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Morning Matters:

The Week Ahead Dominated By Earnings
by Geoff Garbacz

October 22, 2018

The Russell 2000 and NASDAQ 100 were lower for the week, and the S&P 100 and the Dow Jones Industrial Average were higher. The Big Picture [monthly bias] for the NASDAQ 100, the Dow Jones Industrial Average, Russell 2000 and the S&P 100 remains positive.

The top three areas facing the market in this trading week are:

1. Geopolitical Events. On Tuesday Federal Reserve Chicago President Charles Evans, Minneapolis President Neel Kashkari and Atlanta President Raphael Bostic will speak, with no specific time posted yet. On Thursday the European Central Bank (ECB) will announce its latest interest rate decision.

2. Economic Releases. Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as new home sales, durable goods, Q3 GDP and Michigan Sentiment.

3. Earnings Releases. Notable releases this upcoming week include PHG KMB VZ MCD MSFT V AMZN GOOGL CHTR CL.

Monday, October 22:

None of note.

Tuesday, October 23:

September Industrial Production is due out at 9:15 a.m. EDT and is expected to fall to 0.2% from 0.4%.

Wednesday, October 24: September New Homes Sales are due out at 10:00 a.m. EDT and are expected to fall to 625,000 from 629,000.

The latest NYSE and NASDAQ Short Interest Data is due out after the close and covers the period from September 26th through October 11th. During that period, the S&P 500 fell -6.11%.

Thursday, October 25:

September Durable Goods are due out at 8:30 a.m. EDT and are expected to fall to -1.80% from 4.4%.

The European Central Bank (ECB) is out with its latest announcement at 7:45 a.m. EDT.

Friday, October 26:

October Michigan Sentiment is due out at 10:00 a.m. EDT and is expected to remain at 99.

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