The U.S. government shutdown is now entering its 7th week. It is still uncertain whether the October inflation data will be released on time. Several Fed members will give public speeches this week.
As of Friday, 91% of S&P 500 companies have reported earnings, marking the near end of this earnings season. Overall earnings rose +13.1% year on year, and revenue grew +8.3%, both better than market expectations.
This week, 11 more companies will report results, including DIS, CSCO, and Chinese firms such as JD. The current forward P/E ratio of the S&P 500 is 22.7.
Key schedule for the week:
• Mon: Earnings – CRWV, OXY, RGTI.
• Tue: Veterans Day; interbank bond market closed. NFIB Optimism Index. Fed regional presidents’ speeches. Earnings – SE, OKLO.
• Wed: Six Fed regional presidents speak. Earnings – CSCO, MFC, TME, CRCL, ONON, PAAS.
• Thu: Initial jobless claims, October CPI and Core CPI, four Fed presidents’ speeches. Earnings – DIS, AMAT, JD, BILI, CSIQ.
• Fri: October PPI and Core PPI, retail and business inventory data, and two Fed presidents’ speeches.
S&P 500 large-cap earnings outlook:
• Q1–Q2 FY25: Earnings +13.3% and +12% YoY; revenue +4.9% and +6.5%.
• Q4 FY25 – Q2 FY26 (forecast): Earnings +7.5%, +11.8%, and +12.7%; revenue +7.1%, +7.7%, and +6.8%.
• FY25 total: Earnings +11.6%, revenue +6.8%.
• FY26 total: Earnings +13.7%, revenue +6.9%.
Add comment
Comments