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*dates subject to change*
Earnings Reports (10/30/2023 – 11/03/2023)
As the month of October comes to a close, markets showed heavy resistance spurred by faults seen in tech corporate earnings.
Some earnings highlights included Microsoft and Amazon, both of which reported better-than-expected top and bottom lines fueled by increases in consumer demand and effective cost-cutting measures. So far, these two companies along with Netflix were able to win over investors on Wall Street.
For the week, the biggest piece of economic news came from US third quarter GDP, which came stronger than expected at 4.9% quarterly growth. Durable goods orders also were 0.3 percentage points higher than expected as aircraft sales pushed demand higher. The continued trend of strong economic data during the previous months will lie in the FOMC’s heads as they make their decision next Wednesday.
Overall, U.S. stocks have pushed lower levels as issues from mega-cap corporate earnings have carried entire indices lower. Next week, both the Fed’s next interest rate decision and the third week of earnings season will have the largest impacts on market movement.
Here are the companies from this week’s expected earnings:
- McDonald’s – 10/30 (#macd)
- Advanced Micro Devices- 10/31 (#amd)
- Airbnb – 11/01 (#abnb)
- DoorDash – 11/01 (#dash)
- Apple – 11/02 (#aaple)
- Palantir Technologies – 11/02 (#pltr)
- Cinemark – 11/03 (#cnk)
*Tip* Users can automatically add the listed companies above to their personal calendar, as well as any other of their favorite stocks!