Consumer sentiment, Disney earnings reaction, market rally: Three things to watch on Friday

CNBC 0 month ago

Here are the most important things to know about Friday before you hit the door.

1. Disney earnings reaction

Disney posts fiscal fourth-quarter earnings after the bell on Thursday. The report is on the heels of the launch of Disney's new streaming service Disney+. The shares were up about 1% Thursday into the report. Credit Suisse expects the media giant to report earnings of 88 cents per share, compared to the $1.48 per share earned in the same period last year. Rising costs because of the streaming service buildout are to blame for the likely earnings decline.

2. Healthy consumer?

We'll get an early read on the health of the consumer on Friday with November's preliminary consumer sentiment data set to release at 10:00 a.m. Sentiment in the U.S. in October came in at 95.5, higher than September's 93.2, but below the preliminary reading and the Street estimate of 96, according to data released by the University of Michigan.

A higher reading means consumers feel more confident about current and future economic conditions. Economists polled by Dow Jones are expecting a slight fall in sentiment to a reading of 95 in November.

3. Ending a week of record highs

Friday marks the last trading day in a week of record-highs. On Thursday, all three stocks averages hit records after China said the world's two largest economies agreed to remove existing tariffs, raising optimism about a possible resolution to the ongoing U.S.-China trade war.

The news sent bond yields surging with the 10-year Treasury yield jumping to its highest level since President Donald Trump's election. Gold prices fell to a 1-month low as investors fled their safe haven assets.

The S&P 500 is on pace to close out its fifth straight week of gains on Friday.

Major events (all times ET):

10:00 a.m. Consumer sentiment

10:00 a.m. Wholesale trade

11:45 a.m. San Francisco Fed President Mary Daly

8:00 p.m. New York Fed President John Williams

Major earnings:

Allianz (before the bell)

Ameren (before the bell)

Duke Energy (before the bell)

Honda (before the bell)

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