Big Tech earnings, Pfizer COVID-19 booster shot meeting, inflation data top week ahead
Other companies delivering earnings include Kimberly Clark, UPS, Coca-Cola, Robinhood Markets, GM, McDonald's, Ford, Boeing and Starbucks
Will rising wages, inflation crush broader markets?
Sarge986 President Stephen Guilfoyle and Prosper Trading Academy's Scott Bauer address current pressures on the economy.
Big Tech will dominate earnings for the upcoming week, while investors will take in more key housing and inflation data. A Food and Drug Administration advisory committee will also meet in the back half of the week to discuss whether to approve Pfizer and BioNTech's COVID-19 vaccine booster doses for children ages 5 to 11.
This as the Dow Jones Industrial Average closed on Friday at its first record since Aug. 16. Meanwhile, the S&P 500 and Nasdaq slipped on weakness in big tech stocks after Snap missed revenue expectations in the third quarter. The social media app noted Apple iPhone privacy changes disrupted its advertising business.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 37996.32 | +220.94 | +0.58% |
| SP500 | S&P 500 | 4968.13 | -42.99 | -0.86% |
| I:COMP | NASDAQ COMPOSITE INDEX | 15289.412345 | -312.09 | -2.00% |
FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
Monday 10/25
Kicking off the week for earnings will be Kimberly Clark and Lennox International before the market open, while Facebook takes the spotlight after the bell, delivering its first results since former product manager-turned whistleblower Frances Haugen testified before Congress, accusing the tech giant's products of harming children, stoking division, and weakening democracy.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| KMB | KIMBERLY-CLARK CORP. | 126.77 | +1.15 | +0.92% |
| LII | LENNOX INTERNATIONAL INC. | 458.64 | +0.79 | +0.17% |
| FB | n.a. | n.a. | n.a. | n.a. |
Meanwhile, Monday will be relatively quiet for economic data, with the national activity index in focus.
People pass by a Whole Foods Market in New York City, U.S., February 7, 2017. REUTERS/Brendan McDermid (REUTERS/Brendan McDermid / Reuters Photos)
In addition, Amazon Prime Members will be hit with a $9.95 surcharge for Whole Foods Market delivery orders. However, a Whole Foods spokesperson previously told FOX Business that any pickup orders over $35 will still be free for Prime Members.
Other notable events include the release of Apple's new Mac operating system, Monterey, a Walt Disney World hiring event at Coronado Springs Resort Convention Center and the expiration of a judge's hold on United Airlines' plan to put unvaccinated employees on unpaid leave. The hold was put in place for individuals seeking a medical or religious exemption from the mandate.
Tuesday 10/26
Earnings will ramp up on Tuesday with General Electric, Hasbro, JetBlue Airways, Lockheed Martin, Sherwin-Williams, UPS, and Xerox among the companies slated to report before the market open.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GE | GE AEROSPACE | 148.12 | -4.83 | -3.16% |
| HAS | HASBRO INC. | 54.94 | +0.12 | +0.22% |
| JBLU | JETBLUE AIRWAYS CORP. | 7.11 | +0.28 | +4.10% |
| LMT | LOCKHEED MARTIN CORP. | 463.68 | +7.53 | +1.65% |
| SHW | THE SHERWIN-WILLIAMS CO. | 306.51 | -2.85 | -0.92% |
| UPS | UNITED PARCEL SERVICE INC. | 142.74 | +0.49 | +0.34% |
| XRX | XEROX HOLDINGS CORP. | 16.18 | -0.01 | -0.06% |
Alphabet, Microsoft, and Twitter will kick off Big Tech earnings after the bell. Investors will also hear from Capital One Financial, Visa, and Robinhood Markets.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GOOGL | ALPHABET INC. | 155.97 | +0.50 | +0.32% |
| MSFT | MICROSOFT CORP. | 399.10 | -5.17 | -1.28% |
| TWTR | n.a. | n.a. | n.a. | n.a. |
| COF | CAPITAL ONE FINANCIAL CORP. | 141.63 | +4.86 | +3.55% |
| V | VISA INC. | 269.85 | -1.56 | -0.58% |
| HOOD | ROBINHOOD MARKETS INC. | 16.56 | -0.52 | -3.02% |
Investors will also take in a wave of housing data, including new home sales, building permits, the FHFA monthly home price index and the Case-Shiller home price index, as well as the latest reading on consumer confidence.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PFE | PFIZER INC. | 25.39 | -0.03 | -0.12% |
| BNTX | BIONTECH SE | 86.97 | +0.80 | +0.93% |
Also on Tuesday, the Food and Drug Administration's Vaccines and Related Biological Products Advisory Committee will hold a meeting to discuss possible approval for booster doses of Pfizer and BioNTech's COVID-19 vaccine in children ages 5 to 11. JetBlue Airways founder David Neelman's new airline, Breeze Airways, will also receive its first delivery of Airbus A220 planes as the company looks to operate longer flights.
