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.
Wednesday 10/19
The Census Bureau reports new residential construction data for September. Economists forecast a seasonally adjusted annual rate of 1.480 million new housing starts, compared with 1.575 million in August.
IBM, Tesla, Procter & Gamble, Travelers, Citizens Financial Group, United Airlines Holdings, Abbott Laboratories, Northern Trust, Nestlé, Nasdaq, Baker Hughes, Ally Financial, ASML Holding, Lam Research, Prologis, and Alcoa hold earnings calls with investors.
The Federal Reserve Bank releases its beige book on current economic conditions among its 12 districts.
Thursday 10/20
Blackstone, Dow, Union Pacific, NextEra Energy, KeyCorp, ManpowerGroup, Snap-On, Danaher, American Airlines Group, AT&T, Philip Morris International, Union Pacific, Quest Diagnostics, Genuine Parts, CSX, Snap, and Boston Beer hold earnings conference calls.
The Conference Board releases its Leading Economic Index for September. Consensus estimate is for a seasonally adjusted 0.3% month-over-month decline, after a 0.3% drop in August.
The National Association of Realtors reports existing-home sales for September. Expectations are for a seasonally adjusted annual rate of 4.70 million homes sold, compared with 4.80 million in August.
The Philadelphia Fed Manufacturing Index is released. Estimates call for a minus 5.0 reading in October, compared with minus 9.9 in September.
Friday 10/21
American Express, Whirlpool, Regions Financial, HCA Healthcare, Tenet Healthcare, and Schlumberger hold earnings conference calls.