What To Expect in Markets This Week: AMD, Palantir, Pharmaceutical and Tech Earnings; Private-Sector Employment Report

Introduction to This Week’s Financial News

This week’s earnings calendar is expected to be dominated by tech firms, with pharmaceutical companies and gig economy providers also taking center stage. The demand for artificial intelligence will be a key focus for market watchers, particularly when chipmakers Advanced Micro Devices, Qualcomm, and Arm Holdings, as well as software provider Palantir, report their earnings.

Tech Earnings in Focus

Advanced Micro Devices will report on Tuesday, and investors will be eager to hear about recent deals, such as the one signed in October to supply AI chips to Oracle. Other chipmakers on the corporate earnings calendar this week include Qualcomm, which recently unveiled two new AI chips for data centers, and chip designer Arm Holdings. In other tech-related reports, Palantir’s earnings on Monday come as the software maker’s shares have more than doubled this year due to strong demand for its AI platforms. Cloud network provider Arista Networks is also on the calendar on Tuesday.

Pharmaceutical Earnings Under Scrutiny

Novo Nordisk reports on Wednesday, and the maker of Ozempic faces pressure from President Donald Trump over the costs of the weight loss treatment. Other noteworthy pharmaceutical firms to report this week include Amgen, Pfizer, and AstraZeneca, which have made deals to lower drug prices in response to Trump’s threat of hefty pharmaceutical tariffs. Several key firms in the so-called “gig economy” are also expected to report this week, including ride-sharing app Uber, food delivery service DoorDash, and property-rental app Airbnb.

Economic Calendar Highlights

The government shutdown is expected to delay the release of the U.S. employment report for October, which was originally scheduled for Friday. This would be the second straight monthly jobs report delayed due to the shutdown, which is entering its second month. Data on factory orders, the U.S. trade balance, and job openings are also likely to be delayed due to the shutdown. However, market watchers won’t be totally in the dark when it comes to jobs in the U.S., as the private-sector ADP employment report remains scheduled for release on Wednesday.

Private-Sector Jobs Data and Consumer Credit

The closely followed ISM surveys on the manufacturing and services sectors are also scheduled this week, giving investors some indications on employment and pricing in those sectors. The Fed’s report on consumer credit and the University of Michigan’s consumer sentiment survey are also expected this week. Remarks from Philadelphia Fed President Anna Paulson, St. Louis Fed President Alberto Musalem, and New York Fed President John Williams will also be of note after the central bank last week cut interest rates for the second time this year.

This Week’s Calendar

Here is a breakdown of the key events and earnings reports scheduled for this week:

• Monday, Nov. 3: ISM manufacturing PMI, Palantir earnings
• Tuesday, Nov. 4: Advanced Micro Devices earnings, Uber Technologies earnings, Arista Networks earnings
• Wednesday, Nov. 5: ADP employment report, Novo Nordisk earnings, Qualcomm earnings
• Thursday, Nov. 6: Federal Reserve officials speaking, AstraZeneca earnings, Airbnb earnings
• Friday, Nov. 7: Consumer sentiment, consumer credit

One More Thing

The Federal Reserve’s recent interest rate cut may lead to reductions in the rates that banks and credit unions pay on high-yield savings account deposits. Savvy savers can lock in better rates for months or years to come by exploring alternative savings options and taking advantage of competitive offers from banks and credit unions.

Conclusion

This week’s financial news is expected to be dominated by tech earnings, pharmaceutical reports, and economic data. The government shutdown may delay some key reports, but market watchers will still have plenty of information to digest. As the Federal Reserve continues to navigate the economy, savers and investors will need to stay informed to make the most of their money. By keeping an eye on the key events and earnings reports scheduled for this week, individuals can stay ahead of the curve and make informed decisions about their financial future.