5 Key Developments to Monitor Next Week

Here are 5 key developments to monitor next week. This week, the FED (US Federal Reserve) meeting is among the prominent developments.

Earnings Reports

Among the names to report for Q3 this week Travel companies: RyanAir (LON:RYA) (Monday), Air Canada (TSX:AC) (Tuesday), Booking Holdings (NASDAQ:BKNG) (Wednesday), Expedia (NASDAQ:EXPE) (Thursday), and Amadeus IT (MC: AMA) (Friday). Commodity manufacturers or associated names: ConocoPhillips (NYSE:COP) (Tuesday), Diamondback Energy (NASDAQ:FANG) (Monday), Williams Companies Inc (NYSE:WMB) (Monday), Mosaic Co (NYSE:MOS) (Monday), CF Industries (NYSE:CF) (Wednesday), EOG Resources (NYSE:EOG) (Thursday), Dominion Energy Inc (NYSE:D) (Friday), and Enbridge (NYSE:ENB) (Friday). Technology companies (from e-commerce to semiconductors to software): NXP Semiconductor (NASDAQ:NXPI) (Monday), Arista Networks (NYSE:ANET) (Monday), Activision Blizzard (NASDAQ:ATVI) (Tuesday), Electronic Arts (NASDAQ) :EA) (Wednesday), Etsy (NASDAQ:ETSY) (Wednesday), Datadog Inc (NASDAQ:DDOG) (Thursday), Skyworks (NASDAQ:SWKS) (Thursday), Carvana Co (NYSE:CVNA) (Thursday) and Wayfair (NYSE:W) (Thursday). Industries and pharmaceutical companies: Pfizer (NYSE:PFE) (Tuesday), T-Mobile US Inc (NASDAQ:TMUS) (Tuesday), Eaton (NYSE:ETN) (Tuesday), Cummins (NYSE:CMI) (Tuesday), Emerson (NYSE:EMR) (Wednesday), Humana (NYSE:HUM) (Wednesday), CVS Health (NYSE:CVS) (Wednesday), Toyota Motor Corporation ADR (NYSE:TM) (Thursday), and Honda Motor Co Ltd ADR (NYSE) :HMC) (Friday).

US Non-Farm Employment

After October's disappointing jobs report and weak GDP, November's nonfarm payrolls report will test the strength of the US economy. 385,000 new jobs are expected after missing non-farm employment expectations for the past two months.

FED Meeting

The Fed Open Market Operations Committee (FOMC) will present its report on Wednesday after its two-day meeting. Fed Chairman Jerome Powell said the idea to start reducing asset purchases in November is still valid. So the real question is whether this will work. The Bank of Canada came as a shock last week by announcing that it would halt quantitative easing. It is still unclear when central banks will move away from the extraordinary measures brought by the pandemic and how the economy and markets will react. On Thursday, the Bank of England (BoE) will share its monetary policy decision for November. The general expectation in the market is that there will be an interest rate increase of 15 bps. It will be looked at how the markets evaluate the return in monetary policy, no matter how 'priced' it is through expectations.

Manufacturing PMI reports

As we enter the holiday season towards the end of the year, the problems in supply chains and the slowdown in growth figures will remain in mind. China's PMI report showed a disappointing 49.2 decrease in activity. This week, the US, UK, Germany and other Eurozone countries will also release PMI figures. Expansion is expected across the continent.

New Bitcoin ETF

Bitcoin two weeks ago and ETH/USD last week made the cryptocurrency hit all-time highs. On the other hand, smaller coins like the Shiba Inu continue to make headlines. There are two important topics to follow in terms of crypto this week. The first will be the launch of the third bitcoin ETF, the VanEck Bitcoin Strategy ETF (NYSE:XBTF), which is expected to be listed on Wednesday. The excitement about the first bitcoin ETF, the ProShares Bitcoin Strategy ETF (NYSE:BITO), may have pushed bitcoin to all-time highs, but the reaction to the latter with the Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF) has been weaker.     Source: Investing.com