Early Look

Monday, November 2, 2026

After sharp declines last week, U.S. stock futures are looking higher on Monday as traders prepare for a busy week filled with corporate earnings, monthly employment data, and the U.S. midterm elections, while we get earnings after the close from Apple (AAPL). The new week starts with oil prices tumbling off their highest levels in 5 months, and U.S. midterm elections to be held Tuesday where results could impact various sectors and individual stocks depending on the new makeup of Congress. In the prediction markets, the Kalshi contract for Democrats recapturing the House sits at 94%, the more closely watched Senate race sitting at 73% for Democrats, up 1% on the day. On the economic front, investors will monitor the PMI Manufacturing Final and ISM Manufacturing Index reports for fresh signals on manufacturing activity. In Asian markets, The Nikkei Index declined -208 points to 63,081, the Shanghai Index rose 39 points to 3,638, and the Hang Seng Index gained 98 points to 23,393. In Europe, the German DAX is up 93 points to 25,912, while the FTSE 100 gains 14 points to 1,743. Oil prices declined ahead of Tuesday’s U.S. midterm elections as investors weighed renewed attacks on commercial vessels near the Strait of Hormuz against prospects for a diplomatic resolution to the conflict with Iran.

After a stock market selling bloodbath on Friday, with the Nasdaq falling -2.86%, its biggest one-day percentage loss since June 5th (and posted its biggest monthly % decline since March 2025 falling -5.3%), investors turn toward November, awaiting mid-term election results tomorrow, monthly jobs data, and another busy week of corporate earnings, highlighted by Apple (AAPL) results after the close tonight. Note the S&P 500, Nasdaq fell for a third straight week on Friday, its longest weekly run of declines since March, as the S&P 500 fell -0.58%, the Nasdaq declined -2%, and the Dow fell -0.85%. October was dreadful for tech stocks (XLK, SOX, QQQ) but was a great month for most of the other S&P 500 names, with 9 of 11 sectors posting monthly gains and 4 of those 9 racking up for double digit % gains. The iShares Semiconductor ETF (SOXX) fell 17% in October, ending the month below its 200-day moving average as a broad selloff in semiconductor stocks weighed on the fund. Energy (XLE) was up 13% in October due to surging oil/energy prices, while defensive Healthcare (XLV), Utilities (XLU) and Consumer Staples (XLP) are posted monthly gains of around 10%.

• The Dow Jones Industrial Average fell -572.25 points, or 1.09%, to 51,770.31
• The Nasdaq Composite tanked -747.73 points, or 2.86%, to 25,437.00
• The Russell 2000 Index declined -47.37 points, or 1.66% to 2,811.84

• 10:00 AM ET                 Construction Spending for September
• 10:00 AM ET ISM Manufacturing PMI for October

• Earnings After the Close: AAPL ADTN AEHR AEIS ALG ALSN APPS BCC BLZE BMRN BRCC BSM BVS BWXT CALX CBT CC CE CERS CLX CRBG CRC CRGY CSR CSWC CWH DHC DOC EBS EQH ESRT EVER FANG FN GAIA HLF HLIT HNGE HSTM HUN ICHR IIPR INSP IRT JAZZ LSCC MSA MTCH NBIX NMFC O OGS ON OPAD OTTR PAY PLOW PLTR PS RHP RIG ROKU RXRX SBAC SBRA SIBN SITC SNDX TBBB TNC TTI TVTX UDR UPWK UTL VAL VNO VNOM VOYA VRTX VTS VVX WAY WMB

• The RatingDog China Manufacturing PMI edged down slightly to 52.0 in October 2026 from September’s five-month high of 52.1, but beat market expectations of 51.6, marking the eleventh consecutive month of expansion.
• China’s official NBS Manufacturing PMI fell to 49.3 in October from 50.1 in September, missing forecasts of 50.0 and reaching its lowest level since July.
• China’s official NBS Non-Manufacturing PMI dropped to 49.7 in October from 50.2 in September (below the 50.5 consensus), marking the sixth services contraction this year.
• S&P Global Japan Manufacturing PMI was confirmed at 53.3 in October 2026, matching preliminary estimates but stepping down from September’s 54.1 reading.
• South Korean manufacturing sector experienced a notable slowdown in October, with the S&P Global PMI dropping from 53.9 to 51.3.
• Reuters reported Iran/Qatari mediators hold 3rd day of talks to end US-Iran war; purpose of ongoing/progressing talks was to continue consultations with the Qatari mediators; Tehran is prepared for both defense and diplomacy.
• The Reserve Bank of Australia announces its policy decision on November 3. Consensus looks for a fourth 25bps cash rate hike for the year, to 4.85%, putting rates at a high since 2008.

