Banking Bellwethers Kick Off Earnings, Fed’s Warsh’s Speech In Focus
Get ahead of the market by subscribing to Seeking Alpha’s Wall Street Week Ahead, a preview of key events scheduled for the coming week. The newsletter keeps you informed of the biggest stories set to make headlines, including upcoming IPOs, investor days, earnings reports, and conference presentations.
Wall Street regained some momentum on Friday after the AI trade came under pressure on Thursday amid revenue concerns surrounding OpenAI (OPENAI). Reports indicated that OpenAI’s annualized revenue reached $50B at the end of September, below the $68B figure reported the previous month. On the economic front, consumer sentiment fell more than expected in October’s initial reading as inflation expectations accelerated.
The next week will kick off with IMF meetings beginning Monday. Existing home sales data for September will be released on Tuesday. On Wednesday, CPI data for September will be released with Retail sales and PPI data for the month the following day; initial jobless claims are also due on Thursday. Fed Chair Kevin Warsh’s speech is due on Friday, which will also be keenly watched out for by investors.
Banking bellwethers will kick off third-quarter earnings next week. Firms including JPMorgan (JPM), Morgan Stanley (MS), Citigroup (C), and Goldman Sachs (GS) are scheduled to report their results.
______________________________________________________________
Earnings spotlight: Tuesday: JPMorgan, J&J (JNJ), Goldman Sachs, Citigroup, and Wells Fargo (WFC). See the full earnings calendar.
Earnings spotlight: Wednesday: ASML (ASML), Bank of America (BAC), Morgan Stanley. See the full earnings calendar.
Earnings spotlight: Thursday: Taiwan Semiconductor (TSM). See the full earnings calendar.
Volatility watch: Moderna (MRNA) and SELLAS Life Sciences Group (SLS) have seen options volatility increase over the last week. The most overbought stocks per their 14-day Relative Strength Index include XP (XP), NetSol Technologies (NTWK), and Chaince Digital Holdings (
