Monday October 31, 2022: $153.34 -($2.40) -(1.54%)
Oct 31, 2022 1:46:43 GMT -8
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Post by Dave on Oct 31, 2022 1:46:43 GMT -8
Good morning and Happy Halloween. Will this be a trading day of trick or treat? The pre-market is red this morning at -0.49% at this moment. Carry on.
What to Expect in the Markets Next Week
What to Expect in the Markets Next Week
Events Calendar:
Monday, October 31
Notable Earnings: Stryker (SYK), The Williams Companies (WMB), Aflac (AFL), NXP Semiconductors (NXPI), Global Payments Inc. (GPN), Arista Networks Inc. (ANET), ON Semiconductor Corp. (ON), SBA Communications (SBAC), American Water Works (AWK), Hologic Inc. (HOLX), Cincinnati Financial Corp. (CINF), Avis Budget Group (CAR), and XPO Logistics (XPO)
Chicago Purchasing Managers’ Index (PMI) (Oct)
Dallas Fed Manufacturing Index (Oct)
Tuesday, November 1
Notable Earnings: Eli Lilly (LLY), Pfizer (PFE), Advanced Micro Devices (AMD), BP (BP), Sony (SONY), Mondelez International (MDLZ), Airbnb (ABNB), Uber (UBER), Marathon Petroleum (MPC), McKesson Corp. (MCK), and Enterprise Products Partners (EPD)
JOLTS Report: Job Openings, Hires, Quits, and Separations (Oct)
S&P Global Manufacturing PMI - Final Reading (Oct)
ISM Manufacturing PMI (Oct)
Construction Spending (Sep)
Day 1 of November FOMC Policy Meeting
Wednesday, November 2
Notable Earnings: Novo Nordisk (NVO), Qualcomm (QCOM), CVS Health Corp. (CVS), Estee Lauder (EL), Booking Holdings (BKNG), Humana (HUM), GSK (GSK), MetLife Inc. (MET), Etsy (ETSY), American Financial Group (AFG), Robinhood (HOOD), XP Inc. (XP), Zillow Group (Z), Roku Inc. (ROKU), Valvoline Inc. (VVV), The New York Times Company (NYT), and Sunrun Inc. (RUN)
ADP Private-Sector Payrolls Report (Oct)
Day 2 of November FOMC Policy Meeting; Interest Rate Decision and Press Conference
Thursday, November 3
Notable Earnings: Toyota Motor Company (TM), ConocoPhillips (COP), Amgen (AMGN), Paypal Holdings (PYPL), Starbucks (SBUX), Cigna (CI), Regeneron Pharmaceuticals (REGN), EOG Resources Inc. (EOG), Zoetis Inc. (ZTS), Canadian Natural Resources Ltd. (CNQ), Moderna (MRNA), Intercontinental Exchange (ICE), Atlassian Corp. (TEAM), Marriott International (MAR), Fidelity National Information Services (FIS), Monster Beverage Corp. (MNST), and Kellogg (K)
U.S. Balance of Trade (Sep)
S&P Global Composite PMI - Final Reading (Oct)
ISM Non-Manufacturing PMI (Oct)
Factory Orders (Sep)
Vehicle Sales (Oct)
Friday, November 4
Notable Earnings: Enbridge (ENB), Duke Energy (DUK), Dominion Energy (D), The Hershey Company (HSY), ENI (E), Honda Motor Company (HMC), Cardinal Health (CAH), Magna International (MGA), and Royal Caribbean Group (RCL)
Nonfarm Payrolls Report (Oct)
Consumer Credit (Sep)
More Earnings Still to Come
Markets are gearing up for another busy week of corporate earnings, as earnings season enters its third week. A number of prominent companies from different sectors are scheduled to report next week. Pharmaceutical giants Eli Lilly and Pfizer will report on Tuesday, while Moderna and Regeneron Pharmaceuticals will follow on Thursday. Two of the world’s largest automakers, Toyota and Honda Motor Company, will report on Thursday and Friday, respectively. Investors can also expect earnings from companies in the energy sector, including ConocoPhillips, Phillips 66, Devon Energy, and Marathon Oil. Airbnb, Uber, PayPal, Stryker, Cigna, Starbucks, Kellogg’s, and The Hershey Company will also report next week, among many others.
