Salem Radio Network News Saturday, December 4, 2021

Business

This Week: Tesla earns, US home sales, AmEx earns

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

CHARGED UP

Wall Street expects another solid quarterly snapshot from Tesla.

Analysts predict the electric vehicle maker will report Wednesday that its earnings and revenue increased in the third quarter versus the same period last year. That would echo the company’s results in the first half of this year. So far this year, Tesla has sold around 627,300 vehicles. That puts it on pace to soundly beat last year’s total of 499,550.

HOUSING MARKET BAROMETER

The National Association of Realtors issues its September tally of U.S. home sales Thursday.

Economists predict sales of previously occupied U.S. homes accelerated to a seasonally adjusted annual rate of 6.1 million properties last month. That would be the highest annual sales rate since February. The pace of home sales eased this summer as soaring prices and a limited number of available homes on the market discouraged many would-be buyers.

Existing home sales, in millions, seasonally adjusted annual rate:

April 5.85

May 5.78

June 5.87

July 6.00

Aug. 5.88

Sept. (est.) 6.10

Source: FactSet

GIVE THEM CREDIT

American Express serves up its latest quarterly report card Friday.

The credit card issuer has benefited this year from increased spending by cardholders as restaurants, shops and entertainment venues came back in force following the rollout of coronavirus vaccines. American Express posted earnings growth in the first two quarters of this year. Analysts expect more of the same from the company’s third-quarter results.

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Gary Varvel
Tue, Nov 23, 2021

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