Big Week: Amex, Coca-Cola and Mercedes Test the Market

Today brings two major S&P 500 prints. American Express reports Q3 results this morning. SLB also posts today, with oilfield services under pressure from softer crude sentiment.

Europe is busy too. Safran ($141bn market cap) and Eni both report Thursday. Volvo Car posts today as well. ORTEX alt data shows Finnish car registration volumes running 9% below the same quarter a year ago, a leading indicator for revenue. India registrations, another revenue lead, point to a 9% year-on-year gain.

The week builds through Tuesday and Wednesday. Verizon reports Monday. PayPal follows Tuesday alongside Coca-Cola, UPS, and S&P Global.

Mercedes-Benz reports Tuesday. Dutch car registrations, a strong-fit leading indicator for its revenue, are tracking 6% below last year's quarter. Finnish registrations point the other way, up 36%. The two signals pull in opposite directions.

Later in the week, Volkswagen and Renault both report Wednesday. Austrian registrations for Renault are running 6% ahead of last year.

No IPOs are scheduled in the next seven days. The index calendar matters more: Vaxcyte sits exactly on the Russell 1000 entry line, with $430m of forced buying or $1.2bn of selling riding on where the stock closes before the October 30 rank date.