Fed’s Rate Hikes Likely to Continue
Starting on Tuesday, policymakers at the U.S. Federal Reserve will gather for the two-day November policy meeting of the Federal Open Market Committee (FOMC). The U.S. central bank is widely expected to raise its benchmark federal funds rate by another 75 basis points (bps) as it continues to combat persistently high inflation. The Fed has tightened monetary policy at the fastest pace in over 40 years this year, raising interest rates by a cumulative 300 bps since March. Fed officials are projecting a year-end federal funds rate of roughly 4.5%.
Is the U.S. Economy Still Adding Jobs?
The latest updates on the U.S. labor market will become available next week. On Tuesday, the Bureau of Labor Statistics (BLS) will release its monthly Job Openings and Labor Turnover Survey (JOLTS) report for September, tracking job openings, hires, quits, and separations for the month. Job openings in the U.S. recorded a steep decline in August, falling to 10.05 million from 11.17 million in September. Job openings have been on a downward trend in recent months from a peak of 11.85 million openings in March, as the labor market has cooled.
On Wednesday, payroll services provider ADP will release its National Employment Report, tracking growth in private sector payrolls in October. Private sector payrolls are projected to have risen by 198,000 in October, decelerating slightly from a 208,000 gain in September. Growth in private sector payrolls has moderated in recent months, from a recent peak of 457,000 in April.
On Friday, market watchers will receive what could be the most important indicator on the health of the labor market, as the BLS will release its nonfarm payrolls report for October. The U.S. economy is projected to have added 220,000 jobs in October, which would mark a slight deceleration from a 263,000 gain in September. Job growth has slowed in recent months as the Federal Reserve hikes interest rates. The unemployment rate is projected to tick higher to 3.6%, up slightly from the current rate of 3.5%—a level that matches the pre-pandemic rate of February 2020.
Monday, October 31
Notable Earnings: Stryker (SYK), The Williams Companies (WMB), Aflac (AFL), NXP Semiconductors (NXPI), Global Payments Inc. (GPN), Arista Networks Inc. (ANET), ON Semiconductor Corp. (ON), SBA Communications (SBAC), American Water Works (AWK), Hologic Inc. (HOLX), Cincinnati Financial Corp. (CINF), Avis Budget Group (CAR), and XPO Logistics (XPO)
Chicago Purchasing Managers’ Index (PMI) (Oct)
Dallas Fed Manufacturing Index (Oct)
Tuesday, November 1
Notable Earnings: Eli Lilly (LLY), Pfizer (PFE), Advanced Micro Devices (AMD), BP (BP), Sony (SONY), Mondelez International (MDLZ), Airbnb (ABNB), Uber (UBER), Marathon Petroleum (MPC), McKesson Corp. (MCK), and Enterprise Products Partners (EPD)
JOLTS Report: Job Openings, Hires, Quits, and Separations (Oct)
S&P Global Manufacturing PMI - Final Reading (Oct)
ISM Manufacturing PMI (Oct)
Construction Spending (Sep)
Day 1 of November FOMC Policy Meeting
Wednesday, November 2
Notable Earnings: Novo Nordisk (NVO), Qualcomm (QCOM), CVS Health Corp. (CVS), Estee Lauder (EL), Booking Holdings (BKNG), Humana (HUM), GSK (GSK), MetLife Inc. (MET), Etsy (ETSY), American Financial Group (AFG), Robinhood (HOOD), XP Inc. (XP), Zillow Group (Z), Roku Inc. (ROKU), Valvoline Inc. (VVV), The New York Times Company (NYT), and Sunrun Inc. (RUN)
ADP Private-Sector Payrolls Report (Oct)
Day 2 of November FOMC Policy Meeting; Interest Rate Decision and Press Conference
Thursday, November 3
