Stock Indices have continued to rebound from their lows as a result of the strong earnings reported and statements from the members of the Federal Reserve. Technology-focused Netflix & Tesla beat expectations, while Banks have benefited from higher interest rates. The Dow Jones, S&P 500, and Nasdaq all rose nearly 5% in the previous Week. The Week ahead is packed with economic data, including the third-quarter GDP results and earnings releases from big tech stocks.
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For the Full List of Events, Please Refer to the Earnings Calendar Here.
Big Tech Earnings
Next Week could be the busiest in terms of earnings for the quarter, with nearly one in three companies reporting Earnings. The five biggest tech companies, which make up more than 20% of the total market cap, will lead the way with earnings. This includes Microsoft & Alphabet Earnings on Tuesday, Meta on Wednesday, and Apple & Amazon on Thursday. Other companies that will report their earnings throughout the Week include Visa, the Coca-Cola company, Boeing, Ford, McDonald’s, Starbucks, and Intel. This should help paint a clear picture of the state of the economy,inflation, consumer spending, and where markets are headed next. $Apple(AAPL)$ $Amazon.com(AMZN)$ $Alphabet(GOOG)$ $Meta Platforms, Inc.(META)$ $Microsoft(MSFT)$
GDP Release
The Bureau of Economic Analysis (BEA) is set to release the figures for the third quarter US Gross Domestic Product, which will track the growth of the US economy for the three months that ended in September.
GDP Quarter-Over-Quarter Growth, Source:Statista
The US GDP is expected to have expanded to 2% in Q3 after previously contracting by 0.6% in the second quarter. A rise in GDP could indicate the first quarter of growth since Q4 2021, breaking the two-quarter negative streak.
Technical Indicators
S&P 500 chart $S&P 500(.SPX)$
The S&P 500 Index is Now Down 17.39% over the Past Year. The Fear and Greed Index Stood at a 45 Rating, Indicating Neutral Sentiment.
Year to Date Performance by Sector, Source:Finviz
The Energy Sector is the best performing at 33.69%, while the Technology, Consumer cyclical, and Communication Services Industries have seen the highest decline at over 30%.
Conclusion
The Week Ahead is packed with key earnings data and economic data releases, including the third-party GDP results, which will help paint a clear picture of where markets could be headed next.
In recent weeks, markets have continued to drop due tohigher inflationand a weakening economy. Key corporate earnings and housing market updates will depict where indices could be headed next.
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