Verizon, American Express, Schlumberger Earnings: 3 Things to Watch
By Liz Moyer
Investing.com -- Stocks dropped on Thursday despite strong corporate earnings as investors continued to take risk off the table amid rising interest rates.
Investors have been worried that the Federal Reserve's aggressive campaign to cool the economy would tip it into a recession, but the job market remains tight, with jobless claims falling again last week.
Meanwhile, companies continue to report third quarter earnings, with a mix of earnings beats and disappointments. Several companies have talked about the pressure the strong U.S. dollar is having on their results, and some have reported narrower profit margins as pandemic challenges such as supply chain issues persist. Tesla Inc (NASDAQ:TSLA) slightly missed expectations on sales and said a lack of boats and trains to deliver its vehicles led to a late quarter delivery bottleneck.
Next week, in addition to the latest update on gross domestic product, investors will get their next round of data on personal savings and personal income, along with inflation. The Fed will be taking it all in as they head to their next policy meeting, scheduled for early November.
Here are three things that could affect markets tomorrow:
1. Verizon earnings
Telecommunications giant Verizon Communications Inc (NYSE:VZ) is expected to report earnings of $1.29 a share on revenue of 33.8 billion. Analysts will be listening for what it says about subscribers and 5G.
2. American Express earnings
Card company American Express Company (NYSE:AXP) is expected to report profit of $2.41 a share on revenue of $13.5 billion. Analysts will be listening for signs of business and entertainment spending.
3. Schlumberger earnings
Schlumberger NV (NYSE:SLB) is expected to report earnings of 55 cents on revenue of $7.1 billion.
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Verizon, American Express, Schlumberger Earnings: 3 Things to Watch
