Tesla, Netflix earnings, Spirit Airlines shareholder vote, existing home sales top week ahead
Other earnings on the docket include Bank of America, United Airlines, Procter & Gamble, IBM, AT&T, Snap Inc. and Verizon
Investors are gearing up for another wave of corporate earnings and economic data. In addition, Wall Street will be watching for developments from a key shareholder vote in JetBlue Airways' proposed merger with Spirit Airlines.
On Friday, U.S. stocks closed out a wild week with losses for all three of the major benchmarks. For the week, the Dow Jones Industrial Average posted a gain of 1.3%, while the S&P 500 and Nasdaq Composite retreated by 1.5% and 3%, respectively.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
I:DJI | DOW JONES AVERAGES | 43959.47 | +1.28 | +0.00% |
SP500 | S&P 500 | 5979.98 | -5.40 | -0.09% |
I:COMP | NASDAQ COMPOSITE INDEX | 19201.454779 | -29.27 | -0.15% |
FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
STOCK MARKET NEWS: DOW DROPS 400 POINTS, 10-YEAR TREASURY YIELD HITS 4%, OIL'S WEEKLY SLIDE
Monday 10/17
Kicking off the week will be earnings from Bank of America, Bank of New York Mellon and Charles Schwab before the market open.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
BAC | BANK OF AMERICA CORP. | 46.06 | +0.18 | +0.39% |
BK | THE BANK OF NEW YORK MELLON CORP. | 78.04 | +0.42 | +0.54% |
SCHW | THE CHARLES SCHWAB CORP. | 80.79 | +2.52 | +3.22% |
As for economic data, investors will be focused on the Empire State manufacturing index.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
WMT | WALMART INC. | 85.69 | +0.15 | +0.18% |
WBA | WALGREENS BOOTS ALLIANCE INC. | 8.95 | -0.09 | -0.94% |
Other notable events include the deadline for 19 million Americans who asked for extensions to file their income taxes, Walmart and Walgreens selling over-the-counter hearing aids and Sam's Club raising its Club membership fees for the first time in nine years and Plus membership fees for the first time since its introduction in 1999.
Tuesday 10/18
Earnings will ramp up on Tuesday with Albertsons, Goldman Sachs, Hasbro, Johnson & Johnson and State Street Corp. before the market open.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
ACI | ALBERTSONS COMPANIES | 19.20 | +0.10 | +0.50% |
GS | THE GOLDMAN SACHS GROUP INC. | 593.58 | -0.46 | -0.08% |
HAS | HASBRO INC. | 62.90 | +0.10 | +0.17% |
JNJ | JOHNSON & JOHNSON | 152.09 | -1.19 | -0.78% |
STT | STATE STREET CORP. | 95.26 | +0.06 | +0.06% |
Big names taking the spotlight after the bell include Netflix, United Airlines JB Hunt Transportation Services and Interactive Brokers Group.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
NFLX | NETFLIX INC. | 836.78 | +6.31 | +0.76% |
UAL | UNITED AIRLINES HOLDINGS INC. | 92.90 | +3.12 | +3.48% |
JBHT | J.B. HUNT TRANSPORT SERVICES INC. | 186.06 | -3.13 | -1.66% |
IBKR | INTERACTIVE BROKERS GROUP INC. | 178.84 | +0.20 | +0.11% |
On the economic data front, investors will take in industrial production and the National Association of Homebuilders' housing market index. Minneapolis Fed president Neel Kashkari participates in a panel on the economy and question-and-answer session before the Women Corporate Directors Minnesota Chapter.
