This week could be one of the busiest of the current earnings season. We’ll get reports from some of the biggest and most prominent companies in the world, including Tesla, Netflix, Johnson & Johnson, Bank of America, Goldman Sachs, Morgan Stanley, AT&T, and Lockheed Martin. On Tuesday, the U.S. Census Bureau will issue data on national retail sales for September, gauging the strength of U.S. consumer spending. We’ll also get the latest updates on the housing market, including September housing starts and existing home sales, and the National Association of Home Builders’ (NAHB) Housing Market Index for October.
A Busy Week of Earnings
This week could be one of the busiest of the current earnings season. We’ll get the last reports from the financial sector early in the week, with Charles Schwab, Bank of America, Goldman Sachs, and Morgan Stanley all scheduled to report. Johnson & Johnson and Lockheed Martin also will report on Tuesday, while Tesla, Procter & Gamble, and Netflix will follow on Wednesday. AT&T and TSMC will report on Thursday, and American Express will release its earnings on Friday.
September Retail Sales
On Tuesday, the U.S. Census Bureau will issue its latest report on national retail sales, a proxy for consumer spending. Retail sales have risen for five consecutive months as consumers remain willing to spend, despite persistently high inflation and rising interest rates. Robust consumer spending, which accounts for more than two-thirds of U.S. gross domestic product (GDP), is one of the reasons the U.S. has been able to avoid a recession.
Housing Market Updates
The latest updates on the housing market will become available this week. On Tuesday, the National Association of Home Builders (NAHB) will issue its Housing Market Index (HMI) for October, tracking sentiment among executives in the homebuilding industry. Housing starts and building permits, proxies for new home construction, will follow on Wednesday.
Last, the data on September’s existing home sales will come out on Thursday.