Wall Street week ahead: Investors eye Fed survey on banking conditions, US trade deficit data
In the week ahead on the Wall Street, the focus of investors will be on the release of a Federal Reserve survey on banking conditions and the US trade deficit data.
The Fed Senior Loan Officer Opinion Survey (SLOOS) is to be released on November 6 and the trade deficit data is due on November 7. Data on initial jobless claims is to be released on November 9.
Earnings
Following companies are due to declare their quarter results – NXP Semiconductors, Goodyear Tire & Rubber, Diamondback Energy, Gilead Sciences, Uber Technologies, UBS Group, Globalfoundries, Rivian Automotive, eBay, Coupang, Warner Bros. Discovery, Ralph Lauren, Disney, Biogen, Take-Two Interactive, MGM Resorts, Roblox, AMC Entertainment, Skillz, Lyft, AstraZeneca, Wynn Resorts, Li Auto, Groupon, News Corporation, Archer Aviation, and Soho House.
Key events
On November 6, OpenAI’s event –OpenAI DevDay — is to be held in San Francisco. The event is expected to offer a preview of new tools and ideas.
On November 8, Moderna Inc. to host a virtual Digital and AI Investor Event. The event will include presentations from management discussing Moderna’s digital strategy and the role of AI in accelerating its innovation, scale and value creation.
On Friday, the US stocks closed higher. The S&P 500 climbed 40.56 points, or 0.9%, to 4,358.34. The Dow Jones Industrial Average gained 222.24, or 0.7%, to 34,061.32. The Nasdaq Composite jumped 184.09, or 1.4%, to 13,478.28.
The yield on the 10-year treasury eased to 4.52% from 4.67%.
On Friday, the US dollar fell to 149.32 Japanese yen from 150.43. The euro rose to $1.0737 from $1.0626.
The US crude oil benchmark for December delivery fell $1.95 to $80.51 per barrel on Friday. Brent crude for January delivery fell $1.96 to $84.89 per barrel.
Natural gas for December delivery rose 5 cents to $3.52 per 1,000 cubic feet.
Gold for December delivery rose $5.70 to $1,999.20 per ounce. Silver for December delivery rose 44 cents to $23.29 per ounce.
In overseas stock markets, indices were mixed in Europe and higher across most of Asia.
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Updated: 05 Nov 2023, 10:36 PM IST
