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.
Monday, October 26:
- Market Holiday in Hong Kong for Chung Yeung Day
- German Ifo Business Climate Index (October)
- U.S. New Home Sales (September)
Tuesday, October 27:
- Earnings from: AMD and Microsoft
- U.S. Core Durable Goods Orders (September)
- Conference Board Consumer Confidence (October)
Wednesday, October 28:
- Earnings from: Visa
- Bank of Canada Interest Rate Decision
- Bank of Japan Interest Rate Decision
Thursday, October 29:
- Earnings from: Alphabet, Starbucks, Apple, Twitter, Activision Blizzard, Facebook, and Amazon
- European Central Bank Interest Rate Decision
- U.S. Preliminary Gross Domestic Product (GDP) (Q3)
- U.S. Pending Home Sales
Friday, October 30:
- Eurozone Preliminary GDP (Q3)
- Eurozone Preliminary Consumer Price Index (October)
- Eurozone Unemployment Rate (September)
- U.S. Chicago PMI (October)
- U.S. Personal Consumption Expenditure Index (September)
- Michigan Consumer Expectations and Sentiment (October)
- Chinese Caixin Manufacturing Purchasing Manager’s Index (PMI) (October)
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