AMD, Palantir, Pharma and Technology Earnings; Private sector employment report

Technology companies are likely to hog the spotlight during this week’s earnings calendar, although the focus is also likely to be on pharmaceuticals and gig economy providers.

Demand for artificial intelligence will be top of mind for market watchers when chipmakers Advanced Micro Devices, Qualcomm and Arm Holdings, as well as software provider Palantir, report earnings this week. The pharmaceutical companies’ results come amid pressure from the Trump administration to lower prices.

Market watchers are likely to scrutinize October’s private sector payrolls data in the absence of the originally scheduled US employment report, which will likely be delayed again as the government shutdown enters its second month.

Read down to the bottom for our calendar of key events – and something else.

Focus on technology and pharmaceutical earnings reports

Advanced Micro Devices will report on Tuesday, and investors will likely want to hear more about recent deals like the one signed in October to supply artificial intelligence chips to Oracle. Other chipmakers are on the corporate earnings calendar this week, including Qualcomm, which last week unveiled two new AI chips for data centers. Chip designer Arm Holdings is also scheduled to report this week.

In other technology-related reports, Palantir’s earnings on Monday come as the software maker’s shares have more than doubled this year on strong demand for its artificial intelligence platforms. Cloud provider Arista Networks is also on the calendar Tuesday.

Novo Nordisk reports Wednesday, the maker of Ozempic is facing pressure from President Donald Trump over the costs of the weight-loss treatment, which he said should come to about $150 a month instead of the more than $1,000 it costs now. Other noteworthy pharmaceutical companies reporting this week include Amgen, Pfizer and AstraZeneca, and it comes as the companies strike deals to lower drug prices in response to Trump’s threat to impose steep tariffs on drugs.

Several major companies 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.

Private sector jobs data, consumer credit, and Fed speakers highlight a limited economic calendar

While the Fed has raised concerns about the health of the labor market, the government shutdown is once again expected to keep officials guessing about employment levels in the U.S. Originally scheduled for Friday, the Bureau of Labor Statistics’ monthly employment report for October is expected to be delayed due to the work stoppage.

This will be the second straight monthly jobs report delayed due to the lockdown, which is entering its second month. Data on factor orders, the US trade balance and employment opportunities are also likely to be delayed due to the shutdown.

Market watchers won’t be completely in the dark when it comes to US jobs, as the ADP private sector employment report is scheduled for release on Wednesday. Closely-watched ISM surveys on the manufacturing and services sectors are also scheduled to be released this week, giving investors some clues about employment and pricing in those sectors. The Federal Reserve’s consumer credit report and the University of Michigan Consumer Confidence Survey are also expected this week.

Statements by Philadelphia Fed President Anna Paulson, St. Louis Fed President Alberto Muslim and New York Fed President John Williams will be noteworthy after the central bank last week cut interest rates for the second time this year.

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This week’s calendar

Monday 3 November

• ISM Manufacturing PMI (October)
• Data delayed by lockdown: Construction spending (September)
• Other data to watch: US S&P Manufacturing PMI (October)
• Key Earnings: Palantir (PLTR), Vertex Pharmaceuticals (VRTX), Williams Companies (WMB), Simon Property Group (SPG)

Tuesday 4 November

• Data delayed due to the lockdown: Trade Balance (September), Factory Orders (September), Job Opportunities (September)
• Key Earnings: Advanced Micro Devices (AMD), Shopify (SHOP), Uber Technologies (UBER), Arista Networks (ANET), Amgen (AMGN), Eaton (ETN), Pfizer (PFE), Spotify (SPOT), Ferrari (RACE), BP (BP)

Wednesday 5 November

• ADP Recruitment (October)
• Other data to watch: Services PMI (October), S&P Services PMI (October)
• Key Earnings: Toyota Motor (TM), Novo Nordisk (NVO), McDonald’s (MCD), Applovin (APP), Qualcomm (QCOM), Arm Holdings (ARM), Robinhood (HOOD), DoorDash (DASH)

Thursday 6 November

• Fed officials speaking: Philadelphia Fed President Anna Paulson, St. Louis Fed President Alberto Muslim
• Data delayed by the shutdown: Initial jobless claims (week ending November 1). Labor Productivity (Q3)
• Tesla shareholders meeting
• Key Earnings: AstraZeneca (AZN), ConocoPhillips (COP), Airbnb (ABNB), Vistra (VST)

Friday 7 November

• Consumer Sentiment (November)
• Data delayed by the lockdown: US Employment Report (October)
• Other data to watch: Consumer Credit (September)
• Fed officials speak: New York Fed President John Williams
• Key Earnings: Constellation Energy (CEG), KKR (KKR), Enbridge (ENB), Duke Energy (DUK)

Another thing

The Federal Reserve again cut interest rates last week, which could lead to reductions in the interest rates banks and credit unions pay on high-yield savings account deposits. Investopedia Sabrina Karl offers tips on how smart savers can get better rates for months or years to come.