Here’s a look at what to watch on Tuesday, November 4. Another busy day on the results calendar; Before the opening bell rings, we’ll hear from Pfizer, Uber, Spotify and BP.
00:12 Speaker A
And after the shutdown, chips are in the spotlight with reports from AMD. Other names we’ll be keeping an eye on include Pinterest, Rivian and Cava.
00:18 Speaker A
It’s now a late day on the economic calendar, thanks to the government shutdown, but we’ll take a look at the labor market with ADP’s new weekly report.
00:24 Speaker A
And speaking of the shutdown, Tuesday will mark the 35th day of the current shutdown and that will tie the record for the longest government shutdown in history.
00:30 Speaker A
Investors will learn more about the state of Federal Reserve policy. Fed Vice President of Supervision Mickey Bowman participating in a banking conference in Spain.
00:37 Speaker A
This after Chicago Fed President Austan Goolsbee told our own Jennifer Schonberger that he might not be in favor of a cut.
00:43 Austan Goolsbee
I am concerned about the cuts in front loading rates. I think rates will go down, but to some extent they should go down with inflation.
00:54 Austan Goolsbee
I am not determined to go to the next meeting. I want to see how things are going.
00:59 Austan Goolsbee
I think if this is an immediate business cycle-driven issue, one would expect public layoff announcements to begin to see an uptick in official unemployment insurance statistics.
01:09 Speaker A
So a cut in December is not a foregone conclusion, as Jerome Powell quotes. Plus, Sam Bankman Fried returns to court.
01:14 Speaker A
Oral arguments are scheduled in SBF’s appeal of its fraud conviction linked to the 2022 collapse of FTX.
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 key races that Wall Street has been watching, that of the mayor of New York City. In the days before the vote, polls show the race is tightening between Democratic Socialist Zoran Mandani and former New York Governor Andrew Cuomo.