Earnings season kicks into gear in the week ahead
Third quarter earnings season begins in earnest this week with 53 companies in the S&P 500, or 11 percent of the benchmark index, posting their July-September results. We’ll also get numbers from seven of the 30 Dow Industrial companies.
Monday will begin with results from Bank of America before the opening bell.
Economic news will include the latest on retail sales, and the state of manufacturing in the New York area.
The banks continue to report on Tuesday with Goldman Sachs and Morgan Stanley delivering results.
Among the Dow components reporting before the bell will be Johnson & Johnson and UnitedHealth.
IBM, Netflix and United Continental are other companies reporting after the close of the markets.
In the middle of the week, the highlighted will be earnings from Abbot Labs US Bancorp, Winnebago and Alcoa.
Traders will get the latest data on housing starts.
Federal Reserve Vice Chairman for Supervision Randal Quarles will speak before an Economic Club of New York luncheon.
That same afternoon, the Fed will release the minutes from the last rate setting meeting.
Thursday day will be the busiest day for earnings. Highlights include Bank OF New York Mellon, KeyCorp, Phillip Morris, Travelers,
American Express, E*Trade, and Pay Pal.
Data will include jobless claims and a reading on manufacturing in the Mid-Atlantic region.
And the week ends with earnings from Honeywell, Procter & Gamble and SunTrust Banks.
Fed speakers include Fed Bank of Atlanta President Raphael Bostic and Fed Bank of Dallas President Robert Kaplan.
Traders will get the second housing-related report of the week with existing home sales.