Big Tech Dominates a Packed Earnings Week

Microsoft and Amazon headline a dense schedule of results this week. Microsoft posts its earnings call Wednesday after the close. Amazon follows Thursday afternoon. Together the two companies carry a combined market cap above $6.5 trillion.

Tuesday brings Coca-Cola and S&P Global. Coke reports at 8:30am ET. S&P Global follows at 7:15am.

Wednesday also sees Chipotle release results after the bell. Intel holds its earnings call Thursday evening.

In Europe, Mercedes-Benz reports Wednesday. ORTEX alt data tracking Dutch car registrations leads Mercedes revenue by 26 days with a strong fit. That dataset is running 6% below the same quarter last year, with all three months in. Volkswagen and Renault both report Thursday. Austrian car registrations, which lead Volkswagen revenue by 18 days, are also running minus 6% year-on-year.

On the index radar, Vaxcyte sits on a knife-edge ahead of the Russell rank date on 30 October. ORTEX forecasts a 52% chance of deletion from the Russell 2000, which would force $1.2 billion of selling across 9.3 days of volume.

No IPOs are scheduled in the next seven days via confirmed filings.