The US Week Ahead: Square, Disney and Activision Blizzard

by from interactive investor |

Third quarter earnings season continues stateside. To date, two-thirds of the S&P 500 has reported results, with almost 80% beating earnings per share estimates and over 60% beating revenue forecasts!

The corporate calendar is lighter than recent weeks, but noteworthy after-hours updates are expected from fintech payment company Square on Wednesday, followed by worldwide entertainment company Walt Disney Co and "Call of Duty" and other video games maker Activision Blizzard on Thursday.

The highest profile US economic event of the week is the Federal Reserve interest rate decision, which follows the FOMC two-day meeting, on Thursday. 

Economic data from the US - namely Initial Jobless Claims also on Thursday - may help maintain expectations that the Fed will raise interest rates once more in 2018. CME Group's FedWatch tool currently indicates a 92.8% chance that the target rate will remain at 200 to 225 basis points (bps) in November and a 69.1% probability of a 25bps increase in December.

Reminder: US Daylight Savings Time ends on Sunday 4th November, so the opening bell in New York will strike at 14:30 GMT as usual again from Monday.

Large-cap companies reporting Monday through Friday include:

Monday 5 November

•    Booking Holdings Inc. (BKNG) 
•    Marriott International (MAR)
•    Ferrari N.V. (RACE)  

Tuesday 6 November

•    Eli Lilly and Co (LLY) 
•    CVS Health Corp (CVS)
•    Regeneron Pharmaceuticals Inc (REGN)  
•    Ralph Lauren Corp (RL)

Wednesday 7 November

•    Qualcomm Inc (QCOM) 
•    Twenty-First Century Fox Inc (FOXA) 
•    Keurig Dr Pepper Inc (KDP) 
•    Square Inc (SQ) 
•    Liberty Global (LBTYA) 
• International Ltd ADR (CTRP)

Thursday 8 November

•    Walt Disney Co (DIS) 
•    Activision Blizzard Inc (ATVI) 


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