Earnings Avalanche: Autos, Oils and Presto Ferrari

Today, Friday 30 October, is one of the busiest days of the season. More than 1,900 companies report globally. In the S&P 500 alone, the morning is packed.

AbbVie, the $514bn pharma giant, posts at 1pm ET. ExxonMobil and Chevron, the two largest US oil majors, both report today. Together they account for over $1.2 trillion in market cap. Regeneron and Colgate-Palmolive also drop numbers this morning.

In Europe, Safran ($129bn, aerospace) and Air Liquide ($126bn, industrials) report today. Galderma, the Swiss skincare group, also posts.

The auto sector dominates mid-week. Ferrari reports Monday 3 November. ORTEX Austrian car registration data, which leads Ferrari revenue by 22 days, is running 75% below the same quarter last year. That is a weak leading signal. Honda Motor follows Thursday 6 November. Japanese car registration data leads Honda revenue by 65 days with a strong fit, and is running 10% below year-ago levels.

Polestar reports Wednesday 5 November. Dutch car data, a strong leading indicator for its revenue, is down 37% year-on-year. German registrations point the other way, up 32%.

No IPOs are scheduled in the next seven days. The calendar is clean on that front.

On the index radar, today is the Russell 2000 December Semi-Annual Review ranking cut-off. LXP Industrial Trust and CBIZ are deleted from the Russell 2000 and Russell 3000 effective 2 November. Trackers must sell both before that open.