The biggest week of the third-quarter earnings season and the last batch of economic data before the Federal Reserve's November meeting will keep investors busy this week. The U.S. election looms, with early voting open in many states.
More than 150 S&P 500 companies are scheduled to report this week. Ford and Waste Management report on Monday, followed by Advanced Micro Devices , Google-parent Alphabet , Chipotle Mexican Grill, McDonald's , PayPal, and Pfizer on Tuesday.
Wednesday's highlights include Caterpillar, Coinbase Global, Inc., eBay, Eli Lilly, Facebook and Instagram owner Meta Platforms, Inc. , and Microsoft . Amazon.com, Apple, Comcast, ConocoPhillips , Intel , MasterCard , and Uber report on Thursday. Finally, Chevron and Exxon Mobil close the week on Friday.
The economic-data highlight of the week will be Friday's jobs report for October from the Bureau of Labor Statistics. Economists are forecasting a gain of 108,000 nonfarm payrolls, after a 254,000 increase in September. The unemployment rate is expected to hold steady at 4.1%. On Tuesday, the BLSS will also publish the Job Openings and Labor Turnover Survey for the last business day of September.
Other data to watch will be the Bureau of Economic Analysis' advance estimate of third-quarter gross domestic product on Wednesday and the personal consumption expenditures price index for September on Thursday.
The Bank of Japan announces a monetary-policy decision on Thursday. It is widely expected to keep its benchmark interest-rate target at 0.25%.
Monday 10/28
Brown & Brown, Cadence Design, Ford , Waste Management release quarterly results.
Tuesday 10/29
Advanced Micro Devices, Alphabet, American Tower, Corning, D.R. Horton, Electronic Arts, EQT Corp, FirstEnergy, First Solar, McDonald's, Novartis AG, PayPal, Pfizer, Phillips 66 announce earnings.
S&P CoreLogic releases the Case-Shiller National Home Price Index for August. Home prices continued to hit record highs in July with a 5%, year-over-year gain. New York and Las Vegas led the way with increases of more than 8%, while Portland was a laggard with a 0.8% rise.
The BLS releases the Job Openings and Labor Turnover Survey. The consensus estimate is for 7.9 million job openings on the last business day of September, about 100,000 fewer than in August.
Wednesday 10/30
AbbVie , Automatic Data Processing Inc, Biogen, Booking Holdings, Bunge, Caterpillar, CF Industries Holdings Inc, Coinbase Global, Inc., eBay, Eli Lilly, GE HEALTHCARE TECHNOLOGIES INC, GoDaddy, Hess, The Kraft Heinz Company, MGM Resorts International, Meta Platforms, Inc., Microsoft, MicroStrategy, Starbucks report quarterly results.
ADP releases its National Employment Report for October. Economists forecast a 95,000 increase in private-sector employment, 48,000 fewer than in September.
The BEA releases its advance estimate of third-quarter gross domestic product growth. Expectations are for GDP to have grown at a seasonally adjusted annual rate of 3%, which would match the second quarter's growth rate.
Thursday 10/31
Amazon.com, Apple, Bristol-Myers Squibb, THE CIGNA GROUP, Comcast, ConocoPhillips, Estee Lauder, Intercontinental Exchange, Intel, Juniper Networks, MasterCard, Merck, Norwegian Cruise Line, Uber hold conference calls to discuss earnings.
The BEA releases the personal consumption expenditures price index for September. Economists forecast a 2.1% year-over-year increase for the PCE price index, one-tenth of a percentage point less than in August. The core PCE, which strips out food and energy prices, is expected to rise 2.6%, after a 2.7% gain previously.
The Bank of Japan announces its monetary-policy decision. The central bank is expected to keep its key short-term interest rate unchanged at 0.25%.
Friday 11/1
Chevron, Dominion Energy, Inc., Exxon Mobil release quarterly results.
The BLS releases the jobs report for October. Consensus estimate is for a 108,000 increase in nonfarm payrolls, after a 254,000 gain in September. The unemployment rate is expected to remain unchanged at 4.1%. Hurricanes Helene and Milton, which hit the Southeast in late September and early October, could distort the data.
The Institute for Supply Management releases its Manufacturing Purchasing Managers' Index for October. The consensus call is for a 47.6 reading, slightly higher than the September figure.
