What will shake up the market: Johnson & Johnson and Goldman Sachs earnings

The U.S. stock market rose on Monday, putting last week’s slump behind it, as big earnings from Bank of America (NYSE:BAC) and other financial companies helped lift the major indexes.

This week will be a busy one in terms of earnings reports as more than 60 S&P 500 companies, including Tesla (NASDAQ:TSLA), Netflix and Procter & Gamble (NYSE:PG), are set to report.

Investors worry that the central bank’s actions will ultimately prove too harsh and plunge the economy into recession. Those concerns exacerbated the U.S. market last week, with analysts now expecting another 0.75 percentage point rate hike in November. It would be the fourth such move in a row by the Federal Reserve as it tries to rein in inflation.

Overseas, turmoil in the U.K. market also added further pressure to the U.S. trading session, but it eased on Monday after Britain’s new finance minister reversed nearly all of the tax cuts previously announced by Prime Minister Liz Truss.

This week, analysts and investors will be listening to what CEOs have to say about consumer spending and their outlook for the rest of the year.

Here are 3 events that could impact the market on Tuesday:

1. Johnson & Johnson earnings

Johnson & Johnson (NYSE:JNJ) is expected to report earnings of $2.52 per share on revenue of $23.5 billion.

2. Netflix Earnings

Netflix Inc (NASDAQ:NFLX) is expected to report earnings of $2.18 per share on revenue of $7.8 billion. Analysts will be keeping a close eye on the number of subscribers as the streaming giant prepares to introduce a less expensive paid advertising tier.

3. Goldman Sachs earnings

Goldman Sachs Group Inc (NYSE:GS) is expected to post earnings of $7.80 per share on revenue of $11.4 billion amid a downturn in deal-making.


Notice: ob_end_flush(): failed to send buffer of zlib output compression (0) in /home2/xwealths/public_html/wp-includes/functions.php on line 5349