Big Week for Autos and Tech as Earnings Flood In

More than 1,500 companies report this week. The auto sector dominates the headline risk in Europe. Tech and luxury goods round out a busy schedule.

Today, UCB and Swiss vacuum valve maker VAT Group both post earnings. Italian luxury group Moncler also reports. No IPOs are scheduled in the next seven days.

Tuesday brings Kia Corporation results. Austrian car registration data, a leading indicator that runs about 45 days ahead of revenue, is running 9% above the same quarter last year. That is three months in a row of positive readings.

Wednesday is the biggest day. Mercedes-Benz reports with mixed signals. Dutch car registrations, a strong-fit leading indicator for Mercedes revenue, are running 6% below last year. Finnish registrations point the other way, up 36% on the same quarter. Investors will watch closely.

Thursday sees Volkswagen and Renault both report. Austrian registrations, which lead Volkswagen revenue by 18 days, are running 6% below year-ago levels. For Renault, Dutch registrations are down 19% on the same quarter.

On the index front, Vaxcyte sits just 0.5% below the Russell 2000 exit line with the rank date five days away. A single volatile session could determine which index tier it lands in, with $430 million of forced buying at stake if it moves up.