financetom
Market
financetom
/
Market
/
US Equity Investors to Look Out for Presidential Election Results, Fed Rate Cut, Quarterly Earnings This Week
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US Equity Investors to Look Out for Presidential Election Results, Fed Rate Cut, Quarterly Earnings This Week
Nov 4, 2024 11:38 AM

07:12 AM EST, 11/04/2024 (MT Newswires) -- US equity investors will be mostly focused this week on the presidential election while remaining vigilant about a cut in interest rates from the Federal Reserve and more corporate earnings.

* Tuesday's US election and Thursday's concentration of central bank decisions -- in the US and overseas -- will be the biggest days of the week, according to a note from Scotiabank late Friday.

* "Which effect on markets comes first is unclear given we just don't know when the US election results will be available, let alone who will win the Presidency and both chambers, and how campaign rhetoric may translate into policy over time," Derek Holt, head of capital market economics at Scotiabank, said in the note.

* The Federal Reserve's Open Market Committee will, in all probability, cut the target rate by another 25 basis points. "Consensus is almost unanimous, especially if we home in on expectations across US primary dealers including ourselves," Holt said.

* On the corporate front, quarterly earnings results due this week include those from Arm Holdings ( ARM ) , Qualcomm ( QCOM ) , NXPI Semiconductors (NXPI), Airbnb ( ABNB ) , CVS Health (CVS), Gilead Sciences ( GILD ) , and Wynn Resorts ( WYNN ) .

* With almost 70% of the S&P 500 having reported Q3 results, the index earnings have increased by 5.7% year-over-year, ahead of the FactSet consensus estimate as of Sept. 30 for an increase of 4%, according to a note from D. A. Davidson late Friday.

* The Information Technology sector in the S&P 500 index underperformed expectations by the most, with earnings down 5.3% compared with estimates for 15% growth, as per the note. It said 54% of companies have so far reported earnings.

* FactSet's S&P 500 Q3 blended earnings estimate, which combines reported results with the remaining consensus estimates, currently implies an increase of 5% year-over-year, up from more than 3.5% last week, indicating that remaining results will likely "moderate slightly higher from here," the D. A. Davidson note added.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Japan's Nikkei ends at record high on Wall Street gains, weaker yen
Japan's Nikkei ends at record high on Wall Street gains, weaker yen
Mar 22, 2024
(Updates to closing prices) TOKYO, March 22 (Reuters) - Japan's Nikkei share average closed at an all-time high on Friday, underpinned by record gains on Wall Street overnight and strength in automakers' stocks on a weaker yen. The Nikkei rose 0.18% to end at 40,888.43, after hitting 41,087.75 earlier in the session to break an all-time intraday high. The index,...
Sector Update: Health Care
Sector Update: Health Care
Mar 21, 2024
03:42 PM EDT, 03/21/2024 (MT Newswires) -- Health care stocks rose late Thursday afternoon with the NYSE Health Care Index adding 0.2% and the Health Care Select Sector SPDR Fund (XLV) rising 0.3%. The iShares Biotechnology ETF (IBB) climbed 0.9%. In corporate news, Eledon Pharmaceuticals ( ELDN ) shares surged 12% after it said its tegoprubart monoclonal antibody was used...
Japan's Nikkei hits record high on Wall Street gains, weaker yen
Japan's Nikkei hits record high on Wall Street gains, weaker yen
Mar 21, 2024
TOKYO, March 22 (Reuters) - Japan's Nikkei share average hit a record high on Friday, underpinned by the strength on Wall Street overnight and as a weaker yen prompted investors to buy automakers. The Nikkei rose to as high as 41,087.75 earlier in the session, crossing the 41,000 level for the first time. The index ended 0.07% higher at 40,844.53...
Sector Update: Financial
Sector Update: Financial
Mar 21, 2024
03:19 PM EDT, 03/21/2024 (MT Newswires) -- Financial stocks advanced late Thursday afternoon, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each rising 0.9%. The Philadelphia Housing Index climbed 1.8%, and the Real Estate Select Sector SPDR Fund (XLRE) was adding 0.4% Bitcoin (BTC-USD) dropped 4% to $65,176, and the yield for 10-year US Treasuries...
Copyright 2023-2025 - www.financetom.com All Rights Reserved