Company / Analytics

Analytics, 06 November 2023

What will drive the markets this week?

Global stock indexes saw significant gains as the U.S. dollar reached a six-week low, while the 10-year U.S. Treasury yields hit a five-week low on Friday. This shift was triggered by data revealing a more substantial slowdown in U.S. job growth than initially expected for October.

The Dow Jones Industrial Average (.DJI) surged by 222.24 points, equivalent to 0.66%, reaching 34,061.32. The S&P 500 (.SPX) also experienced substantial growth, adding 40.56 points or 0.94%, reaching 4,358.34. The Nasdaq Composite (.IXIC) displayed impressive gains, increasing by 184.09 points or 1.38%, reaching 13,478.28.

In Europe, the STOXX 600 index achieved its most significant weekly gain since March on Friday. This was bolstered by real estate stocks sensitive to interest rates, as signs of a potential shift in the monetary policies of major central banks elevated overall market sentiment.

Meanwhile, the Asia-Pacific markets closed the week on an upward trend, with investors scrutinizing fresh data to gain deeper insights into the state of business activity across the region.

This week, we can look forward to the release of various earnings reports from prominent companies, including Uber Technologies (UBER), UBS (UBS), Occidental Petroleum (OXY), Rivian Automotive (RIVN), The Walt Disney Company (DIS), Honda Motor Company (HMC), and Warner Bros. Discovery (WBD), among others.

On Tuesday, the New York Federal Reserve will unveil its quarterly report on household debt and credit, providing valuable insights into the financial well-being of U.S. households during the third quarter. Additionally, on Friday, the University of Michigan will release its Consumer Sentiment Index (MCSI) for November, offering a timely snapshot of consumer sentiment.

Events expected to move the markets this week

Monday, November 6

Tuesday, November 7

Wednesday, November 8

Thursday, November 9

Friday, November 10

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