Goldman Earnings, Retail Sales, Confidence: 3 Things to Watch

  • Investing.com
  • Stock Market News
Goldman Earnings, Retail Sales, Confidence: 3 Things to Watch
Credit: © Reuters.

By Dhirendra Tripathi

Investing.com -- Stocks surged on Thursday, lifted by the technology sector and better than expected results from big companies like Bank of America (NYSE: BAC ) and Walgreens Boots Alliance. 

Three big banks, Citigroup Inc (NYSE: C )BofA, and Morgan Stanley (NYSE: MS ) beat expectations after returning money from reserves set aside last year in case of large loan losses. A busy season for investment banking also boosted their results. 

Walgreens Boots Alliance Inc (NASDAQ: WBA ) also jumped after beating expectations and announcing it would buy a bigger stake of VillageMD as it seeks to expand its primary care business.  

While quarterly earnings are expected to be strong compared to last year, analysts are listening for CEO comments on rising costs, labor shortages, and supply chain challenges. In a positive development, new jobless claims fell last week to their lowest level in 19 months. 

Producer prices also eased in September.

Friday’s big number will be retail sales. Here are three things that could affect markets tomorrow:

1. Goldman earnings

Goldman Sachs Group Inc (NYSE: GS ) is expected to report third-quarter profit per share of $10.11 on revenue of $11.72 billion, according to analysts tracked by Investing.com.

2. Retail sales

U.S. retail sales in September are seen declining by 0.2% on a month-over-month basis compared to the 0.7% growth in August. The data are released at 8:30 AM ET (1230 GMT).

3. Consumer sentiment

The preliminary reading of the U.S. consumer sentiment for October, as reflected in the University of Michigan's Consumer Sentiment Index, is seen improving to 73.1 from September’s final reading of 72.8. This report is released at 10:00 AM ET.

 

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