Weekly market recap
Stock futures edged lower in overnight trading Sunday after the Dow Jones Industrial Average notched its third positive week in a row at a record high.
Wall Street is coming off a winning week on the back of strong corporate earnings. The blue-chip $Dow Inc(DOW.US)$ gained more than 1% last week and closed Friday at a record. The $S&P 500 Index(.SPX.US)$ rallied 1.7% last week, also posting its third straight positive week and hitting an all-time high Friday.
Of the 117 companies in the S&P 500 that have reported earnings to date, 84% posted numbers that beat expectations, according to Refinitiv. S&P 500 companies are expected to grow profit by about 35% in the third quarter.
Here's a look at the return of S&P 500 sectors
This week ahead in focus
Some of the biggest technology companies are slated to report earnings this week, including $Facebook(FB.US)$, $Alphabet-C(GOOG.US)$, $Microsoft(MSFT.US)$, $Amazon(AMZN.US)$ and $Apple(AAPL.US)$. A third of the Dow companies also is set to release quarterly results this week, including $Caterpillar(CAT.US)$, $Coca-Cola(KO.US)$, $Boeing(BA.US)$ and $McDonald's(MCD.US)$.
Economists and Fed watchers will also be paying attention on Wednesday, when the minutes from the Federal Open Market Committee September meeting will be released. Finally, the annual meetings of the World Bank Group and the International Monetary Fund will run virtually all week.
Economic data out this week includes the Conference Board's Consumer Confidence Index for October on Tuesday, the Census Bureau's durable-goods report for September on Wednesday, and the Bureau of Economic Analysis' preliminary estimate for third-quarter GDP on Thursday.
Economists' consensus estimate is for a seasonally adjusted annual growth rate of 4%, after the economy grew 6.7% in the second quarter.
Monday 10/25
Mega-cap tech companies headline the week's quarterly results starting with Facebook, which reports after the close. Alphabet and Microsoft follow on Tuesday, and Amazon.com and Apple on Thursday.
$Cadence Design Systems(CDNS.US)$, $Kimberly-Clark(KMB.US)$, and $Otis Worldwide(OTIS.US)$release quarterly results.
Tuesday 10/26
$3M(MMM.US)$, $Advanced Micro Devices(AMD.US)$, $Ameriprise Financial(AMP.US)$, $Capital One Financial(COF.US)$, $Chubb Ltd(CB.US)$, $Ecolab(ECL.US)$, $Eli Lilly and Co(LLY.US)$, $GE Aerospace(GE.US)$, $Hasbro(HAS.US)$, $Invesco(IVZ.US)$, $Lockheed Martin(LMT.US)$, $MSCI Inc(MSCI.US)$, $Novan Inc(NOVN.US)$, $RTX Corp(RTX.US)$, $S&P Global(SPGI.US)$, $Sherwin-Williams(SHW.US)$, $Texas Instruments(TXN.US)$, $Twitter (Delisted)(TWTR.US)$, $United Parcel Service(UPS.US)$, and $Visa(V.US)$ report earnings.
The Census Bureau reports sales of new single-family houses for September. Consensus estimate is for a seasonally adjusted annual rate of 775,000 homes sold, 35,000 more than the August figure.
The Conference Board releases its Consumer Confidence Index for October. Expectations are for a 110 reading, similar to the September data. The index is 15% lower than its recent peak in June, with concern about the spread of the Delta variant and inflation dampening consumer optimism.
S&P CoreLogic releases its Case-Shiller National Home Price Index for August. Economists forecast a 20% year-over-year rise, a tick higher than July's 19.7% increase. If that estimate proves correct, it would be the fifth consecutive monthly record gain for the index.
Wednesday 10/27
$Automatic Data Processing(ADP.US)$, Boeing, $Bristol-Myers Squibb(BMY.US)$, $CME Group(CME.US)$, Coca-Cola, $eBay(EBAY.US)$, $Ford Motor(F.US)$, $General Dynamics(GD.US)$, $General Motors(GM.US)$, $Hilton Worldwide(HLT.US)$, $International Paper(IP.US)$, $The Kraft Heinz(KHC.US)$, McDonald's, $Norfolk Southern(NSC.US)$, $Old Dominion Freight Line(ODFL.US)$, $ServiceNow(NOW.US)$, $Spotify Technology(SPOT.US)$, and $Thermo Fisher Scientific(TMO.US)$ release quarterly results.
The Census Bureau releases the durable-goods report for September. New orders for manufactured durable goods are expected to decline 0.5% month over month to $262 billion, after a 1.8% gain in August. Excluding transportation, new orders are seen rising 0.8%, above August's 0.3% gain.
Thursday 10/28
$Altria(MO.US)$, $American Tower Corp(AMT.US)$, Caterpillar, $Comcast(CMCSA.US)$, $Gilead Sciences(GILD.US)$, $Intercontinental Exchange(ICE.US)$, $MasterCard(MA.US)$, $Merck & Co(MRK.US)$, $Moody's(MCO.US)$, $Newmont(NEM.US)$, $Northrop Grumman(NOC.US)$, $Sanofi(SNY.US)$, $Shopify(SHOP.US)$, $Starbucks(SBUX.US)$, and $Yum! Brands(YUM.US)$ hold conference calls to discuss earnings.
The Bureau of Economic Analysis reports its preliminary estimate for third-quarter GDP. Consensus estimate is for a seasonally adjusted annual growth rate of 4%, after the economy grew 6.7% in the second quarter.
Friday 10/29
$AbbVie(ABBV.US)$, $Cboe Global Markets(CBOE.US)$, $Charter Communications(CHTR.US)$, $Chevron(CVX.US)$, $Colgate-Palmolive(CL.US)$, $Exxon Mobil(XOM.US)$, $L3Harris Technologies(LHX.US)$, and $Weyerhaeuser Co(WY.US)$ report quarterly results.
Source: CNBC, Barron's

[Rewards Calling] Facebook's name change can't fix anything!
$Facebook(FB.US)$ plans to change its company name next week to reflect its focus on metaverse. But why would a famous company change its name suddenly? How about replacing the CEO? $Apple(AAPL.US)$ would never change its name to Banana, right?
I guess Facebook wants to escape from its recent reputational damage. I still remember its hours-long outage, scrutiny from Congress and criticism from the public. These can't be fixed by a name change. I would definitely put my money into other mega-cap tech stocks like Apple, $Microsoft(MSFT.US)$, $Amazon(AMZN.US)$ and $Alphabet-A(GOOGL.US)$ rather than Facebook!
But anyway, how would you rename Facebook if you were Zuckerberg? Are you positive about Facebook and why?
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$Apple(AAPL.US)$ There is so much information in the stock market that it changes from minute to minute. It is impossible to learn everything completely, so learn every day as a beginner. Will not earn a small loss, never turn over! The last thing I want to say to marketing teacher is "thank you very much"! The reason is that the market teacher taught me the attitude of life! Learn with an open mind!

The stock market applauded a jobs report today that showed strong payrolls but with concerns enough to keep the Fed reticent to taper just yet, starting the 'Independence Day' week trading session on an up note.
All three major indices had drifted higher into the labor report and Friday's movement sealed a second-straight week of gains for all of them. $S&P 500 Index(.SPX.US)$+0.75%, $Nasdaq Composite Index(.IXIC.US)$+0.81%, $Dow Jones Industrial Average(.DJI.US)$