Earnings Season Heats Up: What to Expect This Week
US stocks are bracing for a packed week of top-tier earnings that could drive or drag on the record-setting rally. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all edged lower on Monday as investors await quarterly results from over 100 S&P 500 companies.
Tech Earnings in Focus
Tesla’s report on Wednesday is highly anticipated, especially after its robotaxi unveiling fell short of expectations. Other big hitters on the earnings docket this week include General Motors, Coca-Cola, American Airlines, and UPS. Boeing faces a double-whammy on Wednesday, with earnings release and a union vote on a tentative labor deal.
Market Movers
Nvidia climbed over 1.5% on Monday, helping mitigate a bigger decline in the Nasdaq Composite. Shares of the AI chip heavyweight rose to hover above $140 each. Meanwhile, Boeing stock jumped as much as 4.5% Monday premarket on news of a tentative labor deal with workers.
Economic Data
The 10-year Treasury yield climbed over 6 basis points to 4.136%, the highest level since the end of July. Oil prices rose as much as 2% alongside gains for Chinese stocks as China’s stimulus push continued. Global benchmark Brent futures traded near $74 a barrel, while West Texas Intermediate crude futures topped $70.
What to Watch This Week
- Tesla’s earnings report on Wednesday
- Boeing’s earnings release and union vote on Wednesday
- Quarterly results from General Motors, Coca-Cola, American Airlines, and UPS
- Economic data: Leading Economic Index (September) and Treasury 10-year yields
Analyst Insights
- Goldman: S&P 500’s decade of big gains is over
- ASML highlights chasm in chips: AI winners vs. everyone else
- Boeing’s proposed labor deal could lead to $1B in costs
- Treasury 10-year yields may hit 5% within months: T. Rowe Price
Stay tuned for more market updates and analysis throughout the week.
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