US corporate giants' Q3 earnings results in focus

Today is a holiday: either Columbus Day (depending on how Italian-American your community is) or Indigenous Peoples Day (depending on how “woke” you are). In any case, the stock market is open for trading, but there are no major economic reports due until tomorrow. Currently, pre-market futures are mixed: the Dow is at -80 points, but the S&P 500 +9, the Nasdaq +63 and the small-cap Russell 2000 are up slightly.

Outlook on economic reports

Despite today being an economic day off, we're expecting a pretty busy week. Tuesday brings us October Empire State Manufacturing, Wednesday brings us September Import/Export, and Thursday is the biggest of them all: Retail Sales, Philly Fed, Industrial Production/Capacity Utilization, Business Inventories, Homebuilder Confidence and Weekly Jobless Claims. Friday brings new results on construction starts and building permits for September.

Third Quarter Earnings Rise: Citi, J&J, Netflix and More

Continuing the earlier phase of third-quarter earnings season, we're tracking results from the big banks on Friday, as well as a smattering of quarterly reports last week. The most important of these reports will come on Thursday afternoon Netflix NFLX reports earnings.

Netflix is ​​expected to post earnings per share of +36% year-over-year. The streaming giant Zacks Rank #2 (Buy) is estimated to be up +14% as it hopes to post its third straight earnings beat. Netflix has lost profits twice in the last 12 quarters.

More of the largest Wall Street banks are also reporting this week, including Bank of America BAC, Citigroup C and Goldman Sachs G.S. Further, Johnson & Johnson JNJ, UnitedHealthcare UNH, Procter & Gamble PG and Walgreens Boots Alliance The WBA is publishing new quarterly figures this week.

We'll really see third-quarter earnings season begin in a week, but a good percentage of large-cap stocks reporting this week make it a significant trading period. We will also keep an eye on a proposed new stimulus plan to boost Chinese stocks. The aftermath of two major hurricanes in the Southeast and ongoing violence in the Middle East and Ukraine will be worth keeping an eye on. There will also be a general election tomorrow in three weeks.

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The Goldman Sachs Group, Inc. (GS): Free Stock Analysis Report

Bank of America Corporation (BAC): Free Stock Analysis Report

Citigroup Inc. (C): Free stock analysis report

The story continues

UnitedHealth Group Incorporated (UNH): Free stock analysis report

Johnson & Johnson (JNJ): Free stock analysis report

Netflix, Inc. (NFLX): Free Stock Analysis Report

Procter & Gamble Company (The) (PG): Free stock analysis report

Walgreens Boots Alliance, Inc. (WBA): Free Stock Analysis Report

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