As the earnings season begins to wind down, with just 11 S&P 500 companies — including Walt Disney and Cisco — set to report their quarterly financial results in the week ahead, investors will be closely monitoring Washington for any sign of progress to end the government shutdown.
Any movement in the US government shutdown negotiations will be watched intently as concerns mount over potential travel disruptions during the Thanksgiving holiday period.
The shutdown reached its 40th day on Sunday, even as senators held a weekend sitting in the hope of finding an end to the impasse that has disrupted domestic flights, threatened food aid for millions of Americans, and left federal civil servants unpaid.
Republican leaders are hoping to force votes on bills that would reopen the government until January while simultaneously approving full-year funding for several state departments. Crucially, the necessary Democratic support for that effort is far from guaranteed.
Artificial Intelligence-linked shares will remain a focus following last week’s sharp pullback, which saw the Nasdaq Composite record its worst weekly performance since April.
Economic Calendar
On November 11 (Tuesday), a report on NFIB optimism index for October will be released.
Bond market will remain closed due Veterans Day holiday.
On November 12 (Wednesday), several Fed speakers are scheduled to deliver their speeches.
On November 13 (Thursday), separate reports on initial jobless claims for the week ended November 8 and Consumer Price Index (CPI) for October will be released.
On November 14 (Friday), separate reports on US retail sales and Producer Price Index (PPI) for October will be released.
Earnings
Following companies are due to report third quarter results in the week ahead — CoreWeave, Occidental, eToro, Plug Power, Oklo, Nexgel, Cisco, Flutter Entertainment, Rumble, Walt Disney, Applied Materials, Newsmax, Quantum, AmpliTech, and Data Storage.
Markets Last Week
Stock indices closed mixed on Wall Street on Friday but still clocked their first weekly loss in the last four.
On Friday, the S&P 500 rose 8.48 points, or 0.1%, to 6,728.80. The Dow Jones Industrial Average rose 74.80 points, or 0.2%, to 46,987.10. The Nasdaq Composite fell 49.46 points, 0.2%, to 23,004.54.
For the week, the S&P 500 is down 111.40 points, or 1.6%. The Dow is down 575.77 points, or 1.2%. The Nasdaq is down 720.42 points, or 3%.
Gold prices gained on Friday as the US dollar softened and uncertainty around the US government shutdown added to safe-haven demand.
Spot gold rose 0.7% at $4,005.21 per ounce. US gold futures for December delivery added 0.5% to settle at $4,009.80 per ounce.
