3Q Earnings, ECB Policy Decision Expected To Weigh On Market; The Week Ahead

On Friday U.S. stock indexes rose, boosted by a string of decent bank earnings and strong U.S. retail sales figures for September which increased to a 3 month high and gave investors some added relief about the level of retail spending in the U.S. economy.

The U.S. Commerce Department and National Retail Federation reported on Friday that U.S. retail sales rose 0.6 percent in September, matching a consensus estimate from briefing.com, after a weaker -0.2 percent in August.

This coming week investors will continue to digest a large dose of 3rd quarter earning reports and other economic data such as inflation, housing, and manufacturing will come into view for further signs about the strength of the U.S. economy.

The outcome of a monetary policy meeting from the European Central Bank (ECB) is due on Thursday from Frankfurt, Germany and is expected to weigh on the market later in the week.

On Monday in the U.S. Empire manufacturing for October is reported along with Industrial Production and Capacity Utilization for September. Bank of America, IBM, and Netflix will report their corporate earnings.

On Tuesday some more inflation data will come into focus with consumer price index (CPI) due for September. Blackrock, Goldman Sachs, Johnson & Johnson will report earnings.

Housing Starts and Building Permits for September will be disclosed on Wednesday along with the Fed’s Beige book for October. Morgan Stanley and American Express will report earnings.

The 3rd and final U.S. presidential debate will occur on Wednesday from Las Vegas, Nevada.

On Thursday existing home sales for September is due. American Airlines and Verizon will report earnings.

Full U.S. Economic Calendar

Monday- Empire Manufacturing (Oct.), Industrial Production and Capacity Utilization for September.

Tuesday- Consumer price index (CPI) due for September, NAHB Housing Market Index for October, Net Long Term Tic Flows (Aug.)

Wednesday- Housing Starts and Building Permits for September, MBA Mortgage Index, Crude Inventories

Thursday- Existing home sales (September), Continuing and Initial Claims, Philadelphia Fed (Oct.), Leading Indicators (Sept.), Natural Gas Inventories.

Written By:

Johnathan Schweitzer






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