Tesla, Netflix earnings, Spirit Airlines shareholder vote, top existing home sales next week

Investors brace for another wave of corporate earnings and economic data. Additionally, Wall Street will be watching developments in a key shareholder vote in JetBlue Airways’ proposed merger with Spirit Airlines.

On Friday, US stocks closed a wild week with losses for all three major benchmarks. For the week, the Dow Jones Industrial Average posted a 1.3% gain, while the S&P 500 and Nasdaq Composite fell 1.5% and 3%, respectively.

Teleprinter Security Last To change To change %
Me: DJI DOW JONES AVERAGES 29634.83 -403.89 -1.34%
SP500 S&P500 3583.07 -86.84 -2.37%
I: COMP NASDAQ COMPOSITE INDEX 10321.388223 -327.76 -3.08%

FOX Business takes a look at the next events likely to move Financial markets in the coming days.

STOCK MARKET NEWS: DOW FALLS 400 POINTS, 10-YEAR TREASURY YIELD REACHES 4%, WEEKLY OIL SLIDE

Monday 10/17

Kicking off the week will be given by Bank of America, Bank of New York Mellon and Charles Schwab before the market opens.

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BAC BANK OF AMERICA CORP. 31.75 +0.07 +0.22%
BK THE BANK OF NEW YORK MELLON CORP. 38.41 -0.80 -2.04%
SCHW THE CORP. CHARLES SCHWAB. 69.06 -4.98 -6.73%

On the economic data side, investors will focus on the Empire State’s manufacturing index.

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WMT WALMART INC. 130.43 -1.85 -1.40%
WBA WALGREENS BOOTS ALLIANCE INC. 33.24 -0.41 -1.22%

Other notable events include the deadline for 19 million Americans who have requested extensions to file their income taxes, Walmart and Walgreens selling over-the-counter hearing aids, and the Sam’s Club raising its Club membership fees. for the first time in nine years and Plus membership fees for the first time since its launch in 1999.

tuesday 10/18

Profits will rise on Tuesday with Albertsons, Goldman Sachs, Hasbro, Johnson & Johnson and State Street Corp. before the market opens.

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AIT ALBERTSONS COMPANIES 26.21 -2.42 -8.45%
GS THE GOLDMAN SACHS GROUP INC. 300.36 -7.06 -2.30%
HAS HASBRO INC. 66.60 -1.49 -2.19%
JNJ JOHNSON & JOHNSON 164.46 -0.69 -0.42%
STT STATE STREET CORP. 61.12 -2.36 -3.72%

Big names in the spotlight after the bell include Netflix, United Airlines JB Hunt Transportation Services and Interactive Brokers Group.

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NFLX NETFLIX INC. 230.00 -2.51 -1.08%
LAU UNITED AIRLINES HOLDINGS INC. 35.47 +0.07 +0.20%
JBHT JB HUNT TRANSPORTATION SERVICES INC. 163.20 -3.02 -1.82%
IBKR INTERACTIVE BROKERS GROUP INC. 68.42 -2.23 -3.16%

On the economic data front, investors will consider industrial production and the National Association of Homebuilders’ housing market index. Minneapolis Fed President Neel Kashkari participates in an economics panel and question-and-answer session before the Minnesota Women Corporate Directors Chapter.

STOCK MARKET TO SEE MORE PAIN BEFORE REACHING BOTTOM, BOFA WARNS

Wednesday 10/19

Abbott Labs, Ally Financial, M&T Bank, Procter & Gamble and Winnebago will be among the companies to report quarterly results before market open on Wednesday.

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ABT ABBOTT LABORATORIES 101.05 -1.40 -1.37%
ALLY ALLY FINANCIAL INC. 29.25 -0.92 -3.05%
MTB M&T BANK CORP. 185.56 -1.68 -0.90%
PG PROCTER & GAMBLE CO. 125.08 -1.23 -0.97%
WGO WINNEBAGO INDUSTRIES INC. 55.95 -1.03 -1.81%

Meanwhile, IBM, Tesla, Alcoa, Equifax and WD-40 will be among the companies targeted after the bell.