Notable Earnings: Toyota Motor Company (TM), ConocoPhillips (COP), Amgen (AMGN), Paypal Holdings (PYPL), Starbucks (SBUX), Cigna (CI), Regeneron Pharmaceuticals (REGN), EOG Resources Inc. (EOG), Zoetis Inc. (ZTS), Canadian Natural Resources Ltd. (CNQ), Moderna (MRNA), Intercontinental Exchange (ICE), Atlassian Corp. (TEAM), Marriott International (MAR), Fidelity National Information Services (FIS), Monster Beverage Corp. (MNST), and Kellogg (K)
U.S. Balance of Trade (Sep)
S&P Global Composite PMI - Final Reading (Oct)
ISM Non-Manufacturing PMI (Oct)
Factory Orders (Sep)
Vehicle Sales (Oct)
Friday, November 4
Notable Earnings: Enbridge (ENB), Duke Energy (DUK), Dominion Energy (D), The Hershey Company (HSY), ENI (E), Honda Motor Company (HMC), Cardinal Health (CAH), Magna International (MGA), and Royal Caribbean Group (RCL)
Nonfarm Payrolls Report (Oct)
Consumer Credit (Sep)
More Earnings Still to Come
Markets are gearing up for another busy week of corporate earnings, as earnings season enters its third week. A number of prominent companies from different sectors are scheduled to report next week. Pharmaceutical giants Eli Lilly and Pfizer will report on Tuesday, while Moderna and Regeneron Pharmaceuticals will follow on Thursday. Two of the world’s largest automakers, Toyota and Honda Motor Company, will report on Thursday and Friday, respectively. Investors can also expect earnings from companies in the energy sector, including ConocoPhillips, Phillips 66, Devon Energy, and Marathon Oil. Airbnb, Uber, PayPal, Stryker, Cigna, Starbucks, Kellogg’s, and The Hershey Company will also report next week, among many others.
Fed’s Rate Hikes Likely to Continue
Starting on Tuesday, policymakers at the U.S. Federal Reserve will gather for the two-day November policy meeting of the Federal Open Market Committee (FOMC). The U.S. central bank is widely expected to raise its benchmark federal funds rate by another 75 basis points (bps) as it continues to combat persistently high inflation. The Fed has tightened monetary policy at the fastest pace in over 40 years this year, raising interest rates by a cumulative 300 bps since March. Fed officials are projecting a year-end federal funds rate of roughly 4.5%.
Is the U.S. Economy Still Adding Jobs?
The latest updates on the U.S. labor market will become available next week. On Tuesday, the Bureau of Labor Statistics (BLS) will release its monthly Job Openings and Labor Turnover Survey (JOLTS) report for September, tracking job openings, hires, quits, and separations for the month. Job openings in the U.S. recorded a steep decline in August, falling to 10.05 million from 11.17 million in September. Job openings have been on a downward trend in recent months from a peak of 11.85 million openings in March, as the labor market has cooled.
On Wednesday, payroll services provider ADP will release its National Employment Report, tracking growth in private sector payrolls in October. Private sector payrolls are projected to have risen by 198,000 in October, decelerating slightly from a 208,000 gain in September. Growth in private sector payrolls has moderated in recent months, from a recent peak of 457,000 in April.
On Friday, market watchers will receive what could be the most important indicator on the health of the labor market, as the BLS will release its nonfarm payrolls report for October. The U.S. economy is projected to have added 220,000 jobs in October, which would mark a slight deceleration from a 263,000 gain in September. Job growth has slowed in recent months as the Federal Reserve hikes interest rates. The unemployment rate is projected to tick higher to 3.6%, up slightly from the current rate of 3.5%—a level that matches the pre-pandemic rate of February 2020.