After Hours Report

The S&P 500 fell 0.5% on Wednesday, pressured by growth concerns, profit-taking activity, and a flush of selling interest into the close. Microsoft (MSFT 323.17, +13.06, +4.2%) and Alphabet (GOOG 2928.55, +135.11, +4.8%) mitigated the decline with strong gains following their earnings reports.

The Nasdaq Composite (unch) was relatively unchanged, while the Dow Jones Industrial Average (-0.7%) and Russell 2000 (-1.9%) closed lower. 

For a more accurate representation of the market, the Invesco S&P 500 Equal Weight ETF (RSP 156.45, -2.11) fell 1.3%, nine of the 11 S&P 500 sectors closed lower with energy (-2.9%) being the weakest link, and declining issues outpaced advancing issues by more than a 2:1 margin at the NYSE and Nasdaq. 

The communication services (+1.0%) and consumer discretionary (+0.2%) sectors closed higher, largely due to Alphabet, Amazon.com (AMZN 3392.49, +16.42, +0.5%), and Tesla (TSLA 1037.86, +19.43, +1.9%).

While the S&P 500 traded flat for most of the day, growth concerns were burgeoning in the Treasury market in the form of startling curve-flattening activity. The 2-yr yield increased three basis points to 0.48% while the 10-yr yield dropped nine basis points to 1.53%.  The U.S. Dollar Index declined 0.1% to 93.89.

The increase in the 2-yr yield suggested that investors continued to increase bets that the Fed would hike rates sooner than expected due to inflation. In turn, fears that the economy could be adversely affected by a policy mistake likely contributed to the price action in longer-dated yields, further exacerbated by short-covering activity. 

This narrative wasn't kind to the cyclical stocks, especially bank stocks with the compression in yields. The SPDR S&P Bank ETF (KBE 54.79, -1.85) fell 3.3%, versus the 1.7% decline in the S&P 500 financials sector. Oil prices ($82.68, -1.97, -2.3%) were further pressured by bearish inventory data.

Aside from the two mega-caps, Dow components Visa (V 215.78, -16.04, -6.9%), Coca-Cola (KO 55.52, +1.05, +1.9%), McDonald's (MCD 242.73, +6.31, +2.7%), and Boeing (BA 206.61, -3.20, -1.5%) also reported earnings. V and BA closed lower, while KO and MCD closed higher.  

Separately, lawmakers continued to disagree on the contents of a spending package while an FDA Advisory panel recommended the Pfizer (PFE 42.97, -0.59, -1.4%)-BioNTech (BNTX 278.77, -13.62, -4.7%) COVID-19 vaccine for children 5-11 years old. 

Reviewing Wednesday's economic data:

• Total durable goods orders declined 0.4% month-over-month in September (Briefing.com consensus -0.8%) and orders, excluding transportation, rose 0.4% (Briefing.com consensus +0.5%). On a year-over-year basis, total durable goods orders were up 23.4%. Excluding transportation, they were up 17.3%.
  • The key takeaway from the report is embedded in the line for nondefense capital goods orders, excluding aircraft, which is a proxy for business spending. That line showed a 0.8% increase on top of a 0.5% increase in August, underscoring that there was a pickup in business spending activity in September.
• The Advance report for International Trade in Goods for August showed a deficit of $96.3 billion, versus a revised $88.2 billion (from $87.6 billion) in August. The Advance report for Retail Inventories for September decreased 0.2%, while the Advance report for Wholesale Inventories for September increased 1.1%.
• Weekly crude oil inventories increased by 4.27 mln barrels after decreasing by 431,000 barrels during the previous week.

Looking ahead, investors will receive the advance estimate for Q3 GDP, weekly Initial and Continuing Claims, and Pending Home Sales for September on Thursday.

• S&P 500 +21.2% YTD
• Nasdaq Composite +18.2% YTD
• Dow Jones Industrial Average +16.0% YTD
• Russell 2000 +14.1% YTD

Overseas: 

• Europe: DAX -0.3%, FTSE -0.3%, CAC -0.2%
• Asia: Nikkei flat, Hang Seng -1.6%, Shanghai -1.0%

Commodities: 

• Crude Oil -2.41 @ 82.18
• Nat Gas +0.35 @ 6.22
• Gold +5.80 @ 1800.20
• Silver +0.04 @ 24.24
• Copper -0.09 @ 4.40

After-Hours Spotlight:

