NEW HIGHS! NOW WHAT?
After the Fed cut rates again last week, they indicated that further policy easing may not be necessary. Many Fed Reserve officials, including NY Fed President John Williams, Philadelphia Fed Chief Patrick Harker, Chicago Fed Chief Charles Evans and Dallas’s Robert Kaplan will be speaking this week and discuss their insight on monetary policy. The European Central Bank’s new President Christine Lagarde will speak tomorrow and the ECB will announce its Monetary Policy report on Thursday. It will be interesting to hear her take on the December 12th election and a new January 31st Brexit deadline.
President Trump said on Friday that negotiations about a “phase one” agreement with China were going well and that he could potentially sign a long-awaited agreement in Iowa. The agreement was expected to be signed in Santiago, Chile on November 17th but Chile withdrew as host of the meeting.
Despite earnings beats from AAPL and FB, S&P 500 earnings for the 3rd quarter could bring the first quarterly year-over-year earnings decline since 2016. Earnings are now expected to have declined .8% which is better than earlier forecasts of a 2.2% decline. This week continues to be a busy earnings week:
Monday:
$UAA – Under Armour, Inc.
$S – Sprint Corp.
$GRPN – Groupon, Inc
$SHAK – Shake Shack, Inc.
$THC – Tenet Healthcare
$MOS – Mosaic Co.
$MAR – Marriott International
Tuesday:
$TPR – Tapestry, Inc.
$NEM – Newmont Mining
$MYL – Mylan N.V.
$CZR – Caesars Entertainment
Wednesday:
$CVS – CVS Healthcorp
$DISH – Dish Network
$HUM – Humana, Inc.
$ROKU – Roku, Inc.
$EXPE – Expedia, Inc.
$SQ – Square, Inc.
$BIDU – Baidu, Inc.
$QCOM – Qualcomm, Inc.
$WYNN – Wynn Resorts
Thursday:
$RL – Ralph Lauren Co.
$ZTS – Zoetis, Inc.
$YELP – Yelp, Inc.
$Z – Zillow Group
$TTD – The Trade Desk
$TTWO – Take-Two, International
$BKNG – Booking Holdings
$DBX – Dropbox, Inc.
$ATVI – Activision Blizzard
$MNST – Monster Beverage
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Enjoy your week. Hope you all made good use of the extra hour over the weekend!
Scott, Charlie, Mike and the rest of your Prosper Team
