The global market is entering a week that could see significant volatility, with investors preparing for the U.S. mid-term elections, key economic data, central bank decisions, and financial reports from major tech companies.
Reports indicate that since the beginning of October, sell-offs led by tech stocks have caused the market value of major tech and semiconductor companies to evaporate by approximately $5 trillion. Therefore, these events this week are particularly noteworthy.
Key Events Worth Paying Attention To This Week
November 2: Manufacturing Data and Apple, Palantir Financial Reports
This week will begin with the U.S. manufacturing PMI for October on ISM. The market expects this index to rise from 54.5 in September to 54.8. A reading above 50 indicates manufacturing expansion, while weaker results could put pressure on the dollar.
Apple and Palantir Technologies will also release their financial reports after the close of U.S. stock trading. The market expects Apple's revenue for the fourth quarter of fiscal year 2026 to be around $113.4 billion, compared to $109.42 billion in the previous quarter.
The market expects that Palantir's revenue in the third quarter of 2026 to be approximately $2.18 billion, higher than the $1.94 billion in the previous quarter.
November 3: U.S. Midterm Elections and the JOLTS Report
Tuesday will see one of the most important political events of the week, as the U.S. mid-term elections are scheduled to take place on that day. All 435 seats in the House of Representatives and 35 seats in the Senate will be up for re-election.
The report indicates that the election results may affect President Donald Trump's economic agenda, government spending, and future financial regulation.
For the crypto industry, this outcome is also significant, as Congress will determine the direction of future digital asset laws and oversee regulatory agencies such as the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
On the same day, the United States will also release the September JOLTS job vacancy report. The market expects there to be around 7.11 million job vacancies, up from the previous figure of 7.079 million. If the data is higher, it may indicate that labor demand remains strong and could exacerbate market concerns about wage growth and inflation.
At the same time, AMD, Arista Networks, Astera Labs, Shopify, and Eaton will also release their financial reports.
November 4th: ADP Employment Data and European Inflation
There will be two important economic reports on Wednesday. The ADP National Employment Report is expected to show an addition of 65,000 new jobs in the private sector in the United States. If the data is lower than expected, it may indicate that hiring activities are slowing down.
Meanwhile, the inflation rate in the eurozone is expected to rise from 3.8% in September to 3.9% in October. The previous increase was already quite significant, with an inflation rate of 3.2% in August. If it rises again, it may increase the pressure on the European Central Bank to maintain high interest rates.
Qualcomm, Arm, AppLovin, Coherent, Uber, and Datadog also plan to release their financial reports on the same day.
November 5th: UK Central Bank Decision and U.S. Initial Jobless Claims Data
The Bank of England's interest rate decision will be the main event on Thursday. In September, the Bank of England maintained its benchmark interest rate at 3.75%, but three out of nine policy makers voted in favor of raising it by 0.25 percentage points to 4%.
The market currently expects that the Bank of England may raise interest rates to 4%, which would indicate that despite the pressure on economic growth, policymakers remain concerned about inflation.
On the same day, the United States will also release weekly initial unemployment claims data. In the previous week, this figure dropped to 194,000, and markets expect that the number of initial claims to continue to remain near decades-low levels.
Microchip Technology, Lumentum, Cloudflare, and Airbnb will also release their financial reports.
November 6: U.S. Non-Farm Payroll Report
The employment report for October, released on Friday, may be the most important economic data of the week.
The market expects that American employers will create about 60,000 new jobs in October, higher than the 29,000 in September; the unemployment rate is expected to remain unchanged at 4.2%.
This report will show whether the U.S. labor market is trending towards stability or continues to weaken.
Why is the global market under pressure?
Reports indicate that as the global market entered November, it was already under pressure due to concerns regarding the valuation of tech stocks, spending on artificial intelligence, and interest rates. The selling by hedge funds further increased this pressure, which also made this week's financial reports more scrutinized.
Last week, the S&P 500 index fell by 0.6% to 7,580.07 points; the Nasdaq index fell by 2% to 25,437 points. China's Shanghai Composite Index fell by 1.61% to 3,599 points; the CSI 300 index recorded a decline of 8.5% in October.
Meanwhile, Japan's Nikkei 225 index rose by about 0.95% week-on-week, reaching around 63,081 points.
The crypto market has also faced pressure. Bitcoin has fallen from around $85,000 at the beginning of October to $78,299.35, although it has seen a slight rebound today.
Author: Rizwan Ansari; Source: Coinpedia.