• 3D Systems (DDD) announces acquisition of Volumetric Biotechnologies for total purchase price of up to $400 mln... DDD up 4.4%
• Align Tech (ALGN) shares findings from new clinical study that validates the significant benefits of the iTero Element 5D imaging system as an aid in detection and monitoring of interproximal caries lesions... ALGN up 6.6%
• eBay (EBAY) beats by $0.02, beats on revs, GMV down 10%; guides Q4 EPS in-line, revs below consensus... EBAY down 5.0%
• Edwards Lifesciences (EW) beats by $0.01, reports revs in-line; guides Q4 EPS in-line, revs below consensus... EW down 4.0%
• Ford Motor (F) beats by $0.24, beats on revs; increases guidance for FY21 adjusted EBIT to $10.5-11.5 bln; semiconductor availability remains a challenge, but markedly improved from Q2... F up 9.1%
• KLA Corporation (KLAC) beats by $0.14, beats on revs; guides Q2 EPS in-line, revs in-line... KLAC up 3.8%
• Lending Club (LC) reports Q3 (Sep) results, beats on revs... LC up 13.2%
• O'Reilly Auto (ORLY) beats by $0.91, beats on revs, comps +6.7%; guides FY21 EPS above consensus, revs above consensus, raises FY21 comp guidance... ORLY up 0.1%
• ServiceNow (NOW) beats by $0.16, beats on revs... NOW down 4.6%
• Sleep Number (SNBR) beats by $0.78, beats on revs; guides FY21 EPS above consensus... SNBR up 9.8%
• Starbucks (SBUX) Announces significant investment in wage to recognize and reward tenured partners while also increasing pay floor; U.S. hourly partners will average nearly $17/ hr. with new range of $15-$23 for baristas in Summer 2022... SBUX up 0.2%
• Teladoc (TDOC) beats by $0.09, reports revs in-line; guides Q4 EPS in-line, revs in-line... TDOC down 4.6%
• Twilio (TWLO) beats by $0.15, beats on revs; guides Q4 EPS below consensus, revs above consensus... TWLO down 10.4%
• Tyler Tech (TYL) beats by $0.24, beats on revs; raises FY21 EPS, revs above consensus... no indication for TYL
• Upwork (UPWK) beats by $0.02, beats on revs; guides Q4 EPS below consensus, revs above consensus... UPWK down 6.7%
• Wolfspeed (WOLF) beats by $0.03, beats on revs; guides Q2 EPS above consensus, revs above consensus... WOLF up 13.3%
• Xilinx (XLNX) beats by $0.16, beats on revs... XLNX up 2.3%

Fair Value for Thursday, October 28:

• S&P 500: 4,543
• Nasdaq 100: 15,585
• DJIA: 35,370

Today's News Summary:

For a full rundown of today's market and after hours developments, see Live In Play

