Earnings Flood the Tape This Week

Today brings a heavy slate of confirmed earnings. Anheuser-Busch InBev ($160B market cap) reports alongside ING Groep ($93B) and adidas. Columbia Sportswear also posts today.

Auto names dominate the European calendar. Volkswagen and Renault both report today. Austrian car registration data leads Volkswagen's revenue by 18 days and is running 6% below last year's same quarter. For Renault, Dutch car registrations point 19% lower year-on-year. Neither is an auspicious backdrop.

Kia Corporation reports Thursday. Austrian registrations, which lead Kia's revenue by 45 days, are running 9% above last year, a more constructive read heading into the print.

Ferrari follows next week on 3 November. Austrian car data shows a 75% drop on the same quarter last year, though the dataset carries only a weak fit for Ferrari's revenue.

No IPOs are scheduled in the next seven days.

On the index front, tomorrow marks the Russell 2000 December review ranking cut-off. ORTEX Index Rebalance Radar puts UWMC just 0.4% short of crossing from the Russell 1000 into the Russell 2000. Viasat and Twist Bioscience face rising deletion odds, both now at 80% probability, with forced selling historically running at 8.8 times normal volume on trade day, 11 December.