This week: Tesla wins, US home sales, AmEx wins

A look at some of the major trade events and economic indicators coming up this week:

CHARGE

Wall Street expects another solid quarterly snapshot from Tesla.

Analysts predict that the electric vehicle maker will announce on Wednesday that its profits and revenues increased in the third quarter compared to the same period last year. This would echo the company’s results in the first half of this year. So far this year, Tesla has sold around 627,300 vehicles. This allows him to solidly beat last year’s total of 499,550.

HOUSING MARKET BAROMETER

The National Association of Realtors released its U.S. home sales tally on Thursday.

Economists predict that sales of previously occupied US homes accelerated to a seasonally adjusted annual rate of 6.1 million properties last month. This would be the highest annual sales rate since February. The pace of home sales has slowed this summer as soaring prices and the limited number of homes available on the market discouraged many potential buyers.

Sales of existing homes, in millions, seasonally adjusted annual rate:

5 April 85

May 5.78

June 5.87

July 6

5 Aug 88

Sep (est.) 6.10

Source: FactSet

GIVE THEIR CREDIT

American Express presents its latest quarterly newsletter on Friday.

The credit card issuer has benefited from increased spending by cardholders this year as restaurants, shops and entertainment venues have returned in force following the rollout of coronavirus vaccines. American Express has posted profit growth in the first two quarters of this year. Analysts expect more of the same from the company’s third quarter results.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *