Focus in the US this week is on October employment data and the midterm elections

International

This week, the focus in the United States will be on October employment data. Projections point to the creation of 60,000 new jobs for the month—up from 29,000 in September—with the unemployment rate expected to remain at 4.2%. Additionally, the midterm elections will take place, which will determine the new composition of Congress.

Major U.S. stock indices closed the latest trading session with broad-based declines. The Nasdaq fell 2.9%, followed by the S&P 500 with a 1.8% drop, and the Dow Jones with a 1.1% decline. Nevertheless, these indices remain up for the year, with gains of 9.4%, 10.7%, and 7.7%, respectively.

Meanwhile, the U.S. Treasury yield curve showed mixed performance during Friday’s session. The 1-year Treasury yield rose from 4.36% to 4.37%, while the 3-year and 10-year yields edged down—from 4.67% to 4.66% and from 4.94% to 4.93%, respectively.

Regarding the third-quarter earnings season, 60% of S&P 500 companies have reported their financial results so far. Of these, 82% beat earnings estimates, and 70% surpassed revenue expectations. Today’s focus will be on the quarterly reports from Apple—one of the "Magnificent Seven"—and Palantir.

Source: PUENTE