• Earnings/Guidance (Full Earnings Calendar):
  • ACCO Brands (ACCO) misses by $0.01, reports revs in-line; guides FY21 EPS in-line, revs in-line; increases dividend
  • Advanced Micro (AMD) beats by $0.07, beats on revs; guides Q4 revs above consensus
  • Aerojet Rocketdyne (AJRD) beats by $0.11, reports revs in-line
  • Agilysys (AGYS) misses by $0.16, misses on revs; reiterates FY22 revs in-line
  • Alkermes (ALKS) beats by $0.04, misses on revs; reaffirms FY21 EPS guidance, revs guidance
  • Alphabet (GOOG) beats by $4.62, beats on revs, Google advertising revenue up 43% yr/yr, Google Cloud revenue up 45%
  • Ameriprise Financial (AMP) beats by $0.42, reports revs in-line
  • Applied Industrial (AIT) beats by $0.17, beats on revs; reaffirms FY22 EPS guidance, revs guidance
  • Automatic Data (ADP) beats by $0.16, beats on revs; guides FY22 EPS above consensus, revs above consensus
  • AVANGRID (AGR) beats by $0.05, beats on revs; reaffirms FY21 EPS guidance
  • Avery Dennison (AVY) beats by $0.13, beats on revs; raises FY21 EPS guidance in-line
  • Bandwidth (BAND) sees Q3 revs above consensus; provides update on impact of DDoS attack from Q4
  • Boeing (BA) misses by $0.46, misses on revs, commercial market demand continues to gain traction
  • Boston Properties (BXP) beats by $0.03, beats on revs
  • Boston Scientific (BSX) beats by $0.01, misses on revs; guides FY21 EPS in-line, revs below consensus
  • Boyd Gaming (BYD) beats by $0.04, reports revs in-line; authorizes $300 mln share repurchase program
  • Brinks (BCO) beats by $0.31, beats on revs; guides FY21 EPS above consensus, revs in-line
  • Bristol-Myers (BMY) beats by $0.08, reports revs in-line; guides FY21 EPS in-line
  • Bunge (BG) beats by $2.30, beats on revs; raises FY21 EPS above consensus; new $500 mln buyback program
  • Camtek (CAMT) beats by $0.04, reports revs in-line; guides Q4 revs above consensus
  • Capital One (COF) beats by $1.70, beats on revs
  • Chefs' Warehouse (CHEF) beats by $0.04, beats on revs
  • C.H. Robinson (CHRW) beats by $0.43, beats on revs
  • Chubb (CB) beats by $0.34, beats on revs
  • CME Group (CME) beats by $0.04, misses on revs
  • Coca-Cola (KO) beats by $0.07, beats on revs; guides FY21 EPS in-line, revs in-line
  • Constellium (CSTM) beats by EUR 0.44, beats on revs
  • CoStar Group (CSGP) beats by $0.02, reports revs in-line; guides Q4 EPS in-line, revs below consensus
  • Deutsche Bank (DB) reports Q3 results; beats on revs
  • Driven Brands (DRVN) beats by $0.04, beats on revs; guides FY21 EPS above consensus, revs in-line
  • DTE Energy (DTE) misses by $0.09; raises FY21 EPS in-line; guides FY22 EPS in-line
  • Dynatrace (DT) beats by $0.02, beats on revs; guides Q3 EPS in-line, revs in-line
  • EastGroup (EGP) beats by $0.07, beats on revs; guides FY21 FFO above consensus
  • Enphase Energy (ENPH) beats by $0.11, beats on revs; guides Q4 revs above consensus
  • Equinor (EQNR) reports Q3 results; beats on revs
  • Equity Residential (EQR) beats by $0.02, beats on revs; guides Q4 FFO in-line
  • F5 Networks (FFIV) beats by $0.26, beats on revs; guides Q1 EPS in-line, revs in-line; guides FY22 revs above consensus
  • First Commonwealth (FCF) beats by $0.04
  • Fiserv (FISV) beats by $0.02, beats on revs; guides FY21 EPS in-line
  • Fortune Brands Home & Security (FBHS) beats by $0.11, beats on revs; guides FY21 EPS below consensus
  • Garmin (GRMN) beats by $0.14, beats on revs; raises FY21 guidance
  • General Dynamics (GD) beats by $0.08, misses on revs
  • General Motors (GM) beats by $0.54 which includes benefit from battery recall agreement, slightly misses on revs; guides FY21 EPS in-line; sees FY21 EBIT at high end of prior guidance range
  • Gibraltar Industries (ROCK) misses by $0.26, misses on revs; guides Q4 EPS below consensus; lowers FY21 EPS below consensus, revs in-line
  • GlaxoSmithKline (GSK) beats by GBP0.08, beats on revs; raises FY21 outlook
  • Harley-Davidson (HOG) beats by $0.42, beats on revs; reiterates FY21 motorcycles segment guidance
  • Hawaiian Holdings (HA) beats by $0.38, misses on revs; guides Q4 revs below consensus
  • Hess (HES) beats by $0.02, beats on revs
  • Highwoods Prop (HIW) beats by $0.03, reports revs in-line; raises FY21 FFO above consensus
  • Hilton (HLT) misses by $0.06, beats on revs
  • Hudson Pacific Properties (HPP) beats by $0.02, beats on revs; guides Q4 FFO in-line
  • IDEX Corp (IEX) beats by $0.04, beats on revs; guides Q4 EPS below consensus
  • Int'l Paper (IP) misses by $0.09, misses on revs
  • Juniper Networks (JNPR) reports EPS in-line, misses on revs; guides Q4 EPS in-line, revs in-line
  • Kraft Heinz (KHC) beats by $0.07, beats on revs; provides guidance
  • Littelfuse (LFUS) beats by $0.80, beats on revs; guides Q4 EPS above consensus, revs above consensus
  • Manhattan Assoc (MANH) beats by $0.17, beats on revs; guides Q4 EPS below consensus, revs in-line
  • Masimo (MASI) beats by $0.03, beats on revs; guides FY21 EPS above consensus, revs above consensus
