Big tech earnings are on deck next week. Microsoft (MSFT) and Alphabet (GOOG, GOOGL) are reporting on Tuesday, October 24. Meta (META) is reporting results on Wednesday, October 25. Amazon (AMZN) is reporting on Thursday, October 26.
Outside of tech, several companies will also be reporting results. Coca-Cola (KO), Verizon (VZ), and Visa (V) are reporting on Tuesday, October 24. Boeing (BA) and T-Mobile (TMUS) are reporting results Wednesday, October 25. Ford (F), Hershey (HSY), and United Parcel Service (UPS) are some of the names reporting on Thursday, October 26.
On the economic front, the Personal Consumption Expenditures (PCE) Index for September will be released on Friday, October 27, giving further insight into the state of the consumer.
Yahoo Finance’s Josh Lipton breaks down what to watch. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Video Transcript
JOSH LIPTON: And here’s what to watch next week. All week long, we will get earnings from the biggest names in tech. Microsoft, Amazon, Alphabet, Meta, all expected to show an average 34% year-over-year jump in earnings. They are the biggest companies on the S&P 500. And the hope is that they’ll pick up the slack from other sectors as the Street expects it to stay generally flat this earnings season.
There’s a lot of other big names reporting as well outside the tech space. Automaker Ford will report on Thursday. We expect the numbers to reflect the impact of more than a month now of strikes by the UAW and shed more light on its slowing EV production.
And snack foods, Hershey and Coca-Cola, will report as well. We expect the cost to be full of questions about the rise of the use of weight loss drugs like Ozempic and Wegovy after PepsiCo was not so concerned. On the economic front, we’re going to get the latest read on the consumer with the PCE being published on Friday. It will be the last bit of data that will give economists and the Fed indications on the state of the economy ahead of the next rate decision. Wall Street estimates that consumer spending will outpace income growth again but at a slightly slower pace than the previous month.
