The Week Ahead: Fed Speakers, Housing Permits, Earnings….
By Senior Broker, John Thorpe
This is the last week for Fed policy makers to “Stir the Drink” before the communication’s blackout period that begins at midnight Saturday the 21st and runs through Nov. 2nd. the Rate decision will be announced on Nov. 1 In lieu of that, the Fed Fund futures market has been bouncing around between 80 and 93% probability of a no change decision.
There will be no less than 8 fed speakers for the remainder of this week, Wednesday will be the heavy day with 5 .
Wednesday will also feature Housing starts and permits @ 7:30 CDT, with the Beige Book @ 1PM. Earnings reports will be picking up as well with TSLA reporting after the close on Wednesday with Analysts expect the company’s Q3 2023 revenue to rise 13% year-over-year to $24.3 billion.
However, they project adjusted earnings per share (EPS) to decline by about 30% to $0.73 due to lower margins. NFLX will also be reporting after the close As a group, industry analysts expect Netflix to report third-quarter earnings of $3.49 per share (+12.6% YoY) on revenue of $8.5 billion (+9.0% YoY).
Wednesday should provide plenty of excitement for traders in the Stock Indices , Bonds and precious metals markets.
Thursday brings the Philly Fed and Jobless claims both earmarks for the Fed Folks to watch, ponder and 7;30 CDT is blast off time in the markets for these two numbers. react to. Econoday.com’s consensus is here
Existing Home sales released at 9am CDT are expected to report Year over year sales greater than -16%
Watch your blindside and expect more volatility!
Plan your trade and trade your plan.
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10-18-2023
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