What will drive the markets this week?
Global stocks ended mostly higher on Friday last week following a week of highly volatile trading. On Wall Street, equities snapped out of a four-session losing streak that ensured all three major US indices ended in weekly losses.
In Europe and Asia, hopes of an easing in China’s tough COVID-19 curbs supported some areas of the market with the Pan-European index and most Asian indices with the exception of Japanese indices closing higher on Friday.
This week, With roughly 80% of S&P 500 companies having reported their earnings so far, investors can expect a more subdued pace of earnings releases in the week. Some large companies scheduled to report include The Walt Disney Company, AstraZeneca, BioNTech, Activision Blizzard, DuPont, and Norwegian Cruise Line, among others. The October CPI inflation report on Thursday could offer clues on the recent trajectory of consumer prices and how it could impact the Federal Reserve’s monetary policy agenda. On Friday, the University of Michigan will release its preliminary Consumer Sentiment Index (MCSI) for November, providing a key update on consumer confidence. Market watchers can also expect economic updates from the U.K., as the Office for National Statistics will release preliminary GDP figures for the third quarter.
Events expected to influence financial markets in the week
Monday, November 7
- Activision Blizzard (ATVI), BioNTech (BNTX), Diamondback Energy (FANG), Welltower Inc. (WELL), International Flavors & Fragrances (IFF), Franco-Nevada Corp. (FNV), Tata Motors (TTM), Take-Two Interactive Software (TTWO), The Mosaic Company (MOS), Palantir Technologies (PLTR), Ryanair Holdings (RYAAY), Alliant Energy (LNT), SolarEdge Technologies (SEDG), and Viatris Inc. (VTRS) report earnings
- Consumer Credit Change (Sep)
Tuesday, November 8
- The Walt Disney Company (DIS), Occidental Petroleum (OXY), GlobalFoundries Inc. (GFS), Constellation Energy (CEG), DuPont (DD), Alcon Inc. (ALC), Lucid Group (LCID), Fidelity National Financial (FNF), News Corporation (NWS), and Norwegian Cruise Line Holdings (NCLH) report earnings
- NFIB Business Optimism Index (Oct)
- China Inflation Rate (Oct)
Wednesday, November 9
- TC Energy Corp. (TRP), Southern Copper Corp. (SCCO), Manulife Financial Corp. (MFC), Coupang (CPNG), Rivian Automotive (RIVN), D.R. Horton (DHI), Roblox Corp. (RBLX), and The Trade Desk (TTD) report earnings
Thursday, November 10
- AstraZeneca (AZN), Becton Dickinson (BDX), Brookfield Asset Management (BAM), NIO Inc. (NIO), NICE Systems Ltd. (NICE), Toast Inc. (TOST), Aegon (AEG), Celsius Holdings (CELH), U.S. Foods Corp. (USFD), Ralph Lauren (RL), Dillard’s Inc. (DDS), Weibo Corp. (WB), and WeWork (WE) report earnings
- Consumer Price Index (CPI) Inflation Report (Oct)
Friday, November 11
- Sumitomo Mitsui Financial Group (SMFG), Mizuho Financial Group (MFG), Algonquin Power & Utilities Corp. (AQN), and Embraer (ERJ) report earnings
- University of Michigan Consumer Sentiment Index - Preliminary Reading (Nov)
- U.K. GDP Growth Rate - Preliminary Reading (Q3 2022)
- U.K. Industrial Production (Sep)
- Germany Inflation Rate (Oct)