Close

Bank of America reports, Johnson&Johnson, retail sales: 3 things to watch

October 16, 2023 3:58 PM EDT

Investing.com -- Stocks surged on Monday as investors turned their attention to a wave of earnings reports from big banks, big tech firms such as Netflix (NASDAQ: NFLX), and Tesla (NASDAQ: TSLA) this week.


Investors will be listening to what company CEOs say about the state of the economy heading into the final months of the year, with expectations that consumer spending is softening just before the retail sector's crucial holiday sales season.


Media companies will also be in focus as Netflix reports its latest numbers on streaming, updates on its ad-supported tier, and gives guidance on upcoming quarters. Streaming companies have been battling to win over new subscribers and keep their existing subscribers satisfied amid an ongoing strike by Hollywood actors that has interrupted production.


Later this week, Federal Reserve Chair Jerome Powell is expected to appear at an event sponsored by the Economic Club of New York, and investors will be listening for any hints on the next direction of policy.


This week also includes a spate of housing data, plus retail sales for September, and new data on jobless claims for the prior week.


Here are three things that could affect markets tomorrow:


1. Bank of America earnings


Bank of America Corp (NYSE: BAC) is expected to report earnings per share of 82 cents on revenue of $25.1 billion, while Wall Street firm Goldman Sachs Group Inc (NYSE: GS) is expected to report earnings of $5.54 a share on revenue of $11.2 billion.


2. Johnson&Johnson reports


Pharmaceutical giant Johnson&Johnson (NYSE: JNJ) is expected to report earnings per share of $2.51 on revenue of $21 billion.


3. Retail sales


September retail sales are due out at 8:30 ET (12:30 GMT). Analysts expect a gain of 0.3% from August, and core sales are expected to climb 0.2% for the month.



You May Also Be Interested In





Related Categories

General News, Investing

Related Entities

Earnings