The major averages rebounded strongly this week as quarterly earnings came in largely better than expected and interest rates fell on softer economic data. The Dow Jones Industrial Average rose more than 5% for its best week since October 2022. The S & P 500 increased more than 6% with its first five-day winning streak since June, while the Nasdaq gained more than 6%. The October jobs report on Friday came in weaker than expected, which is exactly what Wall Street hoped for as it shows the Fed’s plan to beat down inflation is working. The U.S. economy last month added 150,000 jobs, below the 170,000 payrolls increase expected, and lower than September’s 297,000 jobs added. Average hourly earnings also came in softer, rising 0.2% compared to the expected 0.3% increase. In addition to the favorable jobs data (at least from Wall Street’s perspective), both the ISM Manufacturing report on Wednesday and ISM Services report on Friday came in slightly below expectations. This kind of slowdown isn’t something to cheer about, but is a positive for the stock market since it keeps the Fed and interest-rate hawks in pause mode. Earnings season has so far beat expectations. According to FactSet, of the 81% of S & P 500 companies that have reported third-quarter earnings results so far, 82% reported an upside earnings surprise, while 62% reported better-than-expected revenue results. We hope to see that trend continue in the days ahead. Looking ahead, there are only a few macroeconomic updates on deck, including Tuesday’s consumer credit data for September, Thursday’s weekly jobless claims, and Friday’s look at the Treasury’s October budget statement. The big theme next week is earnings and the four portfolio companies delivering their quarterly results. Coterra Energy (CTRA) delivers its third-quarter numbers after the closing bell Monday, with the conference call on Tuesday morning. The things to watch in the release and on the post-earnings call from this 50/50 oil and natural gas exploration and production company are free cash flow, dividends and buybacks, as well as guidance on capital expenditures and production. Output with disciplined capital expenditures is always key. We want to avoid a repeat of Coterra’s mixed Q2 . Additionally, we’re curious to hear management’s thoughts on the turmoil in the Middle East — specifically, how they’re thinking about global commodity prices from the perspective of a U.S. producer. Industrial automation company Emerson Electric (EMR) reports third-quarter earnings before the opening bell Tuesday. It was a beat and raise last time around, with management calling out resilient end-market demand and an improving supply chain dynamic. We hope to see more of the same. The introduction of 2024 guidance will also be key with Wall Street expecting accretion from recently acquired National Instruments, perhaps as much as 50 cents per share. Orders are expected to be up sequentially. Disney (DIS) is out with results from its final quarter of 2023 after the bell Wednesday. The company will be reporting for the first time under its new three-segment structure , which breaks sports out of entertainment and leaves the experiences unit pretty much the same. In addition to general comments on the progress of management’s ongoing turnaround efforts, commentary around theme park demand will be key as the business has been supporting the bottom line. Additionally, we’ll be watching for any color management can provide on their plans to integrate Hulu — now that Disney announced a deal to purchase the 33% it didn’t own from CNBC-parent Comcast (CMCSA). With a deal in the works on Hulu, it will be also interesting to see if there any updated thoughts on the path ahead for ESPN — now that sports will be reported as its own unit. Wynn Resorts (WYNN) issues its third-quarter earnings after the bell Thursday. Results and commentary on Macao will likely carry the most weight. That’s the gambling hub of Asia that’s located in a special administrative region of China. Las Vegas Sands (LVS), which despite its name only operates casinos in Singapore and Macao, already reported a better-than-expected quarter and stronger Macao numbers. That bodes well for Wynn, which also has operations the U.S. Wynn’s Vegas and Boston locations did well last quarter. Wynn Interactive in Q2 burned less money sequentially and year over year. Any update on Wynn’s construction of a property in the United Arab Emirates would also be of note. Here’s the full rundown of all the important domestic data in the week ahead as we consider a number areas of our portfolio for trades next week. In this past week , we made two buys, one sale and exited our smallest position. Monday, Nov. 6 Before the bell: Brookfield Asset Management (BAM), Axsome Therapeutics (AXSM), DISH Network Corporation (DISH), BioNTech SE (BNTX), Krystal Biotech (KRYS), Tecnoglass (TGLS), Ceragon Networks Ltd. (CRNT), Freshpet (FRPT), Kosmos Energy Ltd. (KOS), TreeHouse Foods Inc. (THS), Air Lease Corporation (AL), Affiliated Managers Group Inc. (AMG), Eversource Energy (ES), Fennec Pharmaceuticals Inc. (FENC), Graham Corporation (GHM), GOL Linhas Aereas Inteligentes SA (GOL), Hilton Grand Vacations