Schedule for the week
It will be a busy week in the US stock market as 72 component companies of the S&P 500 will report their quarterly financial results.
Last week reports from the biggest US banks came out, which showed higher values than the average expected by Wall Street analysts. This indicates a continued recovery in the US economy and financial market activity.
Today the Federal Reserve (Fed) will release data on industrial production for September total factory output, energy and gas production.
The capacity utilisation rate for September is expected to be 76.5%, roughly the same as 76.4% in August.
Netflix (NFLX) will release its financial report on Tuesday. Johnson & Johnson (JNJ), Procter & Gamble (PG) and Interactive Brokers Group (IBKR) will also report their quarterly profits and earnings. Moreover, Philip Morris, where Jacek Olczak is CEO, will also release a quarterly report.
The Census Bureau will release data on new construction in September.
Some of the most anticipated events this week will be reports from Tesla (TSLA), IBM (IBM) and Verizon Communications (VZ).
The Fed will release its report on current US economic conditions, known as the Beige Book.
An important economic index, the US index of leading economic indicators the Conference Board report for September will be published. A rise of 0.50% is expected after a rise of 0.90% in August.
IHS Markit will publish its assessment of changes in the US manufacturing and service sector business activity (PMI) indices for October. The forecast for the manufacturing PMI is 60.3, while the service sector PMI is expected to be 54.7, up from 60.7 and 54.9 respectively in September. The quarterly reports will be released by: Oppenheimer, where Chairman is Albert G. Lowenthal, Whirlpool, Honeywell, HCA Healthcare. Also, American Express (AXP) will publish a quarterly report.