In addition, Snap, TikTok, and YouTube will be put in the hot seat by the Senate Commerce, Science, and Transportation Subcommittee on Consumer Protection, Product Safety, and Data Security, who will question company representatives about their platforms' impacts on children.
Wednesday 10/27
Earnings on the docket for Wednesday include Boeing, Coca-Cola, General Motors, Harley Davidson, Hess, Hilton WorldWide, Kraft Heinz, McDonald's and Spotify before the opening bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BA | THE BOEING CO. | 170.23 | +0.02 | +0.01% |
| KO | THE COCA-COLA CO. | 58.91 | +0.40 | +0.68% |
| GM | GENERAL MOTORS CO. | 42.40 | -0.05 | -0.12% |
| HOG | HARLEY-DAVIDSON INC. | 38.02 | +0.20 | +0.54% |
| HES | HESS CORP. | 151.78 | +0.98 | +0.65% |
| HLT | HILTON WORLDWIDE HOLDINGS INC. | 198.82 | -1.66 | -0.83% |
| KHC | THE KRAFT HEINZ CO. | 37.11 | +0.21 | +0.57% |
| MCD | MCDONALD'S CORP. | 270.98 | +1.03 | +0.38% |
| SPOT | SPOTIFY TECHNOLOGY SA | 276.76 | -11.97 | -4.15% |
Big names delivering results after the bell will include eBay, Ethan Allen, Ford Motor Company, O'Reilly Automotive, Pilgrim's Pride and Sleep Number.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| EBAY | EBAY INC. | 49.95 | +0.50 | +1.01% |
| ETD | ETHAN ALLEN INTERIORS INC. | 31.26 | +0.21 | +0.68% |
| F | FORD MOTOR CO. | 12.06 | +0.02 | +0.17% |
| ORLY | O'REILLY AUTOMOTIVE INC. | 1,101.06 | +6.26 | +0.57% |
| PPC | PILGRIMS PRIDE | 35.55 | +0.27 | +0.77% |
| SNBR | SLEEP NUMBER CORP. | 13.28 | +0.10 | +0.76% |
As for economic data, investors will be watching durable goods, core capital goods, the advance report on trade in goods, weekly mortgage applications, and the Energy Information Administration's weekly crude stocks.
Online designer rental firm Rent the Runway will also be a stock to watch on Tuesday as the company prepares to make its Nasdaq debut through an IPO that will offer 15 million shares at $18 to $21 apiece, according to its prospectus filing. Rent the Runway will trade under the ticker symbol rent. At $21 per share, Rent the Runway could be valued at nearly $1.3 billion.
In international news, the Iran Foreign Ministry will host talks on the situation in Afghanistan with Russia, China, Pakistan, Tajikistan, Uzbekistan and Turkmenistan
"The six countries will be focused on how they can help form an inclusive government in Afghanistan with the presence of all ethnic groups, and how they can help shape a future of peace and security in Afghanistan," Iran’s foreign ministry spokesman Saeed Khatibzadeh said during a press conference last week.
