Company / Analytics

Analytics, 26 October 2020

What will drive the markets this week?

Stocks closed mostly higher last week, even though the major indices registered weekly losses. The tech sector led the losses, with the benchmark ETF - the Technology Select Sector (SPDR ETF) - dropping more than 2% led by losses of more than 4% in Apple and several major semiconductor firms such as Lam Research and Advance Micro Devices (AMD).

This is the final week before the U.S presidential election, and investors will face a deluge of market-moving events, including the presidential election and uncertainty associated with it, corporate earnings reports, and the highly anticipated stimulus bill.

Investors will be looking at earnings from some of the big tech companies: Microsoft reports on Tuesday while Alphabet, Apple, Facebook, and Amazon report Thursday. Other events include the U.S. preliminary GDP growth, and the Michigan consumer sentiment and expectations numbers. Read more on this and other insights on what will drive the market this week.

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