Coffee With Greta: Big Week Kicks Off


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DJIA Futures: +171 (+0.5%)

SPX Futures: +22 (+0.5%)

NASDAQ Futures: +92 (+0.6%)

Good morning friends!

Futures are rising as traders kick off a big week.

Let’s get right to it!

Important Week

This will be a big week of data for the market, focused on the Fed and the labor market. 

Wednesday morning traders will get ADP’s private employment report for October at 8:15 a.m. ET and then the Labor Department’s JOLTS at 10:00 a.m. 

The Fed decision will then be released at 2:00 p.m. ET, followed by the Fed Chair’s press conference at 2:30. 

Friday is the official October jobs report from the Labor Department. 

There’s been increased focus on the labor market as inflation slowly comes down amid the Fed’s rate hikes. 

The Central Bank has said it needs to see weakening in the jobs market that it has not yet seen. 

Earnings Look Ahead

On top of the important data this week, traders are still set to get some key earnings reports. 

Here’s the highlights: 

  • Tuesday AM: Pfizer (PFE), Caterpillar (CAT)
  • Tuesday PM: Advanced Micro Devices (AMD)
  • Wednesday AM: CVS Health (CVS)
  • Wednesday PM: Qualcomm (QCOM), Airbnb (ABNB), PayPal (PYPL), DoorDash (DASH), Roku (ROKU)
  • Thursday AM: Starbucks (SBUX), Shopify (SHOP), Moderna (MRNA)
  • Thursday PM: Apple (AAPL), Block (SQ), Coinbase (COIN)

McDonald’s Jumps On Earnings Beat

McDonald’s (MCD) shares are up 2.6% ahead of the open after beating Q3 expectations on the top and bottom line. 

Here’s how the fast food giant’s results compared to analysts’ estimates: 

  • Adjusted EPS: $3.19 vs $3 expected
  • Revenue: $6.69 billion vs $6.58 billion expected

Revenue jumped 14% year over year.

Global same-store sales rose 8.8% vs 7.8% expected. 

Same-store sales in the U.S. jumped 8.1%, fueled by price hikes. 

SoFi Rallies On Huge Revenue Beat

SoFi Technologies (SOFI) shares are soaring 10.6% in premarket trade after sharply beating Q3 expectations. 

Here’s how the personal finance company’s results compared to analysts’ estimates: 

  • Adjusted loss per share: $0.03 vs $0.08 expected
  • Revenue: $530.72 million vs $511 million expected

The beat was largely due to a rush of student loan originations as borrowers prepared for payments to resume. 

SoFi originated $919.3 million worth of student loans in Q3, soaring past expectations for $651.5 million. 

Personal and home loan originations also beat at $3.89 billion vs $355.7 million expected.

The company also lifted its full-year guidance.

SoFi now expected adjusted net revenue of $2.045 billion to $2.065 billion this year vs $1.974 billion to $2.034 billion previously. 

The company forecast full-year adjusted Ebitda of $386 million to $396 million vs $333 million to $343 million previously.

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