Stocks are already at record highs thanks to the parting of the debt ceiling clouds. The S&P 500 is trading at nearly 20 times trailing earnings. Given those conditions, it seems difficult to believe that stocks could rise much higher the last couple months of the year. However, strong third-quarter earnings could prolong this rally a bit further.
McDonald’s (MCD) didn’t help matters much this morning, reporting flat sales and weak fourth-quarter guidance. It was the fast-food giant’s fourth straight quarter of disappointing sales, and it sent McDonald’s shares tumbling 1% today.
As earnings move toward the front of investors’ minds, here are the other companies scheduled to report this week – starting with Netflix’ (NFLX) after-hours report later this afternoon:
- Texas Instruments (TXN)
- AT&T (NYSE:T)
- Bristol-Myers Squibb (BMY)
- Caterpillar (CAT)
- Dr. Pepper Snapple (DPS)
- U.S. Airways (LCC)
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