A VERY Busy Week Ahead
Earnings Preview 10/29/10
Earnings season might be more than halfway through, but that does not mean a slowdown in the earnings parade. Next week, a total of 1,128 firms will report, including 100 of the S&P 500 firms. So far this has been a very strong earnings season, but there are still plenty of important firms that have yet to show their hands. The firms reporting next week include Pfizer (PFE), Mastercard (MA), Hartford Insurance (HIG), Devon Energy (DVN), Time Warner (TWX) and Kraft Foods (KFT).
Earnings will be far from the only thing for the markets to be concerned about next week. We have the mid-term elections and we will find out if the Fed will launch another round of quantitative easing, and if so, how big the program will be. There is also a very heavy calendar of economic data due out, starting with Personal Income and Spending on Monday, and ending with the all-important jobs report on Friday.
We also get both ISM indexes, the construction spending report, Auto sales, and the first read on productivity in the third quarter.
Monday
* Personal Income is expected to have increased by 0.3% in September, down from a 0.3% increase in August. At the same time, Personal Spending is expected to have risen at the same 0.4% pace it rose in August. Of course, if spending is rising faster than income, it implies a fall in the… Read the rest