Monday’s Headlines: Wall Street Braces For Important Earnings Season

Monday’s Headlines: Wall Street Braces For Important Earnings Season

Here were the biggest movers in the MyWallSt shortlist on Friday:

Moving Up ⬆️

Datadog (DDOG) +8.9%

Peloton Interactive (PTON) +7.0%

Cloudflare (NET) +6.8%

Atlassian (TEAM) +5.3%

Etsy (ETSY) +5.1%

Moving Down ⬇️

TrueCar (TRUE) -3.1%

Wynn Resorts (WYNN) -2.2%

Nordstrom (JWN) -2.2%

Ctrip (TCOM) -1.7%

Ulta Beauty (ULTA) -1.6%

1. Wall Street is holding its breath this week ahead of further stimulus talks and the launch of Q3 earnings season, with stock futures little unchanged as a result. Last week was the stock market's strongest week since July, with the Dow Jones (DIA) jumping 3.3%, the S&P 500 (VOO) rising 2.8%, while the tech-heavy Nasdaq led the pack with gains of 4.6% thanks largely to the rise of FAANG stocks. There is no telling what this week will bring though as we enter the final stages of the U.S. presidential election run and talks over a potentially $2.2 trillion stimulus package continue to stall. Read the full story here

2. Stimulus and earnings are perhaps not the only things weighing on investors’ minds when it comes to spending, as Amazon (AMZN) prepares to launch its long-delayed Prime Day sale. In the six years since Amazon held its first Prime Day, the marquee shopping event has always been held in mid-July to boost sluggish Summer sales, but logistic issues relating to COVID-19 have seen the event pushed. Amazon doesn’t share Prime Day sales volume, but JPMorgan (JPM) forecast this year’s event could bring in revenue of $7.5 billion, up 42% from its 2019 estimates, while others have estimated as high as $10 billion. Best start memorizing those credit card details! Get the complete report here

3. I may have some important decisions to make regarding how much food I want to eat this month, as Apple (AAPL) is also expected to unveil its brand new iPhone tomorrow. This year holds some significance as it could be the first major case redesign since 2017 and the expectation that Apple’s new iPhones will support 5G cellular networks have investors hoping for a big upgrade cycle. Aside from all of this, we are expected to see up to 4 new model types with different price tiers, while the delayed launch could help boost sales in a more prolific spending season of the year coming up to the holidays. Read the full story here