What to Expect in the Week Ahead (GOOGL, MSFT, META Earnings; GDP and Latest Inflation Data)

Moomoo Breakfast US joined discussion · Oct 22, 2023 19:51

What to Expect in the Week Ahead (GOOGL, MSFT, META Earnings; GDP and Latest Inflation Data)

It will be the busiest week of the third-quarter earnings season, with nearly a third of S&P500 companies scheduled to report. Economists and investors will also be watching third-quarter gross domestic product and the latest inflation data.

Earnings reports next week will come from several of the largest companies on the market: $Microsoft(MSFT.US)$ and Google-parent $Alphabet-A(GOOGL.US)$ $Alphabet-C(GOOG.US)$ report on Tuesday followed by Facebook-parent $Meta Platforms(META.US)$ on Wednesday and $Amazon(AMZN.US)$ on Thursday. $Chevron(CVX.US)$ and $Exxon Mobil(XOM.US)$ close the week on Friday.

The economic-data highlights of the week will include the Bureau of Economic Analysis' advance estimate of third-quarter gross domestic product on Thursday. On average, economists see a 4.5% real growth rate in the period, versus 2.1% in the second quarter.

On Friday, the Bureau of Labor Statistics will release the personal-consumption expenditures price index for September. The Federal Reserve's preferred inflation measure—core PCE, which excludes food and energy prices—is forecast to be up 3.7% from a year earlier, slower than August's 3.9%.

Monday, 10/23

$Royal Philips(PHG.US)$ and $Logitech International(LOGI.US)$ announce earnings.

Tuesday, 10/24

Big Tech earnings kick off with results from $Alphabet-A(GOOGL.US)$ $Alphabet-C(GOOG.US)$ and $Microsoft(MSFT.US)$ expected after the market closes.

$Coca-Cola(KO.US)$, $GE Aerospace(GE.US)$, $Verizon(VZ.US)$, $Spotify Technology(SPOT.US)$, $Visa(V.US)$, and $Snap Inc(SNAP.US)$ all announce results.

Wednesday, 10/25

Big Tech firm $Meta Platforms(META.US)$ releases results after the market close.

$Boeing(BA.US)$, $Deutsche Bank(DB.US)$, and $QuantumScape(QS.US)$ are also expected to announce earnings.

Thursday, 10/26

$Amazon(AMZN.US)$ wraps a week of Big Tech earnings with results expected after the market close.

$Ford Motor(F.US)$'s results and conference call, scheduled after the closing bell, will offer another look at the impact of the UAW strikes.

$Merck & Co(MRK.US)$, $Bristol-Myers Squibb(BMY.US)$, $Intel(INTC.US)$, and $Enphase Energy(ENPH.US)$ are among the companies expected to report earnings.

The Bureau of Economic Analysis releases its advance estimate of third-quarter gross domestic product. Economists see real GDP rising at a 4.5% seasonally adjusted annual rate, according to MarketWatch.

Friday, 10/27

Oil majors $Chevron(CVX.US)$ and $Exxon Mobil(XOM.US)$ report financial results Friday before the market opens.

The Bureau of Labor Statistics releases the personal-consumption expenditures price index for September. Core PCE, which strips out food and energy prices and is the inflation gauge favored by the Federal Reserve, is expected to have risen 3.7% from a year ago.

Sectors Performance