Third-quarter earnings season picks up this week, with more than 60 S&P 500 companies scheduled to report. The economic calendar will bring a bevy of housing-market indicators and other data.
Bank of America and Charles Schwab will be Monday's earnings highlights, followed by Netflix, Lockheed Martin, Johnson & Johnson, Goldman Sachs, and Intuitive Surgical on Tuesday.
IBM, Tesla, Procter & Gamble, United Airlines Holdings, and Nestlé release results on Wednesday. Thursday will be busy: Blackstone, Dow, American Airlines Group, AT&T, Union Pacific, Snap, and Boston Beer all report. Finally, American Express, Verizon Communications, and Schlumberger close the week on Friday.
Housing data out this week will include the National Association of Home Builders' NAHB/Wells Fargo Housing Market Index for October on Tuesday, the Census Bureau's new residential construction data for September on Wednesday, and the National Association of Realtors' existing-home sales for September on Thursday.
Other economic releases this week include the Federal Reserve's latest beige book on Wednesday and the Conference Board's Leading Economic Index for September on Thursday.
Monday 10/17
Bank of America, Charles Schwab, and Bank of New York Mellon report third-quarter earnings.
The Federal Reserve Bank of New York releases its Empire State Manufacturing Survey for October. Expectations are for a minus 2.5 reading, compared with minus 1.5 in September. Readings above zero represent economic expansion in the survey.
Tuesday 10/18
Netflix, Lockheed Martin, Albertsons, Hasbro, Johnson & Johnson, Roche Holding, Goldman Sachs, Truist Financial, State Street, Interactive Brokers, Omnicom Group, J.B. Hunt Transport Services, and Intuitive Surgical are among companies discussing financial results.
The Federal Reserve releases industrial production data for September. Economists are looking for no change, after a 0.2% drop in August. Capacity utilization is expected at 79.9%, roughly in line with August's 80.0%.
The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for October. Consensus estimate is for a 43.5 reading, compared with 46 in September. The index has dropped every month in 2022 from its 84 reading in December.
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