  • McDonald's (MCD) beats by $0.29, beats on revs; global comps grew +12.7% yr/yr
  • Microsoft (MSFT) beats by $0.19, beats on revs; Azure revenue growth of 50% yr/yr; LinkedIn revenue +42%; Surface revenue decreased -17%; guides revs above consensus
  • Monro Muffler (MNRO) beats by $0.07, beats on revs, comparable store sales increased 14.8%, to acquire 11 stores in Iowa and six stores in Southern California
  • Nabors Industries (NBR) misses by $1.73, beats on revs
  • Navient (NAVI) beats by $0.10, beats on revs
  • NCR Corp (NCR) beats by $0.05, misses on revs; guides second half 2021 outlook to low end of prior ranges
  • Norfolk Southern (NSC) beats by $0.14, beats on revs
  • NOV Inc. (NOV) reports Q3 (Sep) results, misses on revs
  • Old Dominion (ODFL) beats by $0.09, beats on revs
  • Owens Corning (OC) beats by $0.07, beats on revs
  • Penske Auto (PAG) beats by $0.81, beats on revs
  • Prosperity Bancshares (PB) beats by $0.02, beats on revs
  • Range Resources (RRC) misses by $0.02, misses on revs
  • Retail Opportunity Investments (ROIC) misses by $0.08, beats on revs; reaffirms FY21 FFO guidance
  • Robinhood Markets (HOOD) reports Q3 (Sep) results, misses on revs; guides Q4 revs below consensus
  • Rollins (ROL) misses by $0.01, beats on revs
  • Ryder System (R) beats by $0.46, beats on revs; guides FY21 EPS above consensus
  • Santander Consumer USA (SC) beats by $0.57, misses on revs
  • Silgan Holdings (SLGN) misses by $0.02, beats on revs; guides Q4 EPS in-line
  • Silicon Labs (SLAB) reports Q3 (Sep) results, beats on revs; guides Q4 revs above consensus
  • Six Flags (SIX) beats by $0.36, beats on revs
  • Spotify (SPOT) misses by $0.27, beats on revs; guides Q4 revs in-line
  • Stifel Financial (SF) beats by $0.17, beats on revs
  • Taylor Morrison Home (TMHC) beats by $0.13, beats on revs
  • Teck Resources (TECK) beats by CAD0.44, beats on revs
  • TE Connectivity (TEL) beats by $0.06, beats on revs; guides Q1 EPS below consensus, revs in-line
  • Teledyne Tech (TDY) beats by $0.65, beats on revs; guides Q4 EPS above consensus
  • Tenable (TENB) beats by $0.05, beats on revs; guides Q4 EPS below consensus, revs above consensus
  • Teradyne (TER) beats by $0.16, beats on revs; guides Q4 EPS, revs in-line
  • Teva Pharma (TEVA) misses by $0.06, misses on revs; reaffirms FY21 EPS guidance, revs guidance
  • Texas Instruments (TXN) beats by $0.03, reports revs in-line; guides Q4 EPS in-line, revs in-line
  • Thermo Fisher (TMO) beats by $1.06, beats on revs; raises FY21 EPS above consensus, revs above consensus
  • Travel + Leisure Co (TNL) beats by $0.12, beats on revs; raises FY21 EPS above consensus; mgmt to recommend Q4 dividend
  • Trustmark (TRMK) beats by $0.02, reports revs in-line; declares dividend
  • Twitter (TWTR) reports Q3 (Sep) results, revs in-line; guides Q4 revs in-line
  • UMB Financial Corporation (UMBF) beats by $0.15, misses on revs
  • United Micro (UMC) beats by $0.33, beats on revs
  • Vertiv (VRT) beats by $0.01, reports revs in-line; guides Q4 EPS in-line, revs above consensus
  • Visa (V) beats by $0.08, reports revs in-line
  • Wabtec (WAB) beats by $0.02, misses on revs; guides FY21 EPS in-line, revs below consensus
  • WesBanco Inc (WSBC) misses by $0.07, beats on revs
  • Yandex N.V. (YNDX) reports Q3 results; guides FY21 revs in-line
• General News:
  • House Speaker Nancy Pelosi (D-CA) thinks budget reconciliation framework should be enough to vote on the bipartisan infrastructure bill, but progressives say framework will not be enough to secure their votes. Democrats are hoping for deal on reconciliation bill today, but key disagreements remain including on Medicare expansion, according to CNN
  • House Speaker Nancy Pelosi (D-CA) orders rules committee to hold hearing on budget reconciliation bill tomorrow in order to pressure progressives to vote for bipartisan infrastructure bill - CNBC (this is one of the first procedural steps to pass the bill through the House)
  • Senator Kyrsten Sinema (D-AZ) says she will support 15% corporate minimum tax plan, according to CNBC
  • Wealth tax on unrealized capital gains of people with $1 bln in assets has been eliminated from budget reconciliation bill - Bloomberg
  • IRS enforcement proposal that would have required banks to report cash flow information to the IRS for accounts with over $10,000 has been removed from the budget reconciliation bill due to opposition from moderate Democrats; this would have raised $100 bln -- CNBC
  • House Democrats release corporate minimum tax plan that they hope to include in budget reconciliation bill; plan will create a 15% minimum tax on the profits that these companies report to shareholders
  • Progressive caucus leader Rep. Pramila Jayapal (D-WA) says progressives must see legislative text on budget reconciliation bill before they will vote for the bipartisan infrastructure bill, according to New York Times
  • Climate portion of budget reconciliation bill is "mostly settled" and will likely be $500-555 bln, according to Axios
