The focus this week will be on the release of third-quarter reports by S&P 500 companies, indicating a return to earnings growth. Following a busy week that included a Federal Reserve meeting, jobs data, and U.S. Treasury funding announcements, the economic front will take a backseat.
The week kicks off with reports from BioNTech and Constellation Energy on Monday.
Tuesday will see the release of earnings announcements from Devon Energy, D.R. Horton, eBay, Emerson Electric, KKR, Occidental Petroleum, Uber Technologies, and UBS.
Wednesday's Notable News
Wednesday brings a lineup of exciting reports from Kellanova, MGM Resorts International, Roblox, Walt Disney, and Warner Bros. Discovery. Additionally, AstraZeneca and Becton Dickinson will be announcing their results on Thursday.
Key Economic Updates
The economics calendar for the week includes the release of Federal Reserve consumer credit data for September on Tuesday and the University of Michigan's Consumer Sentiment index for November on Friday.
- Constellation Energy
- Coterra Energy
- Diamondback Energy
- NXP Semiconductors
- Realty Income
- Vertex Pharmaceuticals
- Air Products and Chemicals
- Devon Energy
- D.R. Horton
- Emerson Electric
- Fidelity National Information Services
- Gilead Sciences
- Occidental Petroleum
- Uber Technologies
- Zimmer Biomet Holdings
Consumer Credit Data for September
According to the Federal Reserve, consumer credit data for September has been reported. In August, total consumer debt experienced a 3.8% decline at a seasonally adjusted annual rate, amounting to $4.97 trillion. The majority of this decrease was attributed to nonrevolving credit, such as mortgages and auto loans, which experienced a significant decline of 9.8%. On the contrary, revolving credit, primarily consisting of credit card debt, saw a notable increase of 13.8%. This surge in revolving credit can be seen as a reflection of the current state of the housing market, which has experienced a slowdown.
Quarterly Results Reporting
Several companies are set to report their quarterly results on Wednesday. The list includes:
- MGM Resorts International
- Take-Two Interactive Software
- Walt Disney
- Warner Bros. Discovery
Earnings Conference Calls
On Thursday, various companies will be holding conference calls to discuss their earnings reports. The companies scheduled for these calls are:
- Becton Dickinson
- Sony Group
- Trade Desk
- TransDigm Group
- Wynn Resorts
Consumer Sentiment Index Release
The University of Michigan will be releasing its Consumer Sentiment index for November on Friday. The consensus estimate is set at a reading of 63.9, which is expected to be relatively similar to the figure recorded in October. However, this estimate is considerably below historical averages. In October, consumers' expectations for year-ahead inflation reached 4.2%, showing a one percentage point increase from September and marking the highest reading since May.
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