Inc. (HGV) After the bell: Coterra Energy (CTRA) , Realty Income Corp. (O), Hims & Hers Health (HIMS), NXP Semiconductors N.V. (NXPI), Vertex Pharmaceuticals Inc. (VRTX), Clover Health (CLOV), Contura Energy (CTRA), Diamondback Energy (FANG), FibroGen (FGEN), FS KKR Capital Corp. (FSK), Celanese Corp (CE), Coherent Inc. (COHR), Eos Energy Enterprises (EOSE), Goodyear Tire & Rubber Company (GT), JELD-WEN Holding (JELD), Pall Corp. (PLL), TripAdvisor (TRIP), TransMedics Group (TMDX), International Flavors & Fragrances (IFF) Tuesday, Nov. 7 Before the bell: Emerson Electric (EMR) , Uber Technologies (UBER), Celsius Holdings (CELH), Datadog (DDOG), D.R. Horton (DHI), Melco Resorts & Entertainment Limited (MLCO), Zimmer Biomet Holdings (ZBH), ACM Research (ACMR), Lion Electric Company (LEV), Emerson Electric Co. (EMR), Vertex Energy (VTNR), Waters Corp. (WAT), Air Products & Chemicals (APD), Esperion Therapeutics (ESPR), Fidelity National Information Services Inc (FIS), Planet Fitness (PLNT), Altimmune (ALT), Bluebird Bio Inc (BLUE), Bowlero Corp. (BOWL), Choice Hotels International (CHH), International Seaways (INSW), KKR & Co. L.P. (KKR) 3 p.m. ET: Consumer credit for September After the bell: Rivian Automotive (RIVN), Devon Energy Corp. (DVN), Upstart Holdings (UPST), Occidental Petroleum Corp. (OXY), Mosaic Co. (MOS), Dutch Bros Inc. (BROS), Gilead Sciences (GILD), ContextLogic Inc. (WISH), Axon Enterprise (AXON), Toast (TOST), Akamai Technologies (AKAM), Lucid Group (LCID), Viatris Inc. (VTRS), Array Technologies Inc (ARRY), Coupang (CPNG), Corsair Gaming (CRSR), Enovix Corporation (ENVX), eBay (EBAY), DaVita Inc. (DVA), Robinhood Markets (HOOD), Pan American Silver Corp. (PAAS), BigBear.ai (BBAI), Bumble Inc. (BMBL), CAVA Group (CAVA) Wednesday, Nov. 8 Before the bell: Roblox Corporation (RBLX), Fisker Inc (FSR), Warner Bros. Discovery (WBD), Nuvei Corporation (NVEI), Village Farms International (VFF), Akebia Therapeutics (AKBA), Biogen Inc. (BIIB), Under Armour (UAA), Semantix (STIX), 3D Systems Corporation (DDD), Gray Television Inc. (GTN), Kellanova (K), Shift4 Payments (FOUR), Ralph Lauren Corporation (RL), BlackSky Technology Inc. (BKSY), Cronos Group Inc. (CRON), EVgo Inc. (EVGO), Lumentum Holdings Inc. (LITE), Nexstar Media Group (NXST), Polestar (PSNY), Patterson-UTI Energy (PTEN), Starwood Property Trust Inc (STWD) After the bell: Walt Disney (DIS) , AMC Entertainment Holdings, Inc (AMC), Twilio, Inc (TWLO), Marathon Digital Holdings, Inc (MARA), Affirm Holdings, Inc (AFRM), Duolingo, Inc (DUOL), HubSpot, Inc (HUBS), IonQ Inc (IONQ), Digital Turbine, Inc (APPS), Virgin Galactic Holdings, Inc (SPCE), Arm Holdings plc (ARM), Lyft, Inc (LYFT), Ginkgo Bioworks Holdings, Inc (DNA), Suncor Energy, Inc (SU), AppLovin Corporation (APP), B2Gold Corp. (BTG), Luminar Technologies Inc (LAZR), MGM Resorts International (MGM), Bionano Genomics, Inc (BNGO), Corteva, Inc (CTVA), Take-Two Interactive Software, Inc (TTWO), Rocket Lab USA, Inc (RKLB), Bloom Energy Corporation (BE), Beyond Meat, Inc (BYND) Thursday, Nov. 9 8:30 a.m. ET: Initial jobless claims Before the bell: Li Auto Inc. (LI), Oatly Group AB (OTLY), Novavax (NVAX), Kopin Corp. (KOPN), Fiverr International Ltd. (FVRR), Tapestry (TPR), YETI Holdings (YETI), YPF S.A. (YPF), Global Ship Lease (GSL), Himax Technologies Inc. (HIMX), Becton, Dickinson & Co. (BDX), CommScope Holding Company (COMM), RBC Bearings Incorporated (RBC), Wallbox (WBX), Agile Therapeutics (AGRX), Aemetis (AMTX), Apyx Medical Corporation (APYX), FREYR Battery (FREY), GoHealth (GOCO), Grab Holdings Limited (GRAB), Hawaiian Electric Industries (HE), Arcelor Mittal (MT), Profire Energy (PFIE), D-Wave Quantum Inc. (QBTS), Six Flags Inc (SIX), Stereotaxis Inc. (STXS), TransDigm Group Inc. (TDG), US Foods Holding Corp. (USFD), Utz Brands (UTZ), Valvoline Inc. (VVV), Weibo Corporation (WB), Wix.com Ltd. (WIX) After the bell: Wynn Resorts (WYNN) , Plug Power (PLUG), Trade Desk (TTD), Unity (U), Petroleo Brasileiro SA Petrobras (PBR), Canopy Growth Corporation (CGC), Aurora Cannabis Inc (ACB), Model N Inc (MODN), SoundHound AI (SOUN), Navitas Semiconductor Corp (NVTS), Archer Aviation Inc (ACHR), Groupon (GRPN), indie Semiconductor (INDI), urban-gro Inc (UGRO), Blink Charging Co. (BLNK), AMMO (POWW), Clean Energy Fuels Corp (CLNE), Illumina Inc. (ILMN) Friday, Nov. 10 Before the bell: Silver Spike Investment Corp. (SSIC), Algonquin Power & Utilities Corp. (AQN), AngloGold Ashanti Ltd. (AU), Central Puerto S.A. (CEPU), Hudson Global (HSON), AirSculpt Technologies (AIRS), Capital Product Partners L.P. (CPLP), Creative Realities (CREX), Soho House (SHCO) 2 p.m. ET: Treasury budget statement for October (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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The major averages rebounded strongly this week as quarterly earnings came in largely better than expected and interest rates fell on softer economic data.
The Dow Jones Industrial Average rose more than 5% for its best week since October 2022. The S&P 500 increased more than 6% with its first five-day winning streak since June, while the Nasdaq gained more than 6%.
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