Wall Street week ahead: Amazon, Microsoft, Boeing earnings and rising bond yields
10-year Treasury yield flirting with 5% - a 16-year high
Maria Bartiromo’s Wall Street - Friday, October 20
Biden, Wartime Aid, Two-Year Treasury Yield
Investors have another busy week of earnings as the United Auto Workers' strike against Detroit’s Big Three drags on. Also, commodity prices remain in focus as the war between Israel and Hamas continues. Oil touched the $90 per barrel level on Friday.
U.S. Oil Fund
ISRAEL EVACUATES CITY NEAR LEBANON AS HEZBOLLAH INCREASES ACTIVITY AMID ISRAEL-HAMAS WAR
Meanwhile, stocks tumbled Friday, leaving all three major U.S. benchmarks lower for the week.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 43408.47 | +139.53 | +0.32% |
| SP500 | S&P 500 | 5917.11 | +0.13 | +0.00% |
| I:COMP | NASDAQ COMPOSITE INDEX | 18966.143245 | -21.32 | -0.11% |
Monday, October 23
Rising Bond Yields
Investors will be keeping a close eye on bond yields as the 10-year Treasury flirts with 5%. The iShares 10-20 Year Treasury Bond ETF, which tracks prices inverted from yields, hit an all-time low last week and is down over 45% from its all-time high reached in August 2020, as tracked by Dow Jones Market Data Group.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TLH | ISHARES TRUST 10-20 YEAR TREASURY BD ETF | 102.08 | -0.26 | -0.25% |
SAM BANKMAN-FRIED’S ADHD MEDICATION A FOCAL POINT IN FTX TRIAL
Tuesday, October 24
GM answers to shareholders, tech earnings
General Motors will report earnings before the opening bell on Tuesday, as the UAW strike against the manufacturer, Ford and Stellantis drags well into its second month.
Impact from UAW strike 'is quite a ripple effect' on dealerships: Jordan Baker
Comodo Motors general manager Jordan Baker joins 'The Big Money Show' to discuss the impact on auto dealers and car buyers from the ongoing UAW strike.
GM has now reached roughly 6,000 strike-related layoffs. Earlier this month, the company confirmed an estimated $200 million loss related to the strike.
General Motors
AMERICANS' NET WORTH GREW 37% AFTER PANDEMIC HIT: FED SURVEY
Also on Tuesday, Big-Tech earnings will get underway with Microsoft and Alphabet reporting after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP. | 415.49 | -2.30 | -0.55% |
| GOOGL | ALPHABET INC. | 175.98 | -2.14 | -1.20% |
Shares of the software giant and Google parent company, are up year-to-date, skyrocketing around 37% and 55%, respectively.
UNITED AUTO WORKERS STRIKE: COST TO US ECONOMY NEARS $8 BILLION
Coca-Cola and Visa will report before the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| KO | THE COCA-COLA CO. | 63.01 | +0.43 | +0.69% |
| V | VISA INC. | 307.41 | -4.40 | -1.41% |
Wednesday, October 25
Meta shares on year-long rise
Meta will spearhead the day’s earnings after the bell. Year-to-date, shares of the Facebook parent have exploded, rising roughly 160%.
Meta
Boeing, Norfolk Southern and IBM will also report on Wednesday, with economic data on new home sales, mortgage applications and building permits.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BA | THE BOEING CO. | 146.11 | +0.70 | +0.48% |
| NSC | NORFOLK SOUTHERN CORP. | 259.10 | -0.61 | -0.23% |
| IBM | INTERNATIONAL BUSINESS MACHINES CORP. | 214.64 | +4.34 | +2.06% |
Thursday, October 26
Ford’s turn
Ford earnings are in focus Thursday after the automaker and Stellantis said they were cutting more jobs from two plants as a "direct result" of the ongoing strikes.
Ford
"This layoff is a consequence of the strike, because Sterling Axle Plant must reduce its production of parts that would normally be shipped to Kentucky Truck Plant," a Ford Motor Co. spokesperson told Fox News Digital.
Workers picket outside the Ford Assembly plant as the UAW strike against the Big Three U.S. automakers continues on Oct. 10, 2023, in Chicago. (Scott Olson / Getty Images)
The automaker has now reached a total of 2,730 layoffs since the UAW strike began in September.
US ECONOMY LITTLE CHANGED IN RECENT WEEKS: FED'S BEIGE BOOK
Other earnings on tap include Amazon, MasterCard, Chipotle Mexican Grill and Northrop Grumman.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 202.88 | -1.73 | -0.85% |
| MA | MASTERCARD INC. | 512.39 | -6.93 | -1.33% |
| CMG | CHIPOTLE MEXICAN GRILL INC. | 58.88 | +0.13 | +0.22% |
| NOC | NORTHROP GRUMMAN CORP. | 492.09 | +1.22 | +0.25% |
Additional economic data is expected on jobless claims, real consumer spending, pending home sales and the latest read on U.S. GDP.
September jobs report proves US is becoming a more socialistic country: Luke Lloyd
Strategic Wealth Partners investment strategist Luke Lloyd argues the Fed is fighting a losing battle against the government's spending addiction on 'Varney & Co.'
In the first read on the third quarter, the U.S. economy likely grew 4.2% compared to 2.1% in the second quarter, according to Trading Economics.
FED'S POWELL WARNS SLOWER ECONOMIC GROWTH MAY BE NEEDED TO COOL HIGH INFLATION
Friday, October 27
Key inflation data
Exxon Mobil and Chevron will deliver earnings results to shareholders to close the week.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| XOM | EXXON MOBIL CORP. | 120.35 | +1.76 | +1.49% |
| CVX | CHEVRON CORP. | 161.27 | +1.66 | +1.04% |
Meanwhile, the core price index for personal consumption expenditures (PCE), a broad measure of the price for everyday goods including gasoline, groceries and rents in the U.S., is slated for release.
Last month, the index showed consumer prices jumped 0.4% from August, with prices climbing 3.5% on an annual basis, according to the Labor Department.
Israel-Hamas conflict may be ‘extremely inflationary,’ US playing ‘very dangerous game’: Larry McDonald
The Bear Traps Report founder Larry McDonald speaks to FOX News Digital about how the U.S.’ involvement in the Israel war will impact the global economy and markets.
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FOX Business reporters Sarah Rumpf-Whitten and Megan Henney contributed to this report.
