Tech Giants Dominate a Packed Earnings Week

The biggest week of the US earnings season arrives with MSFT, GOOGL, and AMZN all reporting between Tuesday and Thursday. Markets will be watching closely for signals on cloud spending, AI monetisation, and consumer demand.

Monday and Tuesday bring the warm-up act. CDNS posts Q3 results on Monday. On Tuesday, KO reports Q3 at 8:30am, alongside SPGI and CNC. HLT holds its earnings call the same morning.

Wednesday is the biggest single day. GOOGL and MSFT both release after the close. CMG, BIIB, ALGN, and EBAY also report Wednesday. In Europe, Mercedes-Benz Group posts results that day too. Dutch car registration data, a leading indicator for Mercedes revenue with a 26-day lead and a strong fit, is running 6% below the same quarter last year across all three months of the period.

Thursday brings AMZN and INTC after the close, alongside GILD, BMY, and ILMN. Volkswagen and Renault also report Thursday in Europe. Austrian car registration data, a leading indicator for Volkswagen revenue with an 18-day lead, is tracking 6% below the prior year. Renault faces a sharper Dutch registrations signal, down 19% year-on-year across all three months.

No IPOs are confirmed in the next seven days. Taiwan export orders hit a record $95.7bn in September, a tailwind worth watching as the cloud and semiconductor supply chains report their latest numbers.