  • Regulators mulling how banks can hold cryptocurrency assets, according to Reuters
  • Senator Joe Manchin (D-WV) says he is against spending money on EV charging stations, according to Greenwire
  • NRF forecasts that holiday sales during November and December will grow between 8.5-10.5% over 2020 to between $843.4-859 bln
  • US coal piles are at 24-year lows, according to Bloomberg
  • Affirm (AFRM) announces partnership with American Airlines (AAL) for flexible payments
  • Amazon's (AMZN) AWS announces general availability of Amazon EC2 DL1 instances
  • Angion Biomedica (ANGN) and Vifor Pharma report topline results from Phase 3 trial of ANG-3777 in kidney transplant patients at risk for delayed graft function
  • Associated Banc-Corp (ASB) announces $100 mln common stock repurchase authorization
  • Carvana (CVNA) and Hertz (HTZZ) announce partnership to boost online sales
  • Cortexyme (CRTX) reports data from Phase 2/3 GAIN trial evaluating atuzaginstat in patients with Alzheimer's disease; co-primary endpoints were not met in overall population
  • DBV Technologies (DBVT) provides regulatory updates from the FDA and EMA for Viaskin Peanut; FDA requests stepwise approach to DBV's mVP development program; also reports Q3 earning
  • Evercore (EVR) announces that Ralph Schlosstein will step down as Co-Chairman and Co-Chief Executive Officer, effective February 25, 2022, a role that he has shared with John Weinberg since July 2020
  • EVgo Inc. (EVGO) announces the opening of a new EV charging station comprised of six new EVgo public direct current fast chargers at Lloyd King Center, located at 6350 Sheridan Boulevard in Arvada, Colorado
  • Exxon Mobil (XOM) increases quarterly cash dividend to $0.88/share from $0.87/share
  • Facebook (FB): FTC aiming to investigate disclosures at Facebook, according to the Wall Street Journal
  • First Horizon (FHN) authorizes $500 mln increase to share repurchase program
  • Gibraltar Industries (ROCK) appoints CEO William Bosway as Chairman, effective January 1, 2022
  • InflaRx (IFRX) announces data from third cohort of Phase IIa study of vilobelimab in Pyoderma Gangraenosum
  • Ingersoll-Rand (IR) initiates quarterly dividend of $0.02 per share
  • Kymera Therapeutics (KYMR) presents new safety, pharmacokinetic and pharmacodynamic data, including cytokines, from the Single Ascending Dose portion of the KT-474 Phase 1 randomized, placebo-controlled healthy volunteer trial
  • Lennar (LEN) partnered with startup to create 3D printed homes in Austin, TX, according to the Wall Street Journal
  • Merck (MRK) and The Medicines Patent Pool enter into license agreement for molnupiravir, an investigational oral antiviral COVID-19 medicine, to increase broad access in low- and middle-income countries
  • Merck (MRK) announces Week 144 data from the Phase 2b dose-ranging study evaluating the antiretroviral activity, tolerability, and safety of islatravir in combination with doravirine compared to doravirine/lamivudine/tenofovir disoproxil fumarate in antiretroviral treatment-naïve adults with HIV-1
  • Moderna (MRNA) CEO Staphane Bancel says COVID-19 vaccine for kids 12-17 could be ready "within weeks", according to Reuters
  • Nurix Therapeutics (NRIX) announces initial data from Phase 1a dose escalation trial of NX-2127 in patients with relapsed or refractory B cell malignancies
  • NVIDIA (NVDA): EU Commission opens in-depth investigation into proposed acquisition of Arm by NVIDIA
  • Ocugen (OCGN) has submitted an Investigational New Drug application with the U.S. Food and Drug Administration to evaluate the COVID-19 vaccine candidate, BBV152, known as COVAXIN outside the United States
  • Pfizer (PFE): FDA Vaccines and Related Biological Products Advisory Committee votes 17-0 to recommend PFE COVID-19 vaccine for kids 5-11; full FDA decision is the next step, then CDC committee next week
  • Phillips 66 Partners (PSXP) enters into agreement to be acquired by Phillips 66 (PSX) in all-stock transaction
  • Raytheon Technologies (RTX) awarded $340 mln Air Force contract
  • Rockwell Automation (ROK) and The Pyure Company announce a five-year strategic agreement that will allow the companies to work together to provide solutions to improve indoor air quality and fight the spread of COVID-19
  • Royal Dutch Shell (RDS.A): Third Point takes "large" stake in Shell, urges company to separate, according to WSJ
  • SpringWorks Therapeutics (SWTX) announces an update from its ongoing clinical collaboration with GlaxoSmithKline (GSK) evaluating nirogacestat in combination with BLENREP in patients with relapsed or refractory multiple myeloma
  • Square (SQ): Justice Dept. probing Visa's (V) relationship with payment firms SQ, Stripe, and PayPal (PYPL), according to WSJ
  • Valaris (VAL) awarded two-year floater contract with Esso Exploration Angola
  • Vine Energy (VEI) announces the conclusion of the drilling phase of the longest onshore horizontal well in the State of Louisiana

