Developments for the week
This week, the Fed will reveal details of its plan to cut bond purchases, and the U.S. government will release employment data for October. The U.S. reporting season will continue with earnings and revenue reports from Uber, Pfizer, Moderna, Qualcomm, Square, Airbnb and others.
The key events for U.S. stock market investors this week will be the outcome of the Federal Reserve (Fed) policy committee meeting and one of the key economic reports the unemployment and non-farm payroll growth rate (for October).
The reporting season for U.S. companies continues. Last week, the biggest U.S. banks and bigtech the technology companies with the highest market value released their quarterly earnings and profits: Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Alphabet Google (GOOGL) and others.
This week will also be a busy one, with about 160 companies from the S&P 500 Index due to report, as well as dozens of small- and mid-cap companies.
Arista Networks, NXP Semiconductors, Clorox, McKesson, Public Storage, Franklin Resources, SBA Communications, Simon Property Group and others will publish quarterly results.
ConocoPhillips, Pfizer (PFE), Activision Blizzard (ATVI), Ferrari (RACE), T-Mobile US (TMUS), Match Group, Amgen, Eaton, Estée Lauder, DuPont, Mondelez International, Prudential Financial and others will report earnings and profit.
The Federal Open Market Committee FOMC will announce its decision on monetary policy at the end of the October meeting.
The market will await reports from: Uber Technologies (UBER), Moderna (MRNA), Square (SQ), Airbnb (ABNB), Expedia Group (EXPE), ViacomCBS, Regeneron Pharmaceuticals and others.
Dominion Energy, DraftKings, Johnson Controls International and Sempra Energy will release their quarterly results.
The U.S. Bureau of Labor Statistics will release its October jobs report. Economists forecast an increase of 435,000 nonfarm jobs, with the unemployment rate projected to remain unchanged at 4.8%. The economy added 194,000 jobs in September, about 300,000 less than estimates. Both August and September had large deficits compared to expectations, as labor shortages persisted longer than many economists had expected despite near-record job openings.
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