Canadian Markets Week Ahead: Big 6 Bank Earnings, Q3 GDP, October By Investing.com

TSX Flat; Miners Weigh; Federal Deficit Sharply Lower As Pandemic Benefits Expire

Canadian Markets Week Ahead: Big 6 Bank Earnings, Q3 GDP, October

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By Ketki Saxena

Investing.com -- It’s set to be a big week on Bay Street, with earnings due from all six of Canada’s big banks. Scotiabank (TSX:BNS) kicks of the Q3 earnings season on Tuesday, followed by National Bank of Canada (TSX:NA) and RBC on Wednesday, and TD, BMO, and CIBC (TSX:CM) closing out the season on Thursday.

Analysts expect a “kitchen sink” quarter from the big banks as macro headwinds pressure capital market and asset management revenue, while the banks continue to shore up provisions for credit losses.

In Canadian economics, we’re set to see some major data including the employment report for November and Q3 GDP, expected at just above 1.0% (annualized) as the Bank of Canada’s policy tightening cools the Canadian economy.

Monday, November 28

In Canadian Economics: Current Account Balance (Q3)
No Major TSX earnings
No major US earnings or economic data

Tuesday, November 29

In Canadian Economics: Real GDP (Q3) and Monthly Real GDP (Sept)
In the US: Conference Board Consumer Confidence Index
TSX Earnings: Scotiabank, Roots, Shaw Communications

Wednesday, November 30

No Major Canadian Economic Data
TSX earnings: National Bank of Canada, Royal Bank of Canada (TSX:RY)
In the US: ADP (NASDAQ:ADP) National Employment Report, Real GDP, Pending Home Sales, Beige Book
US Earnings: Salesforce

Thursday, December 1

In Canadian economics: Labour Productivity, Manufacturing PMI
TSX earnings: TD Bank (TSX:TD), Bank of Montreal (TSX:BMO), CIBC
In the US: Initial Jobless Claims, Personal Income & Consumption, Construction Spending
US Earnings: Dollar General (NYSE:DG), Kroger (NYSE:KR)

Friday, December 2

In Canadian Economics: Employment Report
TSX earnings: Canadian Western Bank (TSX:CWB)
In the US: Jobs Report

View all earnings.

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