Meta, Tesla Headline Earnings In Busy Week For Markets
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Wall Street’s major market averages were lower on Friday as technology stocks came under further pressure amid an already challenging trading week. A pullback in artificial intelligence-related stocks has weighed on the broader market this week, with memory chip stocks among the hardest-hit segments as investors reassessed the sector’s recent performance.
The economic calendar is relatively lighter for the coming week as earnings take center stage with major data releases concentrated towards the latter half of the week. Initial jobless claims will be released on Thursday, while S&P Global PMI data for October is due on Friday.
Firms including Meta (META), Tesla (TSLA), IBM (IBM), and Netflix (NFLX) are scheduled to report their results next week.
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Earnings spotlight: Tuesday: GE Aerospace (GE), Netflix, 3M (MMM), United Airlines (UAL). See the full earnings calendar.
Earnings spotlight: Wednesday: Philip Morris (PM), Meta, Tesla, IBM, AT&T (T), Kinder Morgan (KMI). See the full earnings calendar.
Earnings spotlight: Thursday: P&G (PG), Western Digital (WDC). See the full earnings calendar.
Earnings spotlight: Friday: ExxonMobil (XOM), American Express (AXP). See the full earnings calendar.
Volatility watch: Dell (DELL) and Ciena (CIEN) have seen options volatility increase over the last week. The most overbought stocks per their 14-day Relative Strength Index include Bumble (BMBL) and Sweetgreen (SG). The most oversold stocks per their 14-day Relative Strength Index include Global Net Lease (GNL) and Glass House Brands (GLAS). Short interest is elevated on Serve Robotics (SERV) and Sunrun (RUN).
Dividend watch: Companies that have an ex-dividend date coming next week
