Weekly U.S. Equity Macro Outlook Key Points (Nov 2 – Nov 6)

November 2 (Monday)

1. 22:45: U.S. October S&P Global Manufacturing PMI final released; 23:00: U.S. October ISM Manufacturing PMI released.
2. ★★★★★ Apple and Palantir report earnings post-market; focus on memory price impact on gross margin and holiday season guidance.
3. ★★ Tower Semiconductor and Tempus AI report pre-market; ON Semiconductor reports post-market.

November 3 (Tuesday)

1. U.S. midterm elections held, with all House seats and part of the Senate up for election; congressional control will affect subsequent policy space.
2. 23:00: U.S. September JOLTS job openings and September factory orders MoM released; 00:15: Chicago Fed President Goolsbee speaks.
3. ★★★★ AMD, Super Micro Computer, and Arista Networks report post-market.
4. ★★ Shopify, Eaton, and Marathon Petroleum report pre-market.

November 4 (Wednesday)

1. 21:15: U.S. October ADP employment (expected 75,000) released; 23:00: U.S. October ISM Non-Manufacturing PMI released.
2. ★★★★ Qualcomm, Arm Holdings, Coherent, and AppLovin report post-market.
3. ★★ McDonald’s, Uber, and Circle report pre-market.

November 5 (Thursday)

1. 21:50: Cleveland Fed President Hammack speaks; 22:10: Richmond Fed President Barkin speaks.
2. ★★★ Lumentum, IREN, Cloudflare, and Airbnb report post-market.
3. ★★ ConocoPhillips and Unity Software report pre-market.

November 6 (Friday)

1. ★★★★★ 21:30: U.S. October nonfarm payrolls (expected 65,000, prior 29,000), unemployment rate (expected 4.20%), and average hourly earnings released.
2. 23:00: U.S. November University of Michigan Consumer Sentiment Index preliminary released.
3. Dallas Fed President Logan, New York Fed President Williams, and St. Louis Fed President Musalem speak.
4. ★★ Moderna and Vistra Energy report pre-market.

This week’s core U.S. equity themes center on the U.S. midterm elections, nonfarm payrolls data and dense Fed officials’ speeches, plus intensive earnings verification from Apple, AMD, Qualcomm and other tech and semiconductor names, with elevated market volatility expected.