Thursday 10/28
The earnings parade continues on Thursday with Caterpillar, Comcast, Hershey, Keurig Dr. Pepper, Mastercard, Merck, Molson Coors Beverage, Overstock.com, Shopify, and Yum! Brands among the companies reporting before market open.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CAT | CATERPILLAR INC. | 354.68 | -1.95 | -0.55% |
| CMCSA | COMCAST CORP. | 40.16 | +0.54 | +1.35% |
| HSY | THE HERSHEY CO. | 184.86 | +2.41 | +1.32% |
| KDP | KEURIG DR PEPPER INC. | 31.54 | +0.41 | +1.30% |
| MA | MASTERCARD INC. | 454.70 | -5.46 | -1.19% |
| MRK | MERCK & CO. INC. | 125.21 | -0.16 | -0.13% |
| TAP | MOLSON COORS BEVERAGE CO. | 63.88 | +0.34 | +0.54% |
| OSTK | n.a. | n.a. | n.a. | n.a. |
| SHOP | SHOPIFY INC. | 69.56 | +0.01 | +0.02% |
| YUM | YUM! BRANDS INC. | 137.87 | +0.04 | +0.03% |
Amazon and Apple will conclude big tech earnings after the bell on Thursday. In addition, Gilead Sciences, Skechers USA, Starbucks, Texas Roadhouse and US Steel are also slated to report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 174.61 | -4.61 | -2.57% |
| AAPL | APPLE INC. | 167.04 | -0.96 | -0.57% |
| GILD | GILEAD SCIENCES INC. | 66.16 | -0.77 | -1.15% |
| SKX | SKECHERS U.S.A. INC. | 56.41 | -0.45 | -0.79% |
| SBUX | STARBUCKS CORP. | 87.59 | +0.44 | +0.50% |
| TXRH | TEXAS ROADHOUSE INC. | 150.46 | +1.07 | +0.72% |
| X | UNITED STATES STEEL CORP. | 38.94 | -0.19 | -0.49% |
Semiconductor chipmaker GlobalFoundries will be a stock to watch Thursday as the company debuts on the Nasdaq through an IPO offering of 55 million shares at $42 to $47 apiece. Investors will also be watching the advance report for third quarter GDP, pending home sales and the latest on initial and continuing jobless claims.
On Capitol Hill, the Senate Aging Committee will hold a hearing examining building a stronger retirement system for all Americans and the House Oversight Committee will hold a hearing entitled "Fueling the Climate Crisis: Exposing Big Oil’s Disinformation Campaign to Prevent Climate Action." In addition, the Senate Homeland Security and Governmental Affairs Committee will hold a hearing examining social media platforms and the amplification of domestic extremism and other harmful content.
Friday 10/29
Chevron, Colgate-Palmolive, Newell Brands, Phillips 66, Ruth’s Hospitality Group and WW Grainger will wrap up the week for earnings while personal income, consumer spending, core inflation, the employment cost index, the Chicago PMI and the final reading of the University of Michigan's consumer index for October will finish out the week for economic data.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CVX | CHEVRON CORP. | 157.57 | +1.17 | +0.75% |
| CL | COLGATE-PALMOLIVE CO. | 87.11 | +0.89 | +1.04% |
| NWL | NEWELL BRANDS INC. | 6.83 | -0.08 | -1.16% |
| PSX | PHILLIPS 66 | 153.31 | -3.94 | -2.51% |
| RUTH | n.a. | n.a. | n.a. | n.a. |
| GWW | W.W. GRAINGER INC. | 942.72 | +5.48 | +0.58% |
In addition, President Biden will meet with Pope Francis at the Vatican, where the two leaders will discuss "working together on efforts grounded in respect for fundamental human dignity, including ending the COVID-19 pandemic, tackling the climate crisis, and caring for the poor," according to a statement from the White House. Biden will also be in Rome on Saturday and Sunday for the G20 Leaders Summit and Glasglow, Scotland on Nov. 1 and 2 for the World Leader Summit at the start of the COP26 climate change gathering.