After a hectic week full of big earnings reports, an AI summit, robotaxis and important inflation data, the week ahead will be shorter but still significant.
This is what’s on the agenda for the coming week.
Is the stock market closed on Columbus Day?
No, the New York Stock Exchange (ICE) and the Nasdaq (NDAQ) will remain open on Monday for Columbus Day, also known as Indigenous Peoples’ Day.
But the bond markets will be closed.
Large banking income
Several major banks and financial institutions will announce their quarterly results, which will provide valuable insights into their performance and broader economic trends. Goldman Sachs (GS), Bank of America (BAC) and Citigroup (C) will start the week Tuesday with their earnings reports, which will shed light on how well these financial giants have weathered recent market volatility.
Discover Financial Services (DFS) and Citizens Financial Group (CFG) will reveal their financial health on Wednesday, taking a closer look at consumer lending trends and the performance of regional banks. Earnings from Morgan Stanley (MS), Blackstone (BX) and M&T Bank Corporation (MTB) will follow on Thursday, providing insight into the investment banking, private equity and regional banking sectors. Finally, the week ends on Friday with American Express’s (AXP) reporting on its profits.
Netflix and other major revenues
On Tuesday, Johnson & Johnson (JNJ), UnitedHealth Group (UNH) and Walgreens (WBA) will release their earnings reports before the opening bell, offering a glimpse into the healthcare and insurance industries. The spotlight shifts to technology and travel on Thursday, as Taiwan Semiconductor Manufacturing Company (TSM), Netflix (NFLX), American Airlines (AAL) and Alaska Airlines (ALK) will release their financial report cards.
Macroeconomic data to watch
While this week won’t bring any blockbuster macroeconomic reports, several key indicators will still provide valuable insights into the health of the U.S. economy. The import price index for September will be published on Wednesday, providing a glimpse into the inflationary pressures of imported goods.
The first jobless claims on Thursday will provide an updated snapshot of the U.S. labor market. The release of US retail sales data will shed light on consumer spending patterns, a key driver of economic growth. Industrial production data will provide insights into industrial production and factory operations across the country. Furthermore, homebuilder confidence in October will be a bellwether for the health of the housing market, providing an outlook for construction activity and the broader real estate sector.
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