Amazon and Apple earnings, PCE, mortgage rates: What to Watch

Amazon (AMZN) and Apple (AAPL) are next up to bat for the Magnificent Seven tech names, reporting their earnings on Thursday, October 31. Other notable companies releasing quarterly results include Mastercard (MA), Uber (UBER), Shell (SHEL), and Intel (INTC).

The Personal Consumptions Expenditure (PCE) index — the Federal Reserve's preferred inflation gauge — is due out tomorrow morning.

The weekly print on mortgage rates will also be published on Thursday. Rates have risen for the past four consecutive weeks.

To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.

This post was written by Luke Carberry Mogan.

Video Transcript

Time now for what to watch Thursday, October 31st.

It is Halloween of course.

And on the spookiest day of the year, a couple of more earnings reports from the magnificent seven including Apple, Apple uh announcing results for the fourth quarter after the close, the company jockeying with NVIDIA uh over I'm sorry, NVIDIA over the last week for the top market cap in the USA.

I was expecting China iphone sales to be a focal point of the earnings call as reception in the US for the iphone 16 has been sluggish and some other earnings will also be watching tomorrow include mastercard, Uber, Comcast.

And by the way, I think the spooky day of the year is next Tuesday, taking a look at the economy monthly PC data for September as personal consumption expenditures coming out in the morning.

That's a measure of inflation.

Of course, economists forecast both co and total PC will speed up compared to August with core P CE at 3/10 of a percent total P CE at 2/10 of a percent.

And finally, we're going to be getting weekly mortgage rates in the afternoon rates have risen for consecutive weeks, 30 year fixed currently at 6.54% as home buyers continue to navigate a sluggish housing market.