(see Upgrades/Downgrades calendar for full list):

• Upgrades:
  • Abbott Labs (ABT) upgraded to Overweight from Neutral at Atlantic Equities; tgt $144
  • BancorpSouth (BXS) upgraded to Outperform from Mkt Perform at Keefe Bruyette; tgt raised to $37
• Downgrades:
  • Cloudflare (NET) downgraded to Hold from Buy at Jefferies; tgt raised to $195
  • Ecolab (ECL) downgraded to Underweight from Neutral at JP Morgan; tgt $230
• Others:
  • AppLovin (APP) initiated with a Buy at BTIG Research; tgt $114
  • Bally's Corporation (BALY) initiated with a Neutral at Goldman; tgt $52
  • DraftKings (DKNG) initiated with a Neutral at BTIG Research
  • fuboTV (FUBO) initiated with a Neutral at BTIG Research
  • ironSource (IS) initiated with a Buy at BTIG Research; tgt $15
  • Playtika (PLTK) initiated with a Buy at BTIG Research; tgt $35
  • Redbox Entertainment (RDBX) initiated with a Buy at B. Riley Securities; tgt $35
  • Roblox (RBLX) initiated with a Buy at BTIG Research; tgt $98
  • Skillz (SKLZ) initiated with a Neutral at BTIG Research
  • SmartRent (SMRT) initiated with a Buy at Goldman; tgt $18
  • Unity Software (U) initiated with a Neutral at BTIG Research
  • Zynga (ZNGA) initiated with a Buy at BTIG Research; tgt $10

