This Week: Consumer Confidence, Ford Earns, Home Sales

Oct. (est.) 101.5

Source: FactSet

ROUGH ROAD

Ford and other automakers have struggled as the coronavirus forced factories to close and chased customers away from showrooms.

The company slid into the red in the first and second quarters this year as the pandemic crushed its sales. Wall Street expects Ford will report Wednesday that its third-quarter earnings declined from a year earlier as revenue continued to decline. Investors will be listening for commentary from new CEO Jim Farley.

HOUSING MARKET BELLWETHER

A gauge of contracts signed to buy homes is expected to point to a slowing U.S. housing market.

The National Association of Realtors serves up its September pending home sales index Thursday. Economists predict the index rose 0.4% last month. Contract signings are a barometer of finalized purchases over the next two months, which suggests more home sales in October and November. Sales of previously occupied U.S. homes jumped 9.4% in September.

Pending home sales index, monthly percent change:

April -21.8

May 44.4

June 15.8

July 5.9

Aug. 8.8

Sept. (est.) 0.4

Source: FactSet

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