Week Ahead on Wall Street: More Tech, and Consumer Earnings

By: Anneken Tappe · November 06, 2023 · Reading Time: 3 minutes

Productivity Powers Through

It’s a brave new normal of higher wages and interest rates. But things seem to be falling into place in this new dynamic.

Labor productivity has surged to the highest level in decades. The sharp rise suggests a healthy economy in which the benefits of growth can be shared more equitably between workers and businesses, even amid inflation or a softening labor market. That said, some economists are skeptical whether the productivity boost will stick.

Job growth slowed some in October, with 150,000 positions added to the economy — fewer than expected, and fewer than in the prior month. Unemployment inched up to 3.9%, but nevertheless remains historically low.

The softer-than-expected readings may actually be a good thing: The job market is still growing, but perhaps at a more sustainable rate.

Earnings Reports

It’s another busy earnings week, with major tech and consumer brands reporting results.

Starting the week, DISH Network (DISH) and TripAdvisor (TRIP) will report results.

On Tuesday, Uber (UBER), eBay (EBAY), Squarespace (SQSP), GoPro (GPRO), Robinhood (HOOD), and CAVA (CAVA) will report. After going public in June, Cava reported a 62% year-over-year increase in revenue in its August earnings report.

Wednesday will be the busiest earnings day of the week, including Disney (DIS), The New York Times (NYT), Roblox (RBLX), Under Armour (UAA), Warner Bros. Discovery (WBD), 23andMe (ME), Lyft (LYFT), and Instacart (CART).

On Thursday,Oatly (OTLY) and Krispy Kreme (DNUT) both hand in reports. Some analysts worry about the sales outlook of food companies due to the popularity of weight-loss drugs like Ozempic (NVO).

Economic Reports

It’s a big week for speeches from Federal Reserve officials, including a speech from Chairman Jerome Powell on Wednesday.

An update on the trade deficit is due Tuesday, followed by a look at consumer credit. On Wednesday, an update on the 30-year fixed-rate mortgage is due. Last week, the average rate declined for the first time in two months to 7.86%.

As usual, we’ll get weekly jobless claims data on Thursday. Rounding out the week, we’ll get an insight into how Americans feel with the University of Michigan consumer sentiment index.

Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!

Check it out

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

TLS 1.2 Encrypted
Equal Housing Lender