Tesla, Goldman, Netflix, Lockheed, TSMC, and More Stocks to Watch This Week

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Third-quarter earnings season is here. More than 50
S&P 500
firms are set to report this week. Economic-data releases will include retail sales data and the Federal Reserve’s latest beige book.

On Wednesday,
ASML Holding,

Morgan Stanley,

Netflix,

Procter & Gamble,

Tesla,

Travelers,
and
U.S. Bancorp
will report. Thursday’s earnings highlights include
American Airlines Group,

AT&T,
and
Taiwan Semiconductor Manufacturing,
with
American Express
and SLB closing the week on Friday.

Releases on the economic-data calendar include the Census Bureau’s retail sales for September on Tuesday followed on Thursday by the Conference Board’s Leading Economic Index, which has posted 17-straight months of declines.

There will also be plenty of data on the U.S. housing market: The National Association of Home Builders will release its Housing Market Index for October on Tuesday, the Census Bureau reports September housing starts on Wednesday, and the National Association of Realtors adds existing-home sales for September on Thursday.

Finally, the Fed will release its seventh beige book of the year on Wednesday, describing current economic conditions across the U.S.

Monday 10/16

Charles Schwab reports third-quarter fiscal 2023 results.

Tuesday 10/17

Bank of America,
Bank of New York Mellon,
Goldman Sachs Group,
J.B. Hunt Transport Services,
Johnson & Johnson, Lockheed Martin,
Omnicom Group,

Prologis,
and United Airlines Holdings announce earnings.

The Census Bureau reports retail sales data for September. The consensus estimate is for retail sales to increase 0.3% month over month. Excluding autos, sales are expected to rise 0.2%. In August retail sales rose 0.6% as did sales excluding autos.

The National Association of Home Builders releases its Housing Market Index for October. Economists forecast a 45 reading, matching the September figure. 

Wednesday 10/18

Abbott Laboratories,
ASML Holding,
Citizens Financial Group,
Crown Castle,
Discover Financial Services,

Elevance Health,

Equifax,

Kinder Morgan,

Lam Research,

Las Vegas Sands,

M&T Bank,
Morgan Stanley, Nasdaq,
Netflix,

Northern Trust,

PPG Industries,
Procter & Gamble, SAP, State Street, Tesla, Travelers, and U.S. Bancorp release quarterly results.

The Census Bureau reports new residential construction statistics for September. Expectations are for a seasonally adjusted annual rate of 1.38 million privately-owned housing starts, roughly 100,000 more than in August. 

The Federal Reserve releases the beige book for the seventh of eight times this year. The report gathers anecdotal information on current economic conditions from the 12 regional Federal Reserve banks.

Thursday 10/19

American Airlines Group, AT&T, Blackstone,
CSX,

Fifth Third Bancorp,

Freeport-McMoRan,

Genuine Parts,

Intuitive Surgical,

KeyCorp,

Marsh & McLennan,

Philip Morris International,
Taiwan Semiconductor Manufacturing,
Truist Financial,
and
Union Pacific
hold conference calls to discuss earnings.

The Conference Board releases its Leading Economic Index for September. The consensus call is for a 0.4% month over month decline, matching the August drop. The LEI has fallen for 17 consecutive months, “indicating the economy is heading into a challenging growth period and possible recession over the next year,” according to Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board.

The National Association of Realtors reports existing-home sales for September. Economists forecast a seasonally adjusted annual rate of 3.9 million homes sold, 3.5% less than in August.

Friday 10/20

American Express,
Huntington Bancshares,

Interpublic Group,

Regions Financial,
and SLB report quarterly results.

Write to Nicholas Jasinski at [email protected]

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