This week, investor attention turns to a range of major earnings reports from companies across industries, as third-quarter earnings season continues.
Tesla, Boeing, UPS, and General Motors are among the notable names set to release their quarterly results, providing key insights into their performance and potential market trends.
The stock market has experienced positive momentum, with all major indexes closing higher for the sixth consecutive week. The Dow Jones Industrial Average gained about 1% over the past week, while the S&P 500 and Nasdaq Composite rose by 0.9% and 0.8%, respectively. Some sectors, such as Utilities and Real Estate, also saw strong gains as investors shifted from mega-cap tech stocks to other areas of the market.
Tesla, scheduled to release earnings on Wednesday, is particularly in focus after its recent “We, Robot” event. The electric vehicle maker is expected to report earnings per share of $0.60 on $25.42 billion in revenue. However, there are concerns over the company’s future investments, particularly following a mixed reception of its newly unveiled autonomous vehicle, the Cybercab.
Boeing will also report this week amid labor negotiations, as the aerospace giant hopes to recover from financial losses and ongoing challenges. UPS and General Motors are set to release their earnings, alongside key economic data, including housing market updates, jobless claims, and the Federal Reserve’s Beige Book.
Yahoo Finance and the Street contributed to this report.
