Another round of jobless claims, due Thursday, will be closely scrutinized after the number of people filing for unemployment benefits fell back to earth in the week ending Oct. 12.
“Hurricanes Helene and Milton and the Boeing strike are starting to distort the economic data, but given the timing of those storms — with Helene making landfall September 26 and Milton on October 10 — the most significant impact on the data is still ahead of us,” Oxford Economics wrote in a note on Friday.
Weekly calendar
Monday:
Economic data: Leading Economic Index, September (-0.3% expected, -0.2% prior)
Earnings: SAP SE (SAP), Nucor Corporation (NUE), HBT Financial (HBT), Zions Bancorporation (ZION), Nucor Corporation
Tuesday:
Economic data: Philadelphia Fed Non-Manufacturing Index, October (-6.1 prior); Richmond Fed Manufacturing Index, October (-21 prior); Richmond Fed Business Conditions (-3 prior)
Earnings: General Motors (GM), 3M Company (MMM), RTX Corporation (RTX), Verizon Communications (VZ), GE Aerospace (GE), Lockheed Martin (LMT), Quest Diagnostics (DGX), Philip Morris (PM), Denny’s Corporation (DENN), Sherwin-Williams (SHW), Interpublic Group of Companies (IPG), Norfolk Southern Corporation (NSC), RTX Corporation (RTX), Texas Instruments (TXN), PulteGroup (PHM), Enphase Energy (ENPH)
Wednesday
Economic data: MBA Mortgage Applications, week ending Oct. 18 (-17.0% prior); Existing Home Sales, Sept. (3.88 million expected, 3.86 million prior); Federal Reserve Beige Book
Earnings: Tesla (TSLA), Boeing (BA), AT&T (T), IBM (IBM), Coca-Cola (KO), GE Verona (GEV), T-Mobile (TMUS), Las Vegas Sands (LVS), Hilton Worldwide Holdings (HLT), Whirlpool Corporation (WHR), Mattel (MAT), CME Group (CME), General Dynamics (GD), ServiceNow (NOW), Viking Therapeutics (VKTX)
Thursday
Economic data: Initial Jobless Claims, week ending Oct. 19 (240,000 expected, 241,000 prior); Continuing Claims, week ending Oct. 12 (1.87 million prior); S&P Global US Manufacturing PMI, October preliminary (47.5 expected, 47.3 prior); S&P Global US Services PMI, October preliminary (55.2 expected, 55.2 prior); New Home Sales, September (720,000 expected, 716,000 prior); Kansas City Fed Manufacturing Activity, October (-8 prior); Chicago Fed National Activity Index, September (0.12 prior)
Earnings: UPS (UPS), American Airlines (AAL), Southwest (LUV), Dexcom (DXCM), Deckers Outdoor Corporation (DECK), Sketchers (SKX), Coursera (COUR), Dow Inc. (DOW), Honeywell International (HON), Union Pacific Corporation (UNP), Hasbro (HAS), Northrop Grumman Corporation (NOC), Capital One (COF), Beyond, Inc. (BYON)
Friday
Economic data: Durable Goods Orders, September preliminary (-1.0% expected, 0.0% prior); Durables Ex-Transportation, September preliminary (-0.1% expected, 0.5% prior); University of Michigan Consumer Sentiment, October final (69.5 expected, 68.9 prior); Kansas City Fed Services Activity, October (-2 prior)
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