A Federal Reserve meeting, the latest U.S. jobs data, and another packed stretch of third-quarter earnings season will keep investors busy this week. Around 150 S&P 500 companies are scheduled to report.
The highlight of the week will come on Wednesday, however, when the Federal Open Market Committee concludes a two-day meeting. An interest-rate decision is due at 2 p.m. ET and Fed chairman Jerome Powell holds a press conference half an hour later.
The week’s earnings calendar is loaded, starting with McDonald’s and Simon Property Group on Monday. Advanced Micro Devices, Anheuser-Busch InBev, Caterpillar, and Pfizer report on Tuesday. On Wednesday, Airbnb, CVS Health, DoorDash, Electronic Arts, Kraft Heinz, PayPal Holdings, Qualcomm, and Yum! Brands all report.
Apple, Booking Holdings, ConocoPhillips, Eli Lilly, Moderna, Novo Nordisk, and Starbucks will publish results on Thursday, then Cboe Global Markets and Dominion Energy close the week on Friday.
Economists and investors will be closely watching this week’s labor-market numbers. On Wednesday, the Bureau of Labor Statistics will release the Job Openings and Labor Turnover Survey for September. On Friday, the BLS will release the jobs report for October. Economists are forecasting no change in the unemployment rate, currently at 3.8%.
Other economic data out this week will include the Conference Board’s Consumer Confidence Index for October on Tuesday, ISM’s Manufacturing Purchasing Managers’ Index for October on Wednesday, and the October Services PMI on Friday.
Monday 10/30
Arch Capital Group, Arista Networks, McDonald’s, ON Semiconductor, Pinterest, $Public Storage(PSA-N)$, Simon Property Group, and Welltower release quarterly results.
Tuesday 10/31
AMD, Amgen, Anheuser-Busch, BP, Caesars Entertainment, Caterpillar, Eaton, Ecolab, GE HealthCare Technologies, Marathon Petroleum, MSCI, Pfizer, and Sysco announce earnings.
S&P CoreLogic releases the Case-Shiller National Home Price Index for August. Consensus estimate is for home prices to rise 1.6% year over year, following a 1% gain in July.
The Conference Board releases its Consumer Confidence Index for October. Expectations are for a 100 reading, three points less than in September.
The Institute for Supply Management releases the Chicago Business Barometer for October. Economists forecast a 44.8 reading, slightly higher than in September.
Wednesday 11/1
Aflac, Airbnb, Allstate, American International Group, Apollo Global Management, Clorox, CVS, DoorDash, DuPont, Electronic Arts, Energy Transfer, Estée Lauder, Generac Holdings, GSK, Humana, Kraft Heinz, MetLife, Martin Marietta Materials, McKesson, Mondelez International, Norwegian Cruise Line Holdings, PayPal, Prudential Financial, Qualcomm, TE Connectivity, Trane Technologies, Williams Cos., and Yum! Brands report quarterly results.
The Federal Open Market Committee announces its monetary-policy decision. Wall Street is nearly unanimous in expecting the FOMC to leave the federal-funds rate unchanged at 5.25%-5.50%. Traders are pricing in a one-in-five chance the Fed hikes interest rates by a quarter of a percentage point at its last meeting of the year, in mid-December.
The Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey for September. The consensus call is for 9.3 million job openings, 300,000 less than in August.
The ISM releases its Manufacturing Purchasing Managers’ Index for October. The index is seen remaining unchanged from September’s level of 49.
ADP releases its National Employment Report for September. Expectations are for an increase of 135,000 private-sector jobs, after a 89,000 gain in August.
Thursday 11/2
American Electric Power, Apple, Booking Holdings, Cencora, Cigna, ConocoPhillips, Cummins, Duke Energy, Eli Lilly, Expedia Group, Fortinet, Intercontinental Exchange, Marriott International, Moderna, Novo Nordisk, Regeneron Pharmaceuticals, Rockwell Automation, S&P Global, SBA Communications, Shell, SouthernCo. , Starbucks, and Stryker hold conference calls to discuss earnings.
Friday 11/3
Cardinal Health, Cboe Global Markets, Dominion Energy, Gartner, Sempra report quarterly results.
The BLS releases the jobs report for October. Consensus estimate is for the economy to have added 175,00 nonfarm payrolls, after an increase of 336,000 in September. The unemployment rate is expected to remain unchanged at a historically low level of 3.8%.
The ISM releases its Services PMI for October. Economists forecast a 53.1 reading, half a point less than in September.