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IBM INTERNATIONAL BUSINESS MACHINES CORP. 120.04 -1.75 -1.44%
TSLA TESLA INC. 204.99 -16.73 -7.55%
AA ALCOA CORP. 38.35 -2.53 -6.19%
EFX EQUIFAX INC. 159.23 -5.70 -3.46%
WDFC WD-40CO. 169.07 -3.65 -2.11%

Wednesday’s economic data will include housing starts and building permits, weekly mortgage applications and weekly crude inventories from the Energy Information Administration.

Additionally, Minneapolis Fed President Neel Kashkari will participate in a Q&A session on “Inflation, Interest Rates, and the State of the U.S. Economy” before a town hall of Travelers employees. Institute and Chicago Fed President Charles Evans will participate in a lively session. question-and-answer session on current economic conditions and monetary policy hosted by the Jefferson Scholars Foundation.

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JBLU JETBLUE AIRWAYS CORP. 6.67 0.00 0.00%
TO REGISTER SPIRIT AIRLINES INC. 7:43 p.m. -0.22 -1.12%

Spirit Airlines shareholders will also vote on JetBlue Airways Acquisition of the airline for 3.8 billion dollars agreed in July. JetBlue and Spirit expect to complete the regulatory process and close the transaction no later than the first half of 2024.

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Thursday 10/20

The parade of results will continue Thursday with American Airlines, AT&T, Blackstone, Danaher, Philip Morris, Quest Diagnostics and Union Pacific among the companies reporting ahead of the market open.

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AAL AMERICAN AIRLINES GROUP INC. 13.11 +0.06 +0.46%
J AT&T INC. 15.01 -0.10 -0.66%
Bx BLACK STONE 84.16 -2.21 -2.55%
HRD DANAHER CORP. 253.71 -3.56 -1.38%
PM PHILIP MORRIS INTERNATIONAL INC. 85.33 -1.92 -2.20%
DGX QUEST DIAGNOSTICS INC. 126.11 +0.40 +0.32%
UNP UNION PACIFIC CORP. 193.79 -2.95 -1.50%

Meanwhile, Snap Inc, Whirlpool, Boston Beer and Tenet Healthcare will be among the most profitable companies after the bell.

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INSTANTANEOUS SNAP INC. 9.99 -0.59 -5.58%
WHR WHIRLPOOL CORP. 139.21 -4.12 -2.87%
SAT BOSTON BEER CO. INC. 350.97 -20.11 -5.42%
THC TENET HEALTHCARE CORP. 52.06 -2.01 -3.72%

Economic data on the record for Thursday will include existing home sales, the Philadelphia Fed’s manufacturing index, the Conference Board’s index of leading economic indicators and the latest initial and continuing jobless claims. Philadelphia Fed President Patrick Harker will also speak on the economic outlook before the Greater Vineland Chamber of Commerce.

Friday 10/21

The week will end with earnings from American Express, HCA Healthcare, Huntington Bancshares, Regions Financial, Schlumberger and Verizon before the market opens on Friday.

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AXP AMERICAN EXPRESS CO. 137.13 -4.46 -3.15%
HCA HCA HEALTH CARE INC. 201.47 -4.53 -2.20%
RF FINANCIAL SOCIETY OF THE REGIONS 20.68 -0.20 -0.96%
SLB SCHLUMBERGER S.A. 42.17 -2.01 -4.55%
VZ VERIZON COMMUNICATIONS INC. 36.38 -0.02 -0.04%

New York Fed President John Williams will also deliver a keynote address ahead of the “Skilling the Gap: Building Local Talent for In-Demand Careers” event hosted by the Berkshire Taconic Community Foundation, the Columbia-Greene Community College and the Colubmia and Green County Economic Development Commissions.

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