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Wall Street opens a new week and a new month on Monday, November 2, with a read on American factories at 10 a.m. Eastern and one of the market’s biggest companies reporting after the close.
The first number is the Institute for Supply Management’s manufacturing index for October. ISM publishes it on the first business day of every month at 10 a.m. Eastern. It is a survey of purchasing managers, and traders watch it as an early signal of whether factory orders, hiring and prices are speeding up or slowing down.
After the closing bell, Apple reports results for its fiscal fourth quarter, with the company’s conference call set for 5 p.m. Eastern. Apple is among the largest companies in the major stock indexes, so its sales, outlook and spending plans can move more than one stock. Investors will be listening for what management says about demand and its outlook.
The bigger event comes later in the week. The Bureau of Labor Statistics will release the October jobs report on Friday, November 6, at 8:30 a.m. Eastern. Payroll growth, the unemployment rate and wages will shape expectations for where interest rates go next. The Federal Reserve met on October 27 and 28 and has no meeting this week. Its next one is December 8 and 9, so the data between now and then carries extra weight.
One more date to mark: ISM’s services index, which covers the larger part of the economy, is due Wednesday, November 4, at 10 a.m. Eastern, the third business day of the month.
For Monday morning, the schedule is the story. Investors will be watching the factory number at 10 and then positioning for Apple’s report that evening.
JBizNews Desk | New York
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