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30.10.2019

Fed, Earnings & Jobs Data: Traders Have A Lot To Juggle This Week

Between the highly anticipated Federal Reserve meeting, a heavy batch of earnings reports, as well as key U.S. economic data, this week is a busy one on Wall Street.

The Fed is widely expected to deliver its third rate cut in as many meetings on Wednesday, but it will be the guidance of Fed Chair Jerome Powell on future rate cuts that could be the most important message for markets.

Some analysts expect the U.S. central bank to sound "hawkish" by signaling it is reluctant to cut rates further in the months ahead.

Meanwhile, earnings will continue to be the focal point for investors, with about 145 companies reporting earnings this week.

Google-parent Alphabet slipped 2% after missing analysts' estimates for quarterly profit even though revenue growth topped expectations when it reported results after Monday’s closing bell.

Next up will be Apple and Facebook, which are both set to deliver earnings on Wednesday afternoon.

The week also marks an important one on the economic calendar, with the big day coming on Friday, when the U.S. releases the October nonfarm payrolls report.

There is also key ISM manufacturing data, expected to show a contraction in manufacturing activity for a third month.

Source: Investing.com
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