The Better-Than-Expected Earnings Plus Cautious Commentary Trend Continues

Apple was the latest Magnificent 7 name to report impressive results for last quarter, yet tempered guidance for next quarter and beyondPotential Surprises this week: Sleep Number, Vertex PharmaceuticalsDuring the second peak week of the Q3 earnings season, the dichotomy between robust Q3 results and cautious Q4 and 2024 outlooks continued to be on display.

And while good news on certain Q3 earnings reports has sometimes been bad news for the stock market, on Friday it was bad economic news that translated to good news for stocks as investors digested lower-than-expected Non-farm Payrolls . The US Labor Department reported NFP rose by 150,000 in October. While that was 20,000 fewer than expected, that difference is mostly due to the auto strikes which have since been resolved.

Sleep Number is set to report Q3 2023 results on Tuesday, November 7, five days later than expected. This would be the latest they've ever reported . Vertex Pharmaceuticals is set to report Q3 2023 results on Monday, November 6, eleven days later than expected. This will be the latest they've ever reported third-quarter results in our 18 years of history on this name. This will also be their first Monday report.

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U.S. stocks open slightly higher after biggest weekly gains in about a yearChristine Idzelis is a markets reporter at MarketWatch and is based in New York.
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