Top 5 things to watch in markets in the week ahead
Investing.com — Geopolitical tensions remain to the fore, while earnings and U.S. retail sales data will give an insight into the health of the consumer. Federal Reserve Chairman Jerome Powell is to speak while economic data out of China and the U.K. will be closely watched. Here’s what you need to know to start your week.
Third quarter earnings season picks up steam, with several major U.S. companies due to report results in a season expected to show an improvement in profit growth after a tepid first half.
Tesla (NASDAQ:TSLA) kicks off earnings for the megacaps after the close on Wednesday. These companies' shares have been central drivers of the rally in equity markets so far this year.
Bank of America (NYSE:BAC) and Goldman Sachs (NYSE:GS) are both set to report ahead of the open on Tuesday and several regional banks are also to report during the coming week.
On Friday, JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC) and Citigroup (NYSE:C) reported quarterly profits that outstripped analysts' estimates boosted by higher interest rates.
Other big names include healthcare giant Johnson & Johnson (NYSE:JNJ), reporting ahead of Tuesday’s market open, consumer products giant Procter & Gamble (NYSE:PG) ahead of Wednesday’s open, Netflix (NASDAQ:NFLX) after Wednesday’s close and Philip Morris (NYSE:PM) ahead of the open on Thursday.
Aside from earnings, U.S. retail sales figures for September, due on Tuesday, will give investors insight into the strength of consumer spending, which drives around two-thirds of the economy.
Economists are expecting retail sales to have risen 0.2% last month. A stronger-than-expected reading could stir fears of a rebound in inflation and add to the view that the Federal Reserve will need to
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