The Moment Of Truth For Mag 7 Is Here! π
There's been a lot of chatter on X this weekend about BlackMonday, the Oct. 19, 1987 market crash that saw the Dow plunge 22.6% in a single day. Nasdaq's progress this year is spookily similar to the Dow in 1987.
That means the earnings from big tech like Microsoft, Alphabet, Meta, and Amazon this week will take on extra importance.
Another Black Monday hoax again?
A huge week of earnings reports has the potential to shift the focus of investors away from the headlines on the Middle East and surging Treasury yields.
Earnings call this week
Upcoming Corporate Earnings to Watch: Tuesday features a lineup of major companies including Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG), Visa Inc. (NYSE:V), The Coca-Cola Company (NYSE:KO), Danaher Corporation (NYSE:DHR), Texas Instruments Incorporated (NASDAQ:TXN), Verizon Communications Inc. (NYSE:VZ), General Electric Company (NYSE:GE) and Raytheon Technologies Corporation (NYSE:RTX).
Wednesday will bring earnings reports from Meta Platforms, Inc. (NASDAQ:FB), Thermo Fisher Scientific Inc. (NYSE:TMO), T-Mobile US, Inc. (NASDAQ:TMUS), International Business Machines Corporation (NYSE:IBM), ServiceNow, Inc. (NYSE:NOW), The Boeing Company (NYSE:BA), Automatic Data Processing, Inc. (NASDAQ:ADP) and CME Group Inc. (NASDAQ:CME).
Thursday includes Amazon.com, Inc. (NASDAQ:AMZN), Mastercard Incorporated (NYSE:MA), Merck & Co., Inc. (NYSE:MRK), Comcast Corporation (NASDAQ:CMCSA), Intel Corporation (NASDAQ:INTC), Caterpillar Inc. (NYSE:CAT), United Parcel Service, Inc. (NYSE:UPS), Honeywell International Inc. (NASDAQ:HON) and Bristol-Myers Squibb Company (NYSE:BMY).
Friday will wrap up the week with reports from Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX) and AbbVie Inc. (NYSE:ABBV).
Economic news this week
What To Watch In The Week Ahead:
The highly anticipated GDP data for the third quarter will be released on Thursday with economists predicting a robust 4.1% annualized growth rate. Friday will bring the release of the Federal Reserveβs preferred inflation gauge, the Personal Consumption Expenditure (PCE) index, for September. The headline PCE index is expected to show a decline from 3.7% year-on-year to 3.6%.
Can they shine this week?
FED SPEAKERS THIS WEEK:
*FED CHAIR POWELL (WED. 4:35PM)
*FOMC MEMBER WALLER (THURS. 9:00AM)
*FOMC MEMBER BARR (FRI. 9:00AM)
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Modify on 2023-10-23 17:37
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- koolgalΒ·2023-10-23TOPThanks for sharing your preview of this week! It's certainly a busy week for the Mag 7! Best of Luck with your trades ππππππ2Report
- AqaΒ·2023-10-23Liked and shared!ππ»2Report