Stocks climbed slightly last week on the back of better than forecast earnings data – roughly ¼ of S&P 500 constituents have reported so far and of these 81% have shown a positive earnings surprise. Low inflation data coupled with continued positive economic data also helped investors overcome their anxiety over the eventual interest rate hike. The upcoming week will provide plenty for investors to fret over, including a deluge of earnings reports as well as some key economic data that could tip some of the remaining ‘Doves’ on the FOMC to agree to a December tightening.
This Week’s Market Moving Events:
- Monday: Chicago Fed National Activity Index, PMI Manufacturing Index. Kimberly Clark (S: KMB), Visa (S: V) report earnings.
- Tuesday: Redbook Report, Consumer Confidence, Richmond Fed Manufacturing Index, Investor Conference. 3M (S: MMM), Apple (S: AAPL), Caterpillar (S: CAT), Elli Lilly (S: LLY), General Motors (S: GM), Merck (S: MRK), Proctor & Gamble (S: PG), Under Armour (S: UA) report.
- Wednesday: Mortgage Applications, International Trade, PMI Services, New Home Sales. Boeing (S: BA), Coca Cola Co. (S: KO), Waste Management (S: WM) report.
- Thursday: Durable Goods Orders, Pending Home Sales, Kansas City Fed Manufacturing Index. Alphabet (S: GOOG), Philip Morris (S: MO), Amazon (S: AMZN), Bristol Meyer (S: BMY), Colgate Palmolive (S: CL), Ford Motor Co. (S: F), Raytheon (S: RTN) report.
- Friday: Q3 GDP, Employment Cost Index, Consumer Sentiment. Auto Nation (S: AN), Chevron (S: CSX), Exxon Mobil (S: XOM), MasterCard (S: MA), Xerox (S: XRX) report.