A number of last-moment but important corporate earnings will hit the market this week, but some of the large-cap corporations reporting their last-quarter earnings might dampen the mood before the holidays.
Some household brand names in America, FedEx Corporation (FDX ), General Mills, Inc. (GIS ), and Nike, Inc. (NKE ), will report their quarterly earnings throughout the week, but most of them are expected to report considerably lower earnings per share compared to the same quarter last year. However, some of these businesses have fluctuating revenue curves due to seasonality, and we wouldn’t worry too much, as the year is likely to end with some solid macroeconomic data from the housing sector.
To sum up, if the housing sector data comes out as expected, expect some bullishness in the market after Wednesday to finish off the week on a positive note ahead of the Christmas holidays.
Check out last week’s Market Glance here, in which investors focused on the Q3 earnings of Costco.
