The Week Ahead For The First Week Of November
The S&P 500 and NASDAQ 100, Russell 2000 and Dow Jones Industrial Average were lower for the week.
1.Geopolitical and Fiscal Events. The Presidential and lower ballot elections will be held on Tuesday. The Federal Reserve Open Market Committee (FOMC) is out with its latest decision on Thursday.
2.Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as construction spending, ISM Manufacturing Index, factory orders, ADP Employment Index, ISM Non-Manufacturing Index and Nonfarm Payrolls as well as the unemployment rate.
3.Earnings Releases. Notable releases this upcoming week include PYPL EL HUM ETN QCOM MELI BABA TMUS CVS ENB
Monday, November 2
September Construction Spending is due out at 10:00 a.m. EST and is expected to fall to 0.9% from 1.4%.
October ISM Manufacturing Index is also due out at 10:00 a.m. EST and is expected to rise to 55.7% from 55.4%.
Tuesday, November 3
September Factory Orders are due out at 10:00 a.m. EST and is expected to rise to 1.1 % from 0.7%.
Wednesday, November 4
October ADP Employment Report is due out at 8:15 a.m. EST and is expected to fall to 600,000 from 749,000.
The Federal Reserve Open Market Committee (FOMC) begins its second to last meeting of 2020.
Thursday, November 5
The FOMC will conclude its meeting with their announcement at 2:00 p.m. EST followed by a press conference at 2:30 p.m. EST.
Friday, November 6
October Nonfarm Payrolls are due out at 8:30 a.m. EDT and is expected to fall to 570,000 from 661,000. The unemployment rate is expected to drop to 7.7% from 7.9%
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