Jobs, Midterm Elections, Apple, Palantir, McDonald’s, Moderna, and More to Watch This Week

Equities fell again last week to close out October on a three-week losing streak. The Nasdaq Composite index slumped 2.0% on the week, while the S&P 500 index declined 0.6%. It was a tale of two halves, as both benchmarks were up more than 1.5% through Wednesday. But poorly-received earnings reports from technology heavyweights, including Alphabet, Amazon.com, Intel, and ServiceNow, led to a late-week swoon.

The volatility could continue this week with busy earnings and economic calendars. Moreover, there is the matter of the midterm elections on Tuesday, which could affect stocks in sectors such as crypto, energy, and healthcare.

Roughly 135 S&P 500 index companies will report earnings this week, starting with Apple and Palantir Technologies on Monday. Advanced Micro Devices, Amgen, and Pfizer will release their results on Tuesday, followed by McDonald’s and Qualcomm on Wednesday. Airbnb will announce earnings on Thursday, and Moderna on Friday.

The jobs report from the Bureau of Labor Statistics on Friday is the key economic release this week. Federal Reserve Chair Kevin Warsh described the labor market as stable this past week after the Federal Open Market Committee meeting.

The Institute for Supply Management will release its Manufacturing Purchasing Managers’ Index and its Services PMI on Monday and Wednesday, respectively.

Monday 11/2

Apple, Clorox, Diamondback Energy, Entergy, Estée Lauder, Fox, Idexx Laboratories, Loews, Marriott International, On Semiconductor, Realty Income, Palantir Technologies, Pershing Square, Public Service Enterprise Group, Roku, SBA Communications, Vertex Pharmaceuticals, and Williams Cos. announce earnings.

The Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for October. Consensus estimate is for a 54.5 reading, slightly higher than in September.

Tuesday 11/3

Advanced Micro Devices, Ametek, Amgen, American International Group, Apollo Global Management, Archer-Daniels-Midland, Arista Networks, Assurant, Ball Corp., Block, Booking Holdings, Broadridge Financial Solutions, DuPont, Eaton, Expeditors International of Washington, Ferrari, Fiserv, Gartner, Henry Schein, International Flavors & Fragrances, Jack Henry & Associates, Keurig Dr Pepper, Leidos Holdings, Marathon Petroleum, Mosaic, Pfizer, Pinnacle West Capital, Prudential Financial, Revvity, Shopify, Skyworks Solutions, Super Micro Computer, Sysco, Waters, Yum! Brands, and Zebra Technologies report quarterly results.

American voters head to the polls for the midterm elections with congressional power at stake. Republicans currently hold slim majorities in the House of Representatives and the Senate. Polling suggests that Democrats are substantially favored to retake control of the House, while control of the Senate is closer to a coin flip.

The Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey. Economists forecast 7.1 million job openings on the last business day of September, roughly even with the August data.

Wednesday 11/4

Aflac, Albemarle, Allstate, APA, AppLovin, Arm Holdings, Atmos Energy, CDW, Cencora, CF Industries, Charles River Laboratories International, Coherent, Corpay, CVS Health, Datadog, Edwards Lifesciences, Emerson Electric, Eversource Energy, Expedia Group, Fair Isaac, Fidelity National Information Services, Host Hotels & Resorts, Insulet, Kraft Heinz, Martin Marietta Materials, McDonald’s, McKesson, MercadoLibre, Metlife, Motorola Solutions, News Corp, Novo Nordisk, PTC, Qnity Electronics, Qualcomm, Stanley Black & Decker, Steris, Texas Pacific Land, TKO Group Holdings, Trimble, Uber Technologies, Vivmark Residential, W.W. Grainger, and Zimmer Biomet Holdings release earnings.

ADP releases its National Employment Report for October. The consensus call is for a 67,000 increase in private-sector employment, following a 90,000 jump in September.

The Institute for Supply Management releases its Services Purchasing Managers’ Index for October. Consensus estimate is for a 54.9 reading, matching the September figure.

Thursday 11/5

Airbnb, Air Products & Chemicals, Akamai Technologies, Ameren, Axon Enterprise, Camden Property Trust, Cardinal Health, Cigna Group, Cloudfare, ConocoPhillips, Consolidated Edison, Cummins, Devon Energy, DTE Energy, Duke Energy, EOG Resources, Evergy, Global Payments, Iron Mountain, Kimberly-Clark, Live Nation Entertainment, Lumentum Holdings, Mettler-Toledo International, Microchip Technology, Monster Beverage, Parker-Hannifin, Ralph Lauren, Regency Centers, Rockwell Automation, Sempra, Simon Property Group, Solventum, Sony Group, Southern Co., Tapestry, Targa Resources, Verisk Analytics, Viatris, Wynn Resorts, and Zoetis announce quarterly results.

Friday 11/6

Charter Communications, Franklin Templeton, Humana, Moderna, PPL, and Vista Energy report earnings.

The Bureau of Labor Statistics releases the jobs report for October. Economists forecast a 62,000 increase in nonfarm payrolls, after a 29,000 gain in September. The unemployment rate is expected to remain unchanged at 4.2%.

The University of Michigan releases its Consumer Sentiment survey for November. Expectations are for a 47.8 reading, slightly less than in October.

Write to Dan Lam at dan.lam@dowjones.com

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