The big boys are lining up backstage for the earnings show. Here’s what’s on our radar next week.
Big Tech week
With heavyweights Alphabet, Microsoft, Meta, Apple and Amazon all set to report their third-quarter earnings, this week might just be the biggest moment for markets. The “Magnificent Seven” are expected to report 18% profit growth for the quarter. Tesla has already released its results. With tech stocks riding high, these results could make or break the rally – tech is still the biggest contributor towards earnings growth in the S&P 500. Here’s hoping these giants have the numbers to keep the momentum going. (October 29-31)
US jobs, inflation and GDP
All eyes will be on the US October jobs report dropping on Friday, after September’s shockingly strong numbers (expectations are for 140,000 new jobs added!). Leading up to that, we’ll also see private-sector jobs data, September’s PCE numbers (the Federal Reserve’s go-to inflation gauge) and third-quarter GDP figures. (October 26-November 1)
Lulu IPO subscription
Lulu Group’s IPO subscription runs from October 28 to November 5, with the listing set for November 14 in Abu Dhabi. Lulu is already a household name across the GCC, with more than 200 stores in the region. Offering 25% of its shares, the IPO could reach a $5 billion valuation. This will likely place Lulu among the region’s biggest IPOs this year. (October 28-November 5)
India, with a side of coleslaw
Big names – Adani Enterprises, Maruti Suzuki, Hero MotoCorp and LIC Housing Finance – are set to report earnings in the world’s fastest-growing economy. These earnings will be in focus especially with recent money outflows towards China. We’re also watching China’s BYD and the Middle East’s Americana Restaurants, which operates KFC and Pizza Hut in this region. (October 29-31)
Apple Intelligence. Finally
IOS 18.1 is expected to roll out on Monday, bringing with it the much-anticipated Apple Intelligence features. But here’s the catch: only iPhone 15 Pro and newer models will support this update, and even then, not all features, apps or services will be available in every region. Apple Intelligence will also extend to 2020-or-later iPad Pros, iPad Airs, MacBook Pros and MacBook Airs. MONIIFY-ers will be updating their iPhones and trying all the new features, so stay tuned. (October 28)
