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Regional banks open their earnings week tonight, while chip stocks try to stop a seven-session slide on the last day of the week.
Wall Street heads into Friday on a cautious note. The S&P 500 is on track for a losing week after two hotter-than-expected US inflation reports.
Two stories share the stage tonight. Truist, M&T, Regions and Citizens report third-quarter results before the open. Meanwhile, the Philadelphia Semiconductor Index has fallen for seven straight sessions, according to Investing.com.
Market reaction to the next-generation Roadster reveal
Source: closing moves for 15 October from Nasdaq.com. What to Watch: Truist (TFC), Newsquawk (MTB, TRV), Investing.com (NVDA), CNBC (TSLA).
Tonight's Key Events
Regional banks report Q3
Truist (TFC) reports before the market opens and hosts its earnings call at 8 a.m. ET. M&T Bank (MTB), Regions (RF) and Citizens (CFG) are also scheduled before the open, per Earnings Whispers. Newsquawk names loan growth, deposit repricing and commercial real estate exposure as the key lines, with forward guidance tending to drive the bigger moves.
Travelers and insurance pricing
Travelers (TRV) also reports before the open. Consensus sits near $7.25 in EPS on about $11.31 billion in revenue, according to Newsquawk. The combined ratio and catastrophe losses are the numbers to watch.
Nvidia (NVDA) fell 1.84% on Thursday. Investors are questioning debt-financed AI infrastructure spending, with CoreWeave and Oracle under scrutiny, according to Investing.com.
US wholesale prices rose 1.3% in September and 6.3% from a year earlier, according to TipRanks. CME FedWatch priced a 67% chance of a Fed rate increase by December, and the 10-year Treasury yield sat near 5.09%, according to Investing.com.
Conclusion
Tonight's bank reports will show how well lending and deposits are holding up with rates this high. Chip stocks will decide whether the Nasdaq closes the week on calmer footing.
Bank guidance for the coming quarters has usually moved shares more than the quarter itself. Treasury yields are worth watching through the session too.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
Gotrade is the trading name of Gotrade Securities Inc., which is registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms registered with Kominfo (Indonesia's Ministry of Communication and Informatics). His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
