Today is an official holiday: either Columbus Day (depending on how Italian-American your community is) or Indigenous People’s Day (depending on how “woke”). Either way, the stock market is open for trading, but no major economic reports will be released until tomorrow. Currently, pre-market futures are mixed: the Dow Jones is -80 points, but the S&P 500 +9, the Nasdaq +63 and the small-cap Russell 2000 are up slightly.

Looking ahead to economic reports

Despite today’s day off in econometrics, we see quite a busy week ahead. Tuesday promises Empire State Manufacturing for October, Wednesday brings us September imports/exports, and Thursday is the biggest of them all: retail sales, Philly Fed, industrial production/capacity utilization, corporate inventories, homebuilder confidence, and weekly unemployment claims. Friday brings new results on the start of housing and building permits for September.

Third quarter earnings numbers are rising: Citi, J&J, Netflix and more

A continuation of the previous stretch of third quarter earnings season, following the Big Banks on Friday and a pair of quarterly reports over the past week. One of the most important of these reports will be released Thursday afternoon Netflix NFLX reports earnings.

Netflix is ​​expected to return +36% earnings per share year over year. Earnings are estimated at +14% for the streaming giant Zacks Rank #2 (Buy), which is looking for its third straight gain. Netflix has reported earnings twice in the past twelve quarters.

More of the biggest Wall Street banks are also reporting this week, including Bank of America B.A.C., Citi Group C and Goldman Sachs GS. Furthermore, Johnson & Johnson JNJ, United Healthcare UNH, Procter & Gamble PG and Walgreens Boots Alliance WBA will publish new quarterly figures this week.

We’ll really see third-quarter earnings season get underway in a week, but a good percentage of high-cap stocks reporting this week makes it a substantial trading period. We will also monitor a proposed new stimulus offer to boost Chinese equities; the aftermath of two major hurricanes hitting the Southeast and ongoing violence in the Middle East and Ukraine will be worth keeping an eye on. Plus, the general election is now three weeks away.

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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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