Market Outlook for the Week

This week is expected to be eventful for investors, with several key events and earnings reports on the horizon. Notably, the Federal Reserve meeting, U.S. jobs data, and a slew of third-quarter earnings reports are set to take center stage.

Federal Reserve Meeting

On Wednesday, all eyes will be on the Federal Open Market Committee (FOMC) as they conclude their two-day meeting. Scheduled at 2 p.m. ET, the interest-rate decision will be closely watched by investors. Following the decision, Fed chairman Jerome Powell will hold a press conference half an hour later.

Earnings Season Continues

The week's earnings calendar is packed with around 150 S&P 500 companies scheduled to report. Some notable companies releasing their reports include McDonald's, Simon Property Group, Advanced Micro Devices, Anheuser-Busch InBev, Caterpillar, and Pfizer.

On Wednesday, a range of companies, including Airbnb, CVS Health, DoorDash, Electronic Arts, Kraft Heinz, PayPal Holdings, Qualcomm, and Yum! Brands, will publish their financial results.

Thursday will see reports from Apple, Booking Holdings, ConocoPhillips, Eli Lilly, Moderna, Novo Nordisk, and Starbucks. The week will wrap up with reports from Cboe Global Markets and Dominion Energy on Friday.

Labor Market Numbers

Investors and economists will closely monitor the labor-market numbers due this week. On Wednesday, the Bureau of Labor Statistics will release the Job Openings and Labor Turnover Survey for September. Then, on Friday, the jobs report for October will be unveiled. Economists are predicting no change in the current unemployment rate of 3.8%.

Other Economic Data

Aside from the labor-market numbers, several other economic data releases are scheduled for this week. On Tuesday, the Conference Board will release the Consumer Confidence Index for October. Wednesday will see the release of ISM's Manufacturing Purchasing Managers' Index for October. Lastly, on Friday, the October Services PMI will be published.

Stay tuned for updates and analysis throughout the week as these key events and data releases unfold.

Monday 10/30

Several companies, including Arch Capital Group, Arista Networks, McDonald’s, ON Semiconductor, Pinterest, Public Storage, Simon Property Group, and Welltower, will be releasing their quarterly results.

Tuesday 10/31

AMD, Amgen, Anheuser-Busch, BP, Caesars Entertainment, Caterpillar, Eaton, Ecolab, GE HealthCare Technologies, Marathon Petroleum, MSCI, Pfizer, and Sysco will announce their earnings.

S&P CoreLogic will release the Case-Shiller National Home Price Index for August. It is estimated that home prices will rise by 1.6% year over year, following a 1% gain in July.

The Conference Board will release its Consumer Confidence Index for October. It is expected that the index will have a reading of 100, which is three points lower than in September.

The Institute for Supply Management will release the Chicago Business Barometer for October. Economists predict that the reading will be 44.8, slightly higher than in September.

Wednesday 11/1

Aflac, Airbnb, Allstate, American International Group, Apollo Global Management, Clorox, CVS, DoorDash, DuPont, Electronic Arts, Energy Transfer, Estée Lauder, Generac Holdings, GSK, Humana, Kraft Heinz, MetLife, Martin Marietta Materials, McKesson, Mondelez International, Norwegian Cruise Line Holdings, PayPal, Prudential Financial, Qualcomm, TE Connectivity, Trane Technologies, Williams Cos., and Yum! Brands will report their quarterly results.

The Federal Open Market Committee will announce its monetary-policy decision. It is widely expected that the FOMC will leave the federal-funds rate unchanged at 5.25%-5.50%. There is a one-in-five chance that interest rates will be increased by a quarter of a percentage point at the Fed's last meeting of the year, in mid-December.

Job Openings and Labor Turnover Survey

The Bureau of Labor Statistics has released the Job Openings and Labor Turnover Survey for September. According to the consensus, there were 9.3 million job openings, which is 300,000 fewer than in August.

Manufacturing Purchasing Managers' Index

The ISM has also released its Manufacturing Purchasing Managers' Index for October. It is expected that the index will remain unchanged from September's level of 49.

National Employment Report

ADP has released its National Employment Report for September. Expectations are for an increase of 135,000 private-sector jobs, following an 89,000 gain in August.

Earnings Conference Calls

On Thursday 11/2, several companies such as American Electric Power, Apple, Booking Holdings, Cencora, Cigna, ConocoPhillips, Cummins, Duke Energy, Eli Lilly, Expedia Group, Fortinet, Intercontinental Exchange, Marriott International, Moderna, Novo Nordisk, Regeneron Pharmaceuticals, Rockwell Automation, S&P Global, SBA Communications, Shell, SouthernCo., Starbucks, and Stryker will be holding conference calls to discuss their earnings.

Quarterly Results

On Friday 11/3, Cardinal Health, Cboe Global Markets, Dominion Energy, Gartner, and Sempra will report their quarterly results.

Jobs Report and Services PMI

The BLS will release the jobs report for October. The consensus estimate is that the economy added 175,000 nonfarm payrolls after an increase of 336,000 in September. The unemployment rate is expected to remain unchanged at a historically low level of 3.8%. The ISM will also release its Services PMI for October. Economists forecast a reading of 53.1, which is half a point lower than in September.