This will be the busiest week of the earnings season as more than 800 companies report. 149 will be S&P 500 firms. The market is beginning to show some signs of weakness as the “better than expected” earnings results have been largely priced in. The real test could come from the economic data. We will get important housing data early in the week followed by a late week look at Q3 GDP and important consumer data on Friday. Let’s take a look at what’s on tap:
Monday –A slow day all around. There are no real market moving earnings reports. The market will likely respond to any merger Monday news as well as another round of expected analyst upgrades.
Tuesday –Earnings from Norfolk Southern and U.S. Steel should provide some insight into the strength of the real economy.
- ICSC-Goldman Store Sales 7:45 AM ET
- Redbook 8:55 AM ET
- S&P Case-Shiller HPI 9:00 AM ET
- Consumer Confidence 10:00 AM ET
- Durable Goods Orders 8:30 AM ET
- New Home Sales 10:00 AM ET
- EIA Petroleum Status Report 10:30 AM ET
- GDP 8:30 AM ET
- Jobless Claims 8:30 AM ET
- EIA Natural Gas Report 10:30 AM ET
Friday –Another heavy earnings slate, but the focus will likely remain on economic news:
- Personal Income and Outlays 8:30 AM ET
- Employment Cost Index 8:30 AM ET
- Chicago PMI 9:45 AM ET
- Consumer Sentiment 9:55 AM ET
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.