What will drive the markets this week?
Stocks closed higher last week with major US indices registering their best week since July as investors remained optimistic over prospects for another round of fiscal stimulus from Congress and the prospects of a Biden lead.
This week, several big-name companies are set to make headlines as the third-quarter U.S. corporate earnings reporting season gets underway. Major banks such as J.P. Morgan’s, Bank of America, Goldman Sachs, Citigroup, and Wells Fargo are set to report earnings.
Apple will also host an event on Tuesday morning that will include an announcement of the iPhone 12 while Amazon Prime Day which is expected to jumpstart holiday shopping starts this week. Here’s a look at other events that will drive the market this week.
Monday, October 12:
U.K. Bank of England Governor Bailey Speaks China Trade Balance report
Tuesday, October 13:
- Earnings Reports: Johnson & Johnson (JNJ), JPMorgan Chase (JPM), Citigroup (C), BlackRock (BLK), Delta Air Lines (DAL), Charles Schwab (SCHW)
- Germany Final Consumer Price Index (m/m)
- Germany ZEW Economic Sentiment
- U.K. Unemployment Rate
- U.K. Average Earnings Index (3m/y)
- U.K. Claimant Count Change
- U.S. NFIB Small Business Index
- U.S. Consumer Price Index and Core CPI (m/m)
Wednesday, October 14:
- Earnings Reports: UnitedHealth (UNH), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), U.S. Bancorp (USB), Progressive (PGR), PNC Financial Services (PNC), United Airlines (UAL)
- Eurozone Industrial Production (m/m)
- U.S. Producer Price Index and Core PPI (m/m)
- China Consumer Price Index (y/y)
- China Producer Price Index (y/y)
Thursday, October 15:
- Earnings Reports: Honeywell (HON), Morgan Stanley (MS), Intuitive Surgical (ISRG), Trust Financial (TFC), Atlassian (TEAM), Walgreens Boots Alliance (WBA)
- Canadian ADP Non-Farm Employment Change
- U.S. Philly Fed Manufacturing Index
- U.S. Unemployment Claims
- U.S. Empire State Manufacturing Index
- U.S. Import Prices (m/m)
- U.S. Natural Gas Storage
- U.S. Crude Oil Inventories
Friday, October 16:
- Earnings Reports: The Bank of New York Mellon (BK), VF Corporation (VFC), Schlumberger (SLB), State Street (STT), JB Hunt Transport (JBHT), Ally Financial (ALLY)
- Eurozone Final Consumer Price Index and Final Core CPI (y/y)
- Eurozone Trade Balance
- Canada Manufacturing Sales (m/m)
- U.S. Retail Sales and Core Retail Sales (m/m)
- U.S. Industrial Production (m/m)
- U.S. University of Michigan Consumer Sentiment
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