AMD, Uber, Pfizer earnings on deck; ADP job data: What to Watch

00:00 Speaker A

Here’s a look at what to watch on Tuesday, November 4. Another busy day on the earnings calendar, we’ll hear from Pfizer, Uber, Spotify and BP ahead of the opening bell.

00:12 Speaker A

After the closure, the chips were put under the spotlight with AMD’s reports. Other names we’ll be watching include Pinterest, Rivian and Cava.

00:18 Speaker A

It’s now a late day on the economic calendar due to the government shutdown, but we’ll take a look at the labor market with ADP’s new weekly report.

00:24 Speaker A

Speaking of the shutdown, Tuesday will mark the 35th day of the current shutdown, breaking the record for the longest government shutdown in history.

00:30 Speaker A

Investors will know more about the state of Fed policy. Mickey Bowman, the Fed’s vice chairman for supervision, attends a banking conference in Spain.

00:37 Speaker A

This came after Chicago Fed President Austan Goolsbee told Jennifer Schonberger that he might not be in favor of the cut.

00:43 Austan Goolsbee

I’m upset about cuts to front-loading rates. I believe that interest rates will decrease, but in a way, interest rates should also decrease along with inflation.

00:54 Austan Goolsbee

I haven’t decided to go to the next meeting. I want to see how things go.

00:59 Austan Goolsbee

I think you’d expect that if public announcements of layoffs were a pressing issue arising from the business cycle, you’d start to see an increase in official unemployment insurance statistics.

01:09 Speaker A

So the December outage is not a foregone conclusion, to quote Jerome Powell. Also, Sam Bankman Fried returns to the court.

01:14 Speaker A

Oral arguments are scheduled in SBF’s appeal of a fraud conviction tied to FTX’s 2022 collapse.

01:21 Speaker A

He is currently serving 25 years behind bars. And finally, it’s election day in many cities and states across the United States.

01:27 Speaker A

One of the most important races Wall Street is watching is New York City Mayor. In the days leading up to the vote, polls show the race between Democratic Socialist Zoran Mandani and former New York Governor Andrew Cuomo narrowing.