Earnings, Economic data, and quiet Federal Reserve Board voting Members + Levels for 01.23.24
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
The Week Ahead: Earnings, Economic data, and quiet Federal Reserve Board voting Members.
By John Thorpe, Senior Broker
We have entered the FRB blackout period which always begins 8 days prior to the FOMC meeting which is currently scheduled for Jan 30-31
Tuesday After the close the biggest earnings number will be from Netflix NFLX. The forecast is for 8.8 Billion in revenue while adding 9million or more subscribers in the final quarter of 2023. Watch for surprises here as it’s clear that NFLX is the undisputed king of streaming services with a backdrop of consumers consolidating their preferences.
Wednesday after the close Look for TSLA Tesla stock to announce Q4 23 numbers with earnings forecast for .74 cents per share with Rev @ 25.6 bil. Will the current EV price war challenge the analysts estimates?
Thursday is kicked off with the ECB Rate decision @ 7:15 a m CST, expectations are to hold rates steady for the lending rates in the Eurozone. 15 minutes later @ 7:30 a.m. CST a slew of Data hits the wires.. Durable goods, GDP, Jobless claims followed by New Home Sales @ 9 a.m. CST
And ends with Intel INTC Earnings after the close. Expectations are 49 cents per share with 15.2 billion in revenue.
Friday market action will largely be reflective of the absorption the week of data and the evening of traders positions before the weekend.
Make it a solid week and always, “plan the trade and trade the plan”
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