Stock Market Week Ahead: October Marks A 7-Year Best For The Nasdaq

Market Overview - The stock market showed resilience despite a weak Q3 reporting period, with the Nasdaq and S&P 500 reaching new weekly closing highs, marking the S&P 500's sixth consecutive monthly advance and the Nasdaq's first seven-month rally since 2018 [1] Upcoming Earnings Reports - Notable companies reporting earnings include Palantir (PLTR), Advanced Micro Devices (AMD), and Shopify (SHOP) [2] - Tesla (TSLA) will hold a significant annual shareholder meeting focusing on CEO Elon Musk's compensation plan and investment in xAI [5] Company-Specific Insights - Palantir Technologies: Expected to report a 68% increase in adjusted profit, with revenue growth projected at 50%. U.S. government revenue is anticipated to grow over 46% to $469 million, while U.S. commercial revenue is expected to rise over 90% to $347 million [11] - Advanced Micro Devices (AMD): Analysts forecast a 27% increase in earnings and a 28% sales gain for Q3, with shares up 113% this year [6] - Shopify: Anticipated adjusted profit of 34 cents per share, a 4% decline year-over-year, with revenue expected to grow 27% to $2.756 billion [6] - Super Micro Computer (SMCI): Expected to report a 50% decline in earnings year-over-year, with sales down 2% [8] - Pfizer (PFE): Analysts expect a 41% decline in earnings and a 7% drop in sales for Q3 [9] - Novo Nordisk (NVO): Projected sales growth of 17% to $11.98 billion, with adjusted earnings expected to fall 12.5% [10] Sector Highlights - Pharmaceuticals: A significant week for the sector with major earnings reports, including Pfizer and Novo Nordisk, amid competition in the obesity drug market [9][10] - Semiconductors: AMD's strong performance is indicative of a broader trend in the semiconductor industry, benefiting from a PC refresh cycle [6] - E-commerce: Shopify's earnings report will provide insights into the impact of rising investments and marketing expenses on profitability [6] Stock Performance - Palantir: Shares have increased by 168% this year, indicating strong market interest and performance [11] - Tesla: The company is under scrutiny regarding its CEO's compensation and future strategic direction, particularly in AI [5]