Upcoming Events:

• Econ data (Thursday):
  • 08:30 ET: Advance Q3 GDP (Briefing.com consensus 2.4%; prior 6.7%) and advance Q3 Chain Deflator (Briefing.com consensus 5.5%; prior 6.1%)
  • 08:30 ET: Weekly Initial Claims (Briefing.com consensus 291,000; prior 290,000) and Continuing Claims (prior 2.481 mln)
  • 10:00 ET: September Pending Home Sales (Briefing.com consensus 1.0%; prior 8.1%)
  • 10:30 ET: Weekly natural gas inventories (prior +92 bcf)
• Earnings:
  • Monday (Oct. 25)
    • Pre-Market: AUB BOH CBU DORM FBP HNI KMB LKFN LII OTIS QSR SITC
    • After-Hours: AGNC ARE ACC AMKR AXTA BXS BDN BRO CADE CDNS CALX CATY CR CCK FB HSTM HTLF HOPE IBTX LOGI LXFR MEDP NWE OI PKG PCH RNR SSD TNET TBI UHS
  • Tuesday (Oct. 26)
    • Pre-Market:  MMM ARCH ADM ARCC AWI ABG CNC CIT CVLT GLW DAN ECL LLY ENTG FELE GE GPK GBX HAS HUBB INMD IVZ JBLU LMT HZO MSCI NVS PCAR PNR PII PHM RTX SPGI ST SHW SSTK SFNC SBSI AAN TRU TRTN TPB UBS UPS WM XRX
    • After-Hours:  ACCO AMD AGYS GOOG AMP APAM AGR BXP BYD CHRW COF CB CSGP DLR EGP WIRE ENPH EQR ESS FFIV FCF FIBK FBHS FCPT HA HIW HPP IEX JNPR LBRT LFUS MANH MASI MTDR MSFT NAVI NCR NOV PFG QS RRC ROIC HOOD TENB TER TXN TRMK TWTR UDR UMBF VBTX V WSBC
  • Wednesday (Oct. 27)
    • Pre-Market:  AMG ALKS APH AIT ARES ADP AVY BXMT BA BSX BCO BMY BG CAMT CHEF CME KO CSTM CTS DRVN DTE DT EVR FISV GRMN GD GM ROCK HOG HES HLT IP KHC MAS MCD MNRO NYCB NSC ODFL OC PAG PB ROL RES R SLGN SLAB SIX SPOT SF TMHC TEL TECK TDY TEVA TMO TNL UMC VRT WAB
    • After-Hours: AFL AEM AGI ALGN ALGT ALSN NLY AM AR ACGL ASGN AZPN AVB AXS NTB BHE BMRN BOOT BCOV CACI CG CCS CHX CHDN CINF CNO CDE CTSH FIX CYH CNMD CLB CONE DRE EBAY EW ESI EHC EQT EQC ETD RE EVTC EXR FLEX FLS F FORM FWRD GSHD THG PI NGVT ISBC INVH IRBT JBT KRC KLAC KN LC MXL MTH MEOH MAA MKSI MC MOH MUSA MYRG NTGR NDLS ORLY OII PGRE PEGA PDM PPC PLXS PPD RJF SIGI SCI NOW SIMO SNBR SSB SRI TDOC TROX TTMI TWLO TYL UCTT URI UPWK VICI WCN WOLF WH XLNX YUMC
  • Thursday (Oct. 28)
    • Pre-Market:  FLWS AOS ABMD AGCO ATI ALGM ADS AB ALNY MO AEP AMT BUD AVNT BAX BPMC BC CRS CARR CAT CBZ CBRE CHKP CLVT CMS CNX COLB CMCO CMCSA COR CFR DBD EXP EME FCN THRM GPI HSY HBAN IDA ITW IMAX INSM ITGR ICE JHG KBR KDP KEX LH TREE LECO LIN LKQ MA MDC MPW MD MRK MDP TAP MCO COOP NEM NLSN NOC NVCR NVT OSK OSIS OSTK PATK PTEN PBF BTU PRFT PRLB PACK RLGY RS RGEN RDS.A SAIA SNY SNDR SHOP SIRI SWI SAH SMP SWK STM TROW TFX TPX TXT TW TRS VLY VC WST WEX WLTW WNS XEL YUM
    • After-Hours: ACHC AMZN ABCB AAPL AJG TEAM AVTR AVT AX BIO CPT CDNA CWST CHE COHU COLM OFC CUZ DVA DECK DXCM DRQ EMN EIG ENVA EXPO FHI FE FTV FTAI FTDR GLPI GILD LOPE HIG HTGC HTH HUBG KMPR KNSL LMAT LPLA LTC MGRC MERC MMSI MSTR MHK MPWR NATI NXGN PEB POLY POWI PTCT RNST RSG RMD SGEN SPNE SKX SKYW SM SPSC SSNC STAG SBUX SYK TEX TXRH X VRSN VCRA WRE WERN WDC AUY ZEN
  • Friday (Oct. 29)
    • Pre-Market: ABBV AON ATR B BAH CCJ CBOE CERN CHTR CVX CHD CL XOM FTS GWW HUN IMGN IMO LAZ LYB NWL PSX PSXP PNM POR PFS SJR SHLX SLCA WPC WY WETF
    • After-Hours: None of note
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