Wall Street week ahead: Investors eye Fed survey on banking conditions, US trade deficit data

In the coming weeks on Wall Street, investors’ focus will be on the release of the Federal Reserve’s survey of banking conditions and US trade deficit data.

The Senior Lending Officer Opinion Survey (SLOOS) is due for release on 6 November and the trade deficit data is due on 7 November. Data on initial jobless claims are due to be released on 9 November.


The following companies are scheduled to announce their quarterly results – NXP Semiconductors, Goodyear Tire & Rubber, Diamondback Energy, Gilead Sciences, Uber Technologies, UBS Group, Globalfoundries, Rivian Automotive, eBay, Coupang, Warner Bros. Discovery, Ralph Lauren, Disney, Biogen , Take-Two Interactive, MGM Resorts, Roblox, AMC Entertainment, Skillz, Lyft, AstraZeneca, Wynn Resorts, Li Auto, Groupon, News Corporation, Archer Aviation, and Soho House.

Main events

On November 6, the OpenAI event — OpenAI DevDay — will be held in San Francisco. The event is expected to offer a preview of new tools and ideas.

On November 8, Moderna Inc. to host a virtual AI and Digital Investor Event. The event will include a presentation from management discussing Moderna’s digital strategy and the role of AI in accelerating its innovation, scale and value creation.

On Friday, US stocks closed higher. The S&P 500 climbed 40.56 points, or 0.9%, to 4,358.34. The Dow Jones Industrial Average gained 222.24, or 0.7%, to 34,061.32. The Nasdaq Composite jumped 184.09, or 1.4%, to 13,478.28.

The yield on the 10-year treasury decreased to 4.52% from 4.67%.

On Friday, the US dollar fell to 149.32 Japanese yen from 150.43. The euro rose to $1.0737 from $1.0626.

Benchmark US crude for December delivery fell $1.95 to $80.51 a barrel on Friday. Brent crude for January delivery fell $1.96 to $84.89 a barrel.

Natural gas for December delivery rose 5 cents to $3.52 per 1,000 cubic feet.

Gold for December delivery rose $5.70 to $1,999.20 an ounce. Silver for December delivery rose 44 cents to $23.29 an ounce.

In overseas stock markets, indices were mixed in Europe and higher across most of Asia.

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Updated: 05 November 2023, 10:36 PM IST

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