Apple Earnings, Product Event in Focus; Jobs Data Rolls In

By Lillian Currens / October 25, 2018 / www.schaeffersresearch.com / Article Link

CalendarBlue chips Exxon Mobil and Chevron will report earnings on Friday

It will be another busy week, with the latest batch of jobs data trickling in, including Friday's monthly payrolls report. Earnings season continues to heat up, too, with FAANG members Apple Inc. (NASDAQ:AAPL) and Facebook, Inc. (NASDAQ:FB) set to report -- and Apple is expected to unveil a new line of products on Tuesday. Several Apple suppliers will also report earnings, including Cirrus Logic, Inc. (NASDAQ:CRUS) and Qorvo Inc (NASDAQ:QRVO).

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.

On Monday, Oct. 29, data on personal income and outlays will surface. Chicago Fed President Charles Evans will speak.

An earnings-heavy week will be kicked off with quarterly reports from Akamai Technologies (AKAM), Bloomin' Brands (BLMN), Community Health Systems (CYH), Mondelez International (MDLZ), ON Semiconductor (ON), Transocean (RIG), Tower Semiconductor (TSEM), Weatherford International (WFT), and Wingstop (WING).

Tuesday, Oct. 30, will bring the S&P Corelogic Case-Shiller home price index and consumer confidence data. Meanwhile, Apple is expected to unveil a new line of products.

Blue-chips Coca-Cola (KO) and Pfizer (PFE) will step into the earnings confessional, as well as FAANG bigwig Facebook (FB). 3D Systems (DDD), Baidu (BIDU), eBay (EBAY), Electronic Arts (EA), Fiat Chrysler (FCAU), General Electric (GE), Mastercard (MA), MGM Resorts (MGM), and Under Armour (UAA) will also be reporting.

Wednesday, Oct. 31, will prove to be a busy day for both the economic calendar and quarterly earnings. The ADP employment report, the employment cost index, the Chicago purchasing managers manufacturing index (PMI), and the weekly crude inventories report are all slated for release.

General Motors (GM) is set to report earnings, along with Allstate (ALL), Anthem (ANTM), Chesapeake Energy (CHK), Clorox (CLX), Fitbit (FIT), Garmin (GRMN), Hanesbrands (HBI), Kellogg (K), Qorvo (QRVO), Sprint (S), and Yum Brands (YUM).

It will be another high-octane day on Thursday, Nov. 1, with weekly jobless claims, productivity and labor costs, the Markit PMI, the Institute for Supply Management (ISM) manufacturing index, construction spending data, and the Fed balance sheet.

Wall Street will weigh quarterly reports from Apple and fellow blue chip DowDuPont (DWDP). CBS (CBS), Cirrus Logic (CRUS), GoPro (GPRO), New York Times (NYT), Starbucks (SBUX), Teva Pharmaceutical (TEVA), U.S. Steel (X), Universal Display (OLED), Wayfair (W), Weight Watchers (WTW), and Yelp (YELP).

On Friday, Nov. 2, a week of jobs data will be punctuated by the highly anticipated monthly payrolls report. Traders will also digest reports on motor vehicle sales,international trade, and factory orders.

The earnings week will end with reports from big-cap oil titans Chevron (CVX) and Exxon Mobil (XOM), while Alibaba (BABA), Cinemark (CNX), Duke Energy (DUK), Newell Brands (NWL), and Seagate Technology (STX) will also report.

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