Monday Market Must-Knows: November 6, 2023

Last week was exciting, with the S&P and NASDAQ both averaging 1% daily gains, partly thanks to Jerome Powell's comments. Apple's disappointing earnings led to a Friday sell-off, yet the NASDAQ soared, surprising many. 

 

The upcoming week sees 1,677 companies reporting earnings, including Vertex Pharmaceuticals, NXP Semiconductors, Diamondback Energy, Gilead Pharmaceuticals, Uber, and Disney, among others. The Reserve Bank of Australia will likely increase its interest rate from 4.1% to 4.35%, breaking a five-meeting hold. 

 

The UK will have a significant data-packed "UK day" on Friday at 2 AM EST, including GDP, construction output, trade balance, and more, impacting the British pound's valuation. The pound has been in a sideways to downward trend, with a recent surge leading to uncertainty. The economic data may provide clarity for forex traders. It's an eventful week in markets and central banking, with a focus on Australia and the UK.

 

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