Oil prices remain in focus as the war in Iran has widened into a proxy fight between the Saudi-backed Yemen government and the Iran-backed Houthis, with barely any oil tankers moving through the Strait of Hormuz, though WTO spot oil prices sit at $90 per barrel and Brent crude at $102 per barrel. Trading opens a breather week between last week's jobs and PCE inflation reports and next week's unofficial start of Q3 earnings season, with pre-market futures turning lower, spot oil relatively muted at sustained higher levels, and bond yields flattish but elevated. September S&P Services PMI and ISM Services are due after the opening bell, with ISM expected to dip slightly to 55 from 55.4, both indexes still well above the 50 growth line. This week also brings August Consumer Credit on Wednesday ahead of the preliminary University of Michigan Consumer Survey for October on Friday, and Tuesday's U.S. Trade Balance ahead of August Monthly Wholesale Trade numbers on Thursday. PepsiCo reports Thursday morning with earnings growth of 0.00% year over year and revenue growth of +3.94%, while Delta Air Lines reports Friday with projected earnings growth of +14.65% and revenue growth of +6.15%; both stocks currently sit at sell-levels on the Zacks Rank.
Delta Air Lines IncMentioned only as reporting Friday with projected earnings growth of +14.65% and revenue growth of +6.15%, sitting at sell-levels on the Zacks Rank; no new development.
PepsiCo IncMentioned only as reporting Thursday with 0.00% earnings growth and +3.94% revenue growth, sitting at sell-levels on the Zacks Rank; no new development.
