The Week on Wall Street
Earnings helped give the Nasdaq Composite and S&P
500 a slight lift last week, offsetting investor disappointment over the small scope of the
preliminary U.S.-China trade deal reached on October 11. Blue chips took a small weekly loss.
The Nasdaq and S&P respectively gained 0.40% and 0.54% on the week. The Dow Jones Industrial Average retreated just 0.17%. Outdoing these three benchmarks, the MSCI EAFE index tracking stocks in developed overseas markets rose 1.35%.[1][2]
The Early Earnings Picture
According to stock market analytics firm FactSet,
15% of S&P 500 companies had reported results through Friday's close. Of those companies, 84%
announced that net profits topping projections, and 64% said that revenues had exceeded forecasts.
One big question is whether overall earnings for S&P 500 firms will show year-over-year growth. There was no year-over-year earnings gain evident in either Q1 or Q2.[3]
Retail Sales Declined Last Month
Shoppers scaled back their purchases in
September. The Census Bureau announced a 0.3% dip for retail sales, the first decrease in seven
months.
Auto sales can influence this number, and car and truck buying fell 0.9% last month. A fall pickup in that category may help encourage another monthly advance.[4]
What's Next
If you buy your own health coverage, note that the open enrollment
period for 2020 health insurance plans begins on November 1 in most states. The open enrollment window
closes on December 15.[5]
THE WEEK AHEAD: KEY ECONOMIC DATA
Tuesday: The National
Association of Realtors publishes a report on September existing home
sales.
Thursday: A report on September new home sales arrives from the Census
Bureau.
Friday: The University of Michigan's final October Consumer Sentiment
Index appears, evaluating consumer confidence levels.
Source: Econoday, October 18, 2019
The Econoday economic calendar lists upcoming U.S.
economic data releases (including key economic indicators), Federal Reserve policy meetings, and
speaking engagements of Federal Reserve officials. The content is developed from sources believed to
be providing accurate information. The forecasts or forward-looking statements are based on
assumptions and may not materialize. The forecasts also are subject to revision.
THE WEEK AHEAD: COMPANIES REPORTING EARNINGS
Monday: Celanese
(CE), Halliburton (HAL), Sap (SAP), TD Ameritrade (AMTD)
Tuesday: McDonalds
(MCD), Novartis (NVS), Procter & Gamble (PG), Texas Instruments
(TXN)
Wednesday: Boeing (BA), Eli Lilly (LLY), Microsoft (MSFT), PayPal
(PYPL)
Thursday: Amazon (AMZN), Comcast (CMCSA), Intel (INTC), Visa
(V)
Friday: Anheuser-Busch (BUD), Verizon (VZ)
Source: Zacks, October 18, 2019
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