Sentiment heading into earnings could not be more shot through with doubt and unease. Bancorp (USB)ĭelta Air Lines is one of the headliners outside of the financial sector. Thursday, October 13 – BlackRock (BLK), Delta Air Lines (DAL), Domino’s Pizza (DPZ), Taiwan Semiconductor (TSM)įriday, October 14 – Citigroup (C), JPMorgan Chase (JPM), Morgan Stanley (MS), Wells Fargo (NYSE:WFC), U.S. Wednesday, October 12 – PepsiCo (PEP) and Duck Creek Technologies (DCT). Tuesday, October 11 – VOXX International (NASDAQ:VOXX). Wall Street’s next test emerges this week in the shape of corporate earnings, and really it’s all about the lenders as the Q3 reporting season kicks off, all eyes turning to Friday when the Morgans’ (Messrs JPMorgan & Stanley) join the big money banks like Citi and Wells Fargo on the frontline. Last week’s surprise RBA tilt at a more dovish cash rate rise – pulling out the more gentler 25bp stock – gave local stocks a positive nudge and even prompted sexy talk of a double bottom for local indices, although the same 5% gains seen last week for the ASX 200 were spotted during both the dot.com debacle and the GFC, so maybe don’t bet the house that arse-end of this ride is over. Good economics data has become bad news for the stock markets these days as they heighten the likelihood of a more aggressive Fed stance.
This week features some furious Fedspeak with Brainard, Evans and Bowman just a few of the names headlining a mozzarella of monetary messaging, likely with a distinct hawkish flavour. The US job openings beat expectations to end the week, but that only fueled fears of more money management on the part of The Fed. Local shares are poised to open lower on Monday with the ASX 200 November futures contract pointing down by 0.9% at 8am Eastern daylight.įriday rattled Wall St, with all major US indices down and depressed and wondering really what the hell they’re supposed to do next. US Q3 earnings to kick off with a big bank focus.
Wall St struggled on Friday despite/because of robust jobs data.SPI Futures imply the ASX 200 will start the day 1% lower.
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