Key Facts
• Over 130 companies to release earnings reports this week in the U.S. stock market.
• S&P 500 rose 2.3% in October, marking six consecutive months of gains.
• Q3 earnings for S&P 500 companies grew 13.8% year-over-year, per LSEG IBES.
• S&P 500’s forward P/E ratio exceeds 23x, highest since the dot-com bubble 25 years ago.
• November historically the best month for S&P 500, with an average 1.87% gain since 1950.
• Key tech firms reporting earnings include AMD, Qualcomm, and Palantir Technologies.
• Other major companies like McDonald’s and Uber also set to release earnings.
• U.S. government shutdown, starting October 1, was the second-longest in history.
• November 7 jobs report delayed; investors to rely on alternative data like ADP and Michigan sentiment index.
Summary
The U.S. stock market enters November, historically its strongest month, with over 130 companies set to release earnings reports. October saw the S&P 500 rise 2.3%, continuing a six-month streak of gains. Q3 earnings for S&P 500 firms grew 13.8% year-over-year, though the index’s forward P/E ratio has reached a 25-year high of over 23x. Key tech firms like AMD, Qualcomm, and Palantir, along with major players like McDonald’s and Uber, are among those reporting this week. The recent U.S. government shutdown, the second-longest in history, has delayed the November 7 jobs report, pushing investors to rely on alternative data sources. Analysts highlight the importance of earnings in sustaining market momentum amid high valuations.
