USA TODAY US Edition
What to watch
Dow Jones stocks headline profit releases
With not a single economic data point set for release Wednesday, Wall Street’s eyes will be turned to profit reports from three brand-name U.S. companies from the iconic blue-chip Dow Jones industrial average.
Investors will get results from soft-drink giant Coca-Cola, aerospace player Boeing and financial services firm American Express.
Like the big-picture earnings season, expectations aren’t exactly sky high for any of the blue chip companies.
Earnings per share vs. the same quarter a year ago are expected to dip slightly for both Coca-Cola and American Express, according to earnings tracker Thomson Reuters.
Wall Street analysts are forecasting Coca-Cola to earn 50 cents a share in the just-ended third quarter, down 5.6% from the 53 cents earned in the third quarter of 2014.
American Express is seen earning $1.31 per share, or 6.4% below the $1.40 it earned a year ago.
Expectations are higher for airplane maker Boeing. Analysts are expecting Boeing to earn $2.22 per share, or 3.6% above last year’s $2.14, Thomson Reuters data show.
The Dow, which finished virtually unchanged Tuesday after a big plunge in IBM shares due to its downbeat full-year outlook was offset by gains in Dow components Travelers, United Technologies and Verizon, will probably need some solid earnings beats Wednesday to keep chugging higher.