The Week Ahead on Wall Street

Economic News

Today, there is no economic data scheduled to be released.

Tomorrow, the NFIB releases its small business index for October. This data point tracks how small business owners feel about the economy and their prospects. Confidence among small business owners slipped slightly in September amid labor shortages and supply-chain disruptions, which hurt operations. Investors will be paying attention to see if confidence worsened in October.

On Wednesday, initial existing unemployment claims for the week prior are released. This data point typically comes out on Thursday, but data is being released a day early due to the Veterans Day holiday. Last week initial unemployment claims declined to a new pandemic low of 269,000.

On Thursday, there is no economic data scheduled to be reported.

On Friday, be on the lookout for the University of Michigan’s Consumer Sentiment Index for November. In October consumer sentiment slipped as supply-chain disruptions and rising prices weighed on consumers’ moods. With inflation continuing to increase, all eyes will be on this reading to see how consumers are feeling about the economy as we head into the holiday season.

Earnings Reports

Today, AMC Entertainment (AMC) reports quarterly earnings. Investors have felt more optimistic about the movie theater chain’s prospects in recent weeks. With movies drawing a lot of viewers into theaters, more studios are rethinking plans to release films in theaters and online at the same time. Investors will be paying close attention to see what impact this trend will have on AMC’s bottom line.

Tomorrow, be on the lookout for Coinbase (COIN) to weigh in with quarterly earnings. The cryptocurrency exchange operator just began testing a new subscription service called Coinbase One. Customers won’t have to pay commissions on trades but will still pay the fees to buy and sell crypto. Coinbase will likely provide more details about the new program when it reports quarterly earnings.

Also, Tuesday DoorDash (DASH) reports quarterly earnings. The delivery startup recently teamed up with ADT to protect drivers. The new safety features will be available for US DoorDash drivers by the end of the year.

On Wednesday, Affirm (AFRM) reports quarterly earnings. The company has been a big beneficiary of the movement toward buy-now, pay-later. However, that business model is starting to fray with Affirm and other industry players reporting an increase in delinquent accounts. That is raising red flags among investors, given that the economy is regaining strength and consumer confidence is holding up. Investors will undoubtedly want to learn more about these trends when Affirm weighs in with its earnings.

On Thursday, be on the lookout for Brookfield Asset Management (BAM) to report quarterly earnings. The asset management company is part of a group which just paid $7.7 billion for AusNet Services, the Australian electricity and gas company. The move comes as energy prices are soaring amid strong demand and inventory shortages. More details on that transaction will likely be revealed when Brookfield reports earnings.

The Week Ahead at SoFi

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