What I’m watching this week: a packed earnings calendar that could set the tone for markets, fresh signs that high borrowing costs are still weighing on housing, and an eye-catching SpaceX proposal that’s raising questions about how wealth could be built for the next generation. Here’s what’s happening …
- Earnings season kicks into high gear this week, with almost 500 companies reporting, including a handful of major market movers. This morning, numbers are due from GE Aerospace, Netflix, RTX, Capital One, 3M, Northrup Grumman, and General Motors, followed Wednesday by Meta (Facebook), Tesla, Lam Research, Philip Morris, SAP, Texas Instruments, and Abbott Laboratories. Thursday earnings are up for Proctor & Gamble, Union Pacific, Valero Energy, Lockheed Martin, Western Digital, Spotify, Blackstone, Comcast, and Barclays, followed Friday by American Express, Infosys, First Citizens Bancshares, and Booz Allen Hamilton. *
- Builder confidence slid to its lowest level since 2012 as mortgage rates above 7%, higher construction costs, and weak buyer traffic continue to strain the housing market. Builders are relying heavily on discounts and incentives to keep sales moving, and every region saw sentiment decline. The Midwest is the lone bright spot, with single‑family permits ticking up slightly. **
- Elon Musk said on X that he plans to give one SpaceX share to every U.S. child next year, without specifying eligibility, distribution mechanics or whether the pledge would use the federal Trump Accounts program. With more than 70 million Americans under 18, the pledge could exceed $10 billion based on SpaceX shares trading near $146 on Oct. 16. The announcement follows a similar pledge from SpaceX President Gwynne Shotwell and comes as companies and donors commit billions to Trump Accounts, which provide $1,000 for eligible children born from 2025 through 2028. ***
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