Dow, FAANG Earnings Heat Up; Wall Street Gets a Glimpse of 3Q GDP

By Katie Coburn / October 19, 2017 / www.schaeffersresearch.com / Article Link

Another onslaught of quarterly earnings are due this week, with big-cap companies like Boeing Co (NYSE:BA), Exxon Mobil Corporation (NYSE:XOM), Intel Corporation (NASDAQ:INTC), McDonald's Corporation (NYSE:MCD), and Visa Inc (NYSE:V) set to report. Earnings from FAANG names Amazon.com, Inc. (NASDAQ:AMZN) and Alphabet Inc (NASDAQ:GOOGL) are also slated for release. On the economic front, traders will turn their attention to durable goods orders and catch the first glimpse of third-quarter gross domestic product (GDP).

Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates.

The week starts off slow on Monday, Oct. 23, with a bare economic calendar. Halliburton (HAL), Hasbro (HAS), Kimberly-Clark (KMB), Knoll (KNL), Owens-Illinois (OI), Seagate Technology (STX), V.F. Corp (VFC), Whirlpool (WHR), and Zions Bancorp (ZION) will report earnings.

Tuesday, Oct. 24, will bring Markit's flash purchasing managers index (PMI). 3M (MMM), Caterpillar (CAT), McDonald's (MCD), United Technologies (UTX), Advanced Micro Devices (AMD), AT&T (T), Biogen (BIIB), Capital One (COF), Chipotle Mexican Grill (CMG), Fiat Chrysler (FCAU), Fifth Third Bancorp (FITB), General Motors (GM),JetBlue Airways (JBLU), Sherwin-Williams (SHW), and Stanley Black & Decker (SWK) will step up to the earnings plate.

On Wednesday, Oct. 25, data on durable goods, new homes sales, and the weekly crude inventories update will hit the Street. Boeing (BA), Coca-Cola (KO), Visa (V), Alaska Air (ALK), Anthem (ANTM), Freeport-McMoRan (FCX), GrubHub (GRUB), Huntington Banc (HBAN), Las Vegas Sands (LVS), Northrop Grumman (NOC), O'Reilly Automotive (ORLY), Sirius XM (SIRI), Trivago (TRVG), Walgreens Boots Alliance (WBA), and Wyndham Worldwide (WYN) are scheduled to release quarterly earnings.

Weekly jobless claims will be released on Thursday, Oct. 26, along with pending home sales and international trade data. Traders will also hear from Minneapolis Fed President Neel Kashkari during regular trading hours.

Intel (INTC), Microsoft (MSFT),Alphabet (GOOGL), Amazon (AMZN), American Airlines (AAL), Bristol-Myers (BMY), CME Group (CME), Expedia (EXPE), First Solar (FSLR), Ford Motor (F), Gilead Sciences (GILD), Southwest Airlines (LUV), Spirit Airlines (SAVE), Twitter (TWTR), Vantiv (VNTV), Western Digital (WDC), and Xerox (XRX) will step into the earnings confessional.

In addition to the advance reading on third-quarter GDP, the latest University of Michigan consumer sentiment data is slated for release Friday, Oct. 27. Exxon Mobil (XOM), Merck (MRK), Chevron (CVX), Goodyear Tire (GT), and Phillips 66 (PSX) will round out the week's earnings reports.

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