Earnings Preview: Traders... start your engines
2min read The upcoming week promises a packed earnings calendar with mega-cap tech names and essential economic data releases that could shape sentiment for what will likely be an even bigger week ahead. The lineup of earnings reports and economic indicators will set the stage for a pivotal following week, which includes the U.S. elections, a Federal Reserve meeting, and China’s legislative session, making for an increasingly volatile market landscape. Here’s a day-by-day breakdown of what to watch.
Monday
The week kicks off slowly but with some key earnings names that could still provide insights into critical sectors. ON Semiconductor reports in the morning, with results likely to shed light on semiconductor demand in the automotive sector. Later in the day, Amkor Technology (AMKR) and Cadence Design Systems (CDNS) will provide updates on semiconductor demand from other vantage points, with AMKR specializing in packaging and CDNS in design software. Ford (F), Rambus (RMBS), Waste Management (WM), and Avis Budget Group (CAR) will also release earnings, offering insights across automotive, chip technology, environmental services, and consumer rentals.
Tuesday
Mega-cap tech takes center stage as Alphabet (GOOGL) reports, likely covering the state of digital advertising—a key consumer spending indicator—and updates on its cloud computing segment, which sets the stage for Microsoft (MSFT) and Amazon (AMZN) later in the week. The company’s conference call could also reveal insights about a potential forced breakup from the Department of Justice, sparking broader discussions on tech regulation. McDonald’s (MCD) and Chipotle (CMG) will report on consumer spending trends in fast food, while Visa (V) offers data on consumer spending habits through its transaction volumes. AMD, which recently held an AI day, will be scrutinized for insights into its competitiveness with Nvidia. Other notables include First Solar (FSLR), PayPal (PYPL), SoFi (SOFI), Reddit (RDDT), and Crocs (CROX).
Wednesday
Wednesday’s highlights include Meta Platforms (META) and Microsoft (MSFT), with Meta expected to provide further insights into its AI-driven advertising metrics, while Microsoft updates on the cloud and enterprise software landscape. Key reports from eBay (EBAY), KLA Corporation (KLAC), and Roku (ROKU) will give additional perspective on e-commerce, semiconductor equipment, and streaming services. In healthcare, General Electric HealthCare (GEHC) and Humana (HUM) will post updates, while Coinbase (COIN), MicroStrategy (MSTR), and Robinhood (HOOD) provide a view of cryptocurrency and digital asset trends. Starbucks (SBUX) will also be of interest under new CEO Brian Niccol’s leadership, and Caterpillar (CAT) could offer insights into the industrial and China-exposed sectors.
Thursday
Apple (AAPL) and Amazon (AMZN) headline Thursday, two names under close scrutiny as they face questions on consumer demand amid heightened economic uncertainty. Apple’s iPhone sales will be a focal point, while Amazon’s results will shed light on the cloud, advertising, and retail landscapes, especially with the holiday season on the horizon. Intel (INTC) will also report, with investors watching for signs of recovery in the semiconductor industry. Uber (UBER) will provide updates on the consumer and transportation sectors, and other notable names include Generac (GNRC), Corning (GLW), Grainger (GWW), Mastercard (MA), Peloton (PTON), STMicroelectronics (STM), and Atlassian (TEAM).
Friday
Energy will take the spotlight as Chevron (CVX) and ExxonMobil (XOM) post earnings, expected to give insights into oil demand and potential impacts from global geopolitical tensions. Cardinal Health (CAH), fuboTV (FUBO), LyondellBasell (LYB), and Wayfair (W) round out the week, offering perspectives across healthcare, streaming, chemicals, and e-commerce, respectively.
Economic Data
The week also brings a host of economic data, providing key insights as we enter November. Tuesday starts with the JOLTS job openings report, followed by Wednesday’s ADP employment data and Thursday’s personal income, spending, and PCE inflation readings, crucial for understanding the Fed’s stance on inflation. Friday wraps up with the October jobs report and ISM Manufacturing data, both essential as they’ll be the final major economic indicators before the U.S. elections. Also notable, the first look at Q3 GDP will offer political talking points ahead of Election Day.
Conclusion
This week’s earnings and economic reports will set a foundation for an even bigger week to come, with U.S. elections, a Federal Reserve policy meeting, and a Chinese legislative gathering all on the horizon. These developments will help define market sentiment as we close out 2024. Investors should buckle up—it’s likely to be a volatile ride in the weeks ahead as the market digests some of the year’s most consequential updates.
