Election Day, a Fed rate cut, and more AI earnings: What to watch in the markets this week
After a whirlwind week of tech earnings, it’s time to take a deep breath and fasten your seat belts again for another big ride. This week is expected to be intense, high-stakes, and perhaps exhausting as Americanshead to the polls to decide the country’s 47th president.
Election Day falls on Tuesday, Nov. 5. Hopefully, by the end of the week, the world will know who will lead the nation — Kamala Harris or Donald Trump. Current polls show an incredibly close race, suggesting a tight contest that could bring volatility to markets and emotions alike.
The historic event will likely impact market sentiment, and investors will need to stay tuned to stock market movements and macroeconomic indicators. Election outcomes can significantly affect the market’s direction, shaping policies that impact industries, fiscal policy, and international relations. As results unfold, expect heightened activity in the markets and prepare for potential shifts in market strategy based on the election’s outcome.
Super Micro Computer and Palantir to report earnings
Palantir Technologies (PLTR) is set to release its earnings report on Monday after the market closes. Known for its advanced AI tools used by military and intelligence agencies, Palantir has become a prominent player amid the tech world’s ongoing AI surge.
On Wednesday, Novo Nordisk (NVO) and CVS Health (CVS) will announce their earnings before the opening bell. Later that day, AMC Entertainment (AMC), a popular “meme stock,” and QUALCOMM (QCOMM), a key player in wireless technology, will release their results after the market closes. Super Micro Computer (SMCI), which faces the threat of delisting from the Nasdaq, is also expected to report on Wednesday, although the exact timing remains unconfirmed.
Airbnb (ABNB) is scheduled to report earnings on Thursday after the market closes, shedding light on its performance amid shifting travel trends.
Finally, on Friday, Paramount Global (PARA) and Trump Media & Technology (DJT) will release their earnings, providing insights into their standing within the media and social media landscapes, respectively.
Interest rate decision due this week
This week, several significant macroeconomic reports are scheduled for release, beginning on Tuesday with the U.S. trade deficit figures for September. This data is crucial for understanding the country’s trade dynamics and overall economic health.
On Thursday, two important reports will be issued: the weekly initial jobless claims and the consumer credit report for September. Moreover, investors will closely monitor the Federal Open Market Committee’s interest rate decision, as well as the subsequent press conference featuring Fed Chair Jerome Powell. This announcement will be pivotal in shaping market expectations regarding monetary policy and interest rates.
Finally, on Friday, the preliminary consumer sentiment index will be released, offering a glimpse into consumer confidence levels.
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