📅 Monday 11/2
Macro: ISM Manufacturing (Beijing 23:00)
Earnings: Apple, Palantir, and Onsemi after the close
📅 Tuesday 11/3
Midterm Election Day; the earliest polling stations close at 18:00 ET (Beijing 11/4 07:00)
Macro: September JOLTS job openings (Beijing 23:00), RBA decision (Beijing 11:30)
Earnings: Shopify and Pfizer before the open; AMD, Arista, Super Micro Computer, and Booking after the close
📅 Wednesday 11/4
The first full trading day after the election results come in
Macro: ADP (Beijing 21:15), Treasury quarterly refunding (Beijing 21:30), ISM Services (Beijing 23:00)
Earnings: Uber, Datadog, and Novo Nordisk before the market opens; AppLovin, Qualcomm, and Arm after the market closes
📅 Thursday 11/5
Macro: Bank of England decision (8:00 p.m. Beijing time), initial jobless claims and Q3 productivity (9:30 p.m. Beijing time)
Earnings: Cloudflare, Airbnb, Atlassian, and Instacart after the market closes
📅 Friday 11/6
Macro: October nonfarm payrolls, unemployment rate, and hourly wages (9:30 p.m. Beijing time); University of Michigan consumer sentiment (11:00 p.m. Beijing time)
Earnings: Moderna and Vistra before the market opens
💡 Three key themes
1️⃣ Second wave of AI earnings: Last week, the market focused on cash flow; this week, it’s watching to see whether chips and applications can deliver
2️⃣ Election + bond issuance: The voting results and how much long-term debt the Treasury issues could both move the 10-year yield, already near 5%
3️⃣ Nonfarm payrolls will set the tone for December: September added just 29,000 jobs, and the unemployment rate was 4.2%. After the payrolls report, October CPI is due on 11/10
📌 For SPMO holders: At least 19% of the portfolio reports earnings next week, with Apple (9.7%) and AMD (5.6%) accounting for 15% alone.
Times are subject to official announcements.