STOCK MARKET TO SEE MORE PAIN BEFORE REACHING LOW, BOFA WARNS
Wednesday 10/19
Abbott Labs, Ally Financial, M&T Bank, Procter & Gamble and Winnebago will be among the companies delivering quarterly earnings results before the market open on Wednesday.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
ABT | ABBOTT LABORATORIES | 115.72 | -0.04 | -0.03% |
ALLY | ALLY FINANCIAL INC. | 36.58 | 0.00 | 0.00% |
MTB | M&T BANK CORP. | 213.37 | +1.46 | +0.69% |
PG | PROCTER & GAMBLE CO. | 167.40 | +0.84 | +0.50% |
WGO | WINNEBAGO INDUSTRIES INC. | 61.90 | +0.70 | +1.15% |
Meanwhile, IBM, Tesla, Alcoa, Equifax, and WD-40 will be among the companies in focus after the bell.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
IBM | INTERNATIONAL BUSINESS MACHINES CORP. | 207.07 | -3.84 | -1.82% |
TSLA | TESLA INC. | 319.95 | -10.29 | -3.12% |
AA | ALCOA CORP. | 41.38 | +0.80 | +1.96% |
EFX | EQUIFAX INC. | 267.12 | +1.11 | +0.42% |
WDFC | WD-40 CO. | 283.80 | -2.29 | -0.80% |
Wednesday's economic data will include housing starts and building permits, weekly mortgage applications and the Energy Information Administration's weekly crude stocks.
In addition, Minneapolis Fed president Neel Kashkari will participate in a question-and-answer session on "Inflation, Interest Rates and the State of the U.S. Economy" before a Travelers Institute Employee Town Hall and Chicago Fed president Charles Evans will participate in a moderated question-and-answer session on current economic conditions and monetary policy hosted by the Jefferson Scholars Foundation.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
JBLU | JETBLUE AIRWAYS CORP. | 7.11 | +0.17 | +2.38% |
SAVE | SPIRIT AIRLINES INC. | 1.42 | +0.11 | +8.43% |
Spirit Airlines shareholders will also vote on JetBlue Airways' $3.8 billion acquisition of the airline agreed to in July. JetBlue and Spirit expect to conclude the regulatory process and close the transaction no later that the first half of 2024.
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Thursday 10/20
The earnings parade will continue on Thursday with American Airlines, AT&T, Blackstone, Danaher, Philip Morris, Quest Diagnostics and Union Pacific among the companies reporting before the market open.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
AAL | AMERICAN AIRLINES GROUP INC. | 14.52 | +0.51 | +3.60% |
T | AT&T INC. | 22.38 | +0.08 | +0.37% |
BX | BLACKSTONE INC. | 183.31 | +1.69 | +0.93% |
DHR | DANAHER CORP. | 239.45 | -2.02 | -0.84% |
PM | PHILIP MORRIS INTERNATIONAL INC. | 126.69 | +1.46 | +1.16% |
DGX | QUEST DIAGNOSTICS INC. | 157.25 | -3.23 | -2.02% |
UNP | UNION PACIFIC CORP. | 236.91 | -3.43 | -1.43% |
Meanwhile, Snap Inc, Whirlpool, Boston Beer and Tenet Healthcare will be among the companies leading earnings after the bell.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
SNAP | SNAP INC. | 10.94 | -0.18 | -1.66% |
WHR | WHIRLPOOL CORP. | 116.47 | +2.58 | +2.26% |
SAM | BOSTON BEER CO. INC. | 322.98 | -1.12 | -0.35% |
THC | TENET HEALTHCARE CORP. | 168.71 | +5.71 | +3.50% |
Economic data on the docket for Thursday will include existing home sales, the Philadelphia Fed manufacturing index, the Conference Board's index of leading economic indicators and the latest in initial and continuing jobless claims. Philadelphia Fed president Patrick Harker will also speak about the economic outlook before the Greater Vineland Chamber of Commerce.
Friday 10/21
Wrapping up the week will be earnings from American Express, HCA Healthcare, Huntington Bancshares, Regions Financial, Schlumberger and Verizon before the market open on Friday.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
AXP | AMERICAN EXPRESS CO. | 289.99 | +2.35 | +0.82% |
HCA | HCA HEALTHCARE INC. | 357.78 | +8.33 | +2.38% |
RF | REGIONS FINANCIAL CORP. | 26.30 | +0.21 | +0.82% |
SLB | SCHLUMBERGER LTD. | 43.24 | -0.36 | -0.82% |
VZ | VERIZON COMMUNICATIONS INC. | 41.06 | -0.09 | -0.21% |
New York Fed president John Williams will also deliver opening remarks before the "Skilling the Gap: Building Local Talent for In-Demand Careers" event organized by Berkshire Taconic Community Foundation, Columbia-Greene Community College and the Colubmia and Green County Economic Development Commissions.