32

What to Expect in the Week Ahead (AAPL, MSFT, AMZN, KO)

It's the thick of third-quarter earnings season, with more than 150 $S&P 500 Index(.SPX.US)$ companies scheduled to report this week. They include the Big tech giants and many industry bellwethers. Economists will be watching for the first official estimate of third-quarter U.S. economic growth following two quarters of contraction to start the year.

$Discover Financial Services(DFS.US)$ will kick off earnings on Monday, followed by a busy Tuesday: $Alphabet-A(GOOGL.US)$, $Microsoft(MSFT.US)$, $3M(MMM.US)$, $Coca-Cola(KO.US)$, $General Motors(GM.US)$, $Texas Instruments(TXN.US)$, $United Parcel Service(UPS.US)$, and $Visa(V.US)$ all report.

On Wednesday, $Meta Platforms(META.US)$, $Boeing(BA.US)$, $Ford Motor(F.US)$, $The Kraft Heinz(KHC.US)$, and $ServiceNow(NOW.US)$ will present results. $Apple(AAPL.US)$, $Amazon(AMZN.US)$, $Comcast(CMCSA.US)$, $Intel(INTC.US)$, $McDonald's(MCD.US)$, $Merck & Co(MRK.US)$, and $T-Mobile US(TMUS.US)$ report on Thursday, then $Chevron(CVX.US)$ and $Exxon Mobil(XOM.US)$ close the week on Friday.

Economic-data highlights this week will include S&P Global's Manufacturing and Services Purchasing Managers' Indexes for October on Monday and and the Bureau of Economic Analysis' personal income and consumption data for September on Friday.

The BEA will also publish its advance estimate of third-quarter U.S. gross-domestic-product growth on Thursday.

Monday 10/24

$Cadence Design Systems(CDNS.US)$ and $Discover Financial Services(DFS.US)$ report quarterly results. S&P Global releases its Manufacturing and Services Purchasing Managers' Indexes for October. Consensus estimates are for a 51.8 reading for the Manufacturing PMI and a 49.7 for the Services PMI. This compares with 52 and 49.5, respectively, in September.

Tuesday 10/25

Big Tech headlines a crucial week of earnings as stocks look to rally into year end. $Alphabet-A(GOOGL.US)$ and $Microsoft(MSFT.US)$ report after the close, followed by $Meta Platforms(META.US)$ on Wednesday, and $Amazon(AMZN.US)$ and $Apple(AAPL.US)$ on Thursday.

$3M(MMM.US)$, $Archer Daniels Midland(ADM.US)$, $Biogen(BIIB.US)$, $Coca-Cola(KO.US)$, $Enphase Energy(ENPH.US)$, $General Motors(GM.US)$, $Novartis AG(NVS.US)$, $Texas Instruments(TXN.US)$, $United Parcel Service(UPS.US)$, and $Visa(V.US)$ release earnings. S&P CoreLogic releases the Case-Shiller National Home Price Index for August.

Wednesday 10/26

$Automatic Data Processing(ADP.US)$, $Boeing(BA.US)$, $Boston Scientific(BSX.US)$, $Bristol-Myers Squibb(BMY.US)$, $Ford Motor(F.US)$, $EQT Corp(EQT.US)$, $The Kraft Heinz(KHC.US)$, and $ServiceNow(NOW.US)$ announce quarterly results.

The Census Bureau reports new residential sales statistics for September. The consensus call is for sales of new single-family homes to come in at a seasonally adjusted annual rate of 588,000. That would be 97,000 fewer than August's 685,000.

Thursday 10/27

$Altria(MO.US)$, $Comcast(CMCSA.US)$, $Gilead Sciences(GILD.US)$, $Intel(INTC.US)$, $MasterCard(MA.US)$, $McDonald's(MCD.US)$, $Merck & Co(MRK.US)$, and $T-Mobile US(TMUS.US)$ hold conference calls to discuss earnings.

The Bureau of Economic Analysis releases its advance estimate of gross-domestic-product growth. Economists forecast a seasonally adjusted annual growth rate of 2.4% for the third quarter. GDP contracted by 1.6% and 0.6% in the first two quarters of the year, meeting one definition of a recession.

Friday 10/28

$AbbVie(ABBV.US)$, $Chevron(CVX.US)$, and $Exxon Mobil(XOM.US)$ report quarterly results. The BEA reports personal income and consumption data for September.

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