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This Week: Facebook and Starbucks earns, nonfarm payrolls

This Week: Facebook and Starbucks earns, nonfarm payrolls

AP Reported by: AP
Published on: October 29, 2018 10:45 IST
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Image Source : AP This Week: Facebook and Starbucks earns, nonfarm payrolls

A look at some of the key business events and economic indicators upcoming this week:

MIXED RESULTS?

Wall Street expects that Facebook's latest quarterly report card will show mixed results.

The social media giant has been grappling with the fallout from a major privacy scandal. Its user base and revenue grew more slowly than expected in the second quarter. Financial analysts expect Facebook to report Tuesday that its third-quarter earnings declined from a year earlier, even as revenue increased.

STRONG BREW

Starbucks serves up its fiscal fourth-quarter results Thursday.

Financial analysts predict the coffee chain will report that its earnings and revenue improved versus a year earlier. That would echo the company's performance in its previous three quarters. Beyond earnings, investors will be listening for an update on Starbucks' plans to restructure its European operations after several years of slowing sales.

HIRING PICKUP?

Economists predict hiring in the U.S. increased in October after declining the previous month.

They expect the Labor Department will report Friday that nonfarm employers added 190,000 jobs in October. The economy added 134,000 jobs in September. Economists blamed the slower pace of hiring in September on Hurricane Florence, which struck North and South Carolina, closing thousands of businesses.

Nonfarm payrolls, monthly change, seasonally adjusted:

May 268,000

June 208,000

July 165,000

Aug. 270,000

Sept. 134,000

Oct. (est.) 190,000

Source: FactSet

Disclaimer: This is unedited, unformatted feed from the Associated Press (AP) wire.
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