Investors on Wall Street in the week ahead will focus on monthly US retail sales data, industrial production data and a key speech by Federal Reserve chairman Jerome Powell.
The reports on US retail sales for September, on industrial production and housing starts are due on October 17. These reports will be followed by Federal Reserve chairman Jerome Powell’s speech on October 19 ahead of the next FOMC meeting.
Q3 Earnings
In the week ahead, earnings reports of following companies are slated to be released – Charles Schwab, Equity LifeStyle Properties, Johnson & Johnson, Bank of America, Lockheed Martin, Goldman Sachs, Tesla , Procter & Gamble, Abbott Laboratories, Netflix, Morgan Stanley, Philip Morris International, Union Pacific, AT&T, CSX, Taiwan Semiconductor Manufacturing, American Airlines Group, American Express, and Schlumberger.
Corporate events
Baidu to hold its Baidu World 2023 event in Beijing next week. The company would release multiple AI-native applications and introduce the latest progress in foundation models.
Other scheduled events include — Charles Schwab’s Fall Business Update, Equillium’s Analyst & Investor Day, and Jefferies Financial Group’s Investor Meeting.
On Wall Street on Friday, US stocks mostly fell on inflation concerns and worries over the conflict between Israel and Hamas.
The S&P 500 lost 21.83 points, or 0.5%, at 4,327.78. The Dow Jones Industrial Average edged up by 39.15, or 0.1%, at 33,670.29. The Nasdaq composite dropped 166.98, or 1.2%, at 13,407.23.
The yield on the 10-year treasury fell at 4.63% from 4.70%.
The US dollar fell at 149.50 Japanese yen from 149.84. The euro slipped at $1.0511 from $1.0527.
On Friday, the US crude oil benchmark for November delivery rose $4.78 at $87.69 a barrel. Brent crude for December delivery added $4.89 at $90.89 a barrel.
Gold for December delivery fell $58.50 at $1,941.50 an ounce. Silver for December delivery rose 94 cents at $22.90 an ounce.
In overseas stock markets, indexes were lower across Europe after much of Asia.
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Updated: 15 Oct 2023, 08:52 PM IST