Schedule for the week
This week the stock markets will be awaiting a slew of reports from major US companies. Investors should pay attention to reports from Apple, Microsoft, Amazon, Google and Facebook as they will affect the general market mood.
It is the season of financial reporting for companies that continues this week. The richest US corporations, with the highest market value, are reporting their sales and profits, which boosts share price and overall market sentiment.
Two weeks earlier US banks came out reporting results on the back of an economic recovery.
As for reports from Alphabet's Google (GOOGL GOOG and Facebook (FB investors got a wake-up call on their future ad sales. Snap (SNAP) last week said it missed out on $3m in revenue due to Apple's changes to user privacy rules in iOS, problems with global supply chains and lower marketing spend from advertisers.
In addition, important economic data were released this week, such as:
- Tuesday Conference Board consumer confidence index for October.
- On Tuesday, the US Census Bureau will report new private home sales for September.
- On Wednesday, the US Durable Goods Orders report for September.
- Thursday: The Bureau of Economic Analysis' preliminary estimate of US GDP for the third quarter.
Facebook (FB) will release its quarterly results after the close of trading. Facebook's revenue and profit statistics for the last 4 quarters show a strong rise in analysts' forecasts, but on the back of a disappointing Snap report, Facebook shares fell 5% last week.
Alphabet (GOOGL), Microsoft (MSFT) and Twitter (TWTR) report quarterly earnings on Tuesday after trading hours. Visa (V) General Electric (GE) United Parcel Service (UPS) 3M (MMM) chipmaker AMD (AMD) whose shares jumped 12.9% last month, S&P Global and others will also report.
Ford Motor (F) Boeing (BA) General Motors (GM) McDonald's (MCD) Coca-Cola (KO), eBay (EBAY), General Dynamics, Bristol Myers Squibb, CME Group, Hilton Worldwide and others will release quarterly results.