It will be a big week ahead with dozens of major earnings releases, a Federal Reserve meeting, and the U.S. election.
Americans head to the polls on Tuesday to elect a new president, members of Congress, and numerous state and local offices. It may take several days to learn the final results.
The Federal Open Market Committee concludes a two-day meeting on Thursday, with an interest-rate decision and press conference with Fed Chair Jerome Powell that afternoon. Markets are overwhelmingly pricing in a quarter-point reduction in the federal-funds rate, after the FOMC’s half-point cut in September.
Around 100 S&P 500 companies will release quarterly results this week. Palantir, BioNTech, and Wynn Resorts start things off on Monday, then DuPont, Ferrari, Marathon Petroleum, and Super Micro Computer go on Tuesday.
Wednesday’s earnings highlights will include Albemarle, Arm Holdings, CVS Health, Novo Nordisk, Qualcomm, and Toyota Motor. Airbnb, Moderna, Monster Beverage, and Warner Bros. Discovery report on Thursday, then NRG Energy and Paramount Global close the week on Friday.
Monday 11/4
American International Group, AvalonBay Communities, BioNTech, Celanese, Constellation Energy, Diamondback Energy, Fidelity National Information Services, Franklin Resources, Hologic, Marriott International, NXP Semiconductors, Palantir Technologies, Public Service Enterprise Group, Realty Income, Vertex Pharmaceuticals, Wynn Resorts, and Zoetis release quarterly results.
Tuesday 11/5
Archer-Daniels-Midland, Assurant, Broadridge Financial Solutions, Builders FirstSource, Cummins, Devon Energy, DuPont,Emerson Electric, Ferrari, Gartner, Henry Schein, Jack Henry & Associates, Marathon Petroleum, Microchip Technology, Super Micro Computer, Targa Resources, Thomson Reuters, and Yum! Brands announce earnings.
Americans head to the polls on Election Day with control of all three branches of the federal government at stake. The presidential election between Vice President Kamala Harris and former President Donald Trump looks like a tossup heading into the final days of the race. Republicans are heavily favored to retake control of the Senate, while Democrats are marginally favored to regain control of the House of Representatives.
The Institute for Supply Management releases its Services Purchasing Managers’ Index for October. Consensus estimate is for a 53.5 reading, about 1.5 points lower than in September.
Wednesday 11/6
Albemarle, Ameren, American Electric Power, Ansys, Arm Holdings, Atmos Energy, Cencora, Corteva, CVS Health, Fair Isaac, Gilead Sciences, Howmet Aerospace, Iron Mountain, Johnson Controls International, MarketAxess Holdings, Marathon Oil, Match Group, McKesson, MercadoLibre, Novo Nordisk, Qualcomm, Sempra, Steris,Take-Two Interactive Software, Toyota Motor, and Williams Cos. report quarterly results.
Thursday 11/7
Airbnb, Air Products and Chemicals, Akamai Technologies, Arista Networks, Becton Dickinson, Duke Energy, Expedia Group, Fortinet, Halliburton, Hershey, Insulet, Kenvue, Moderna, Molson Coors Beverage, Monster Beverage, Motorola Solutions, PG&E, Rockwell Automation, Tapestry,TransDigm Group, Vistra, and Warner Bros. Discovery hold conference calls to discuss earnings.
The Federal Open Market Committee announces its monetary-policy decision a day later than usual because of Election Day. The FOMC is widely expected to cut the federal-funds rate by a quarter of a percentage point, to 4.50% – 4.75%. Despite the market’s anticipating five quarter-point rate cuts by the end of 2025, the yield on the 10-year Treasury note has risen from 3.62% to 4.38% since mid-September.
Friday 11/8
NRG Energy and Paramount Global release quarterly results.
The University of Michigan releases its Consumer Sentiment Index for November. Economists forecast a 70.6 reading, roughly even with the October data.
