By Bill Hornbarger, Chief Investment Officer
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Three Things to Watch
- The focus this week will turn almost exclusively to third-quarter earnings, with some of the world’s highest-profile companies on the docket to report. Electric vehicle leader Tesla is due up, along with Coca-Cola, Philip Morris, bellwether UPS and Boeing. More than 100 members of the S&P 500 will report this week as earnings season kicks into high gear.
- The International Monetary Fund (IMF) will kick off its annual meeting on Monday in Washington D.C. and will focus on the fact that public debt levels are forecast to reach and exceed $100 trillion this year, led by the United States and China. The IMF in recent communications has stressed that governments must work to reduce debt and build buffers for the next economic shock.
- On the data front, housing market reports (new and existing home sales) are expected to show that the housing market continues to stabilize. Meanwhile, the index of leading economic indicators is expected to decline for the 31st time in the past 32 months, and the U.S. Federal Reserve’s Beige Book report on regional economic conditions will be released on Wednesday.
Three Things to Know
- According to Consumer Reports, the three most reliable car brands are Lexus, Toyota and Mini, while the three least reliable are Chrysler, Mercedes-Benz and Rivian. (Source: Consumer Reports)
- On October 19, 16 new members were inducted into the Rock & Roll Hall of Fame, including Ozzy Osbourne for the second time (solo and as a member of Black Sabbath). Eric Clapton is the only artist to get into the Hall of Fame three different ways: as a solo artist, as a member of the Yardbirds and as a member of Cream. (Source: Cleveland.com)
- The ratio of U.S. stocks to international stocks hit another record high this week, extending its streak of outperformance to over 16 years. This is by far the longest period of U.S. dominance that we’ve ever seen. (Source: Charlie Bilello)
The above information reflects the current opinion of the author. It is based upon sources and data believed to be accurate and reliable. Opinions and forward-looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security mentioned.