What to Expect in the Week Ahead (October CPI, US Midterm Elections, AMC and Occidental Earnings)

Moomoo Breakfast US wrote a column · Nov 7, 2022 09:17

What to Expect in the Week Ahead (October CPI, US Midterm Elections, AMC and Occidental Earnings)

It's another busy week for investors: the U.S. Midterm Elections, the latest inflation data, and a continued parade of third-quarter results will be the highlights.

$Activision Blizzard (ATVI.US)$, $BioNTech (BNTX.US)$, and $The Mosaic (MOS.US)$ will report on Monday, followed by $Disney (DIS.US)$, $Occidental Petroleum (OXY.US)$, and $DuPont (DD.US)$ Tuesday. Wednesday will bring results from $Roblox (RBLX.US)$, $Rivian Automotive (RIVN.US)$, and $D.R. Horton (DHI.US)$, then $AstraZeneca (AZN.US)$, $WeWork (WE.US)$, and $Becton Dickinson & Co (BDX.US)$ report on Thursday.

Voting on Tuesday will determine control of Congress for the next two years, with Republicans favored to win the House of Representatives and polling suggesting a close race in the Senate. Results may take days to become clear in several states.

The economic-data highlight of the week will be Thursday's release of the October Consumer Price Index from the Bureau of Labor Statistics. The consensus estimate is for a 0.6% rise in the month, to stretch the headline index's annual gain to 7.9%. The core CPI, which excludes food and energy components, is seen rising 0.5% in October and 6.5% from a year earlier.

Monday 11/7

$Activision Blizzard (ATVI.US)$, $BioNTech (BNTX.US)$, $Diamondback Energy (FANG.US)$, $SolarEdge Technologies (SEDG.US)$, and $Take-Two Interactive Software (TTWO.US)$ release earnings.

Tuesday 11/8

It's Election Day. The midterms will determine which party controls Congress for the next two years. Polling suggests that Republicans will retake the House of Representatives, while the Senate looks like a toss-up.

$Constellation Energy (CEG.US)$, $DuPont (DD.US)$, $GlobalFoundries (GFS.US)$, $Occidental Petroleum (OXY.US)$, and $Disney (DIS.US)$ report quarterly results.

The National Federation of Independent Business releases its Small Business Optimism Index for October. Consensus estimate is for a 92 reading, roughly even with September's. The index has had readings below its 48-year average of 98 for nine consecutive months, as inflation and labor shortages continue to challenge small-business owners.

Wednesday 11/9

$D.R. Horton (DHI.US)$, $Rivian Automotive (RIVN.US)$, $Roblox (RBLX.US)$, and $The Trade Desk (TTD.US)$ announce earnings.

Thursday 11/10

$AstraZeneca (AZN.US)$, $Becton Dickinson & Co (BDX.US)$, $Ralph Lauren (RL.US)$, and $NIO Inc (NIO.US)$
hold conference calls to discuss quarterly results.

The Bureau of Labor Statistics releases the consumer price index for October. Economists forecast that the CPI will show an increase of 7.9%, year over year, following an 8.2% jump in September. The core CPI, which excludes volatile food and energy prices, is expected to be up 6.5%, a tenth of a percentage point less than previously. While the CPI is down nearly a full percentage from its recent June peak, the core CPI hit a four-decade high in September.

Friday 11/11

The bond market is closed in observance of Veterans Day. The Nasdaq and New York Stock Exchange keep regular trading hours.

The University of Michigan releases its Consumer Sentiment Index for November. The consensus call is for a 59.5 reading.

Sectors Performance