• Floor & Decor (FND) was downgraded to Sell from Neutral at Goldman Sachs and cut tgt to $38 from $53 citing the company's decelerating quarter-to-date comps, macro-driven sales headwinds, and Q4 gross margin pressures from escalating supply chain costs for the downgrade.
• Li Auto (LI) delivered 29,025 vehicles in October 2026, representing a 43.6% Y/Y decline from 51,443 units in October 2025 and an 8.8% M/M drop from 31,817 units in September 2026.
• NIO (NIO) delivered 34,246 electric vehicles in October 2026, representing an 8.4% M/M decline from September's 37,408 units and fell 15.2% Y/Y, while bringing its cumulative deliveries to 1,332,139 as of October 31. Deliveries consisted of 18,125 vehicles from the core NIO brand, 8,383 vehicles from the ONVO sub-brand, and 7,738 vehicles from the FIREFLY brand.
• Tesla (TSLA) registrations jump 248% in Sweden, 131% in Norway and 34% in Denmark; recovery benefited from easy comparisons, pricier fuel, subsidies and rising EV demand; Tesla was Norway's top-selling brand in October with 9.8% market share. Denmark showed stiffer pressure, with Tesla trailing BYD, Leapmotor, Xpeng and MG.
• XPeng (XPEV) achieved a new monthly record with total deliveries of 50,237 electric vehicles in October 2026, representing a 22% M/M increase from September and a 20% Y/Y increase. Monthly performance was further bolstered by overseas deliveries, which reached an all-time monthly high of 13,326 units, up 166% Y/Y.

• Loar Holdings Inc. (LOAR) will replace LiveRamp Holdings Inc. (RAMP) in the S&P SmallCap 600. Publicis Groupe SA (PUB) is acquiring LiveRamp Holdings in a deal expected to close soon, pending final closing conditions.
• SpaceX (SPCX) is reportedly in talks with EchoStar (ECHO) over a potential acquisition of Boost Mobile or a deal to use its wireless network, as Elon Musk looks to launch a full-fledged U.S. cellphone service. Musk previously approached Verizon (VZ), AT&T (T) and T-Mobile (TMUS) seeking access to their networks, but all three rejected the proposal.
• Tutor Perini Corporation (TPC) announced today that its subsidiary, Perini Management Services, Inc., has been awarded a design-build contract valued at approximately $19 million by the U.S. Army Corps of Engineers, Huntsville Center.
• V2X (VVX) received a $104.6M modification to an existing U.S. Army contract to operate, maintain and defend Army communications systems supporting military installations and infrastructure across parts of the Middle East.

• Coinbase (COIN) downgraded to Underweight from Equal Weight at Morgan Stanley and slashed its tgt to $120 from $258 saying confidence in Coinbase's earnings recovery has deteriorated as recent trading trends, a softer forward revenue outlook and uncertainty around the backdrop for crypto following the Binance hack suggest a weaker recovery than previously expected.

• Glaukos Corp. (GKOS) will replace Okta in the S&P MidCap 400, and McGrath RentCorp (MGRC) will replace Glaukos in the S&P SmallCap 600.
• Inovio Pharmaceuticals' (INO) shares surge after the FDA approved its treatment INO-3107 (branded Voceryq) for a rare respiratory condition, marking the company's first approved product. Inovio said it expects Voceryq to be available for order and shipment within about 60 days, with a full commercial launch planned for the first quarter of 2027.
• Johnson & Johnson (JNJ) announced three clinical analyses showing lower mortality with Impella-supported high-risk coronary procedures than reported in CHIP-BCIS3. The real-world and observational analyses covered 1,379 U.S. and European patients; results will be presented at TCT Nov. 1-3, 2026. PROTECT IV randomized controlled trial is expected to report results in 2027.

• Check Point (CHKP) Q3 EPS $2.49 was in line with consensus $2.49 and revs $669.8M vs. consensus $672.14M; said Q3 security subscriptions revenue grew 11 percent year over year, supported by strong demand.
• CrowdStrike (CRWD) was upgraded to Buy from Hold at Deutsche Bank and raised tgt to $300 from $240 saying the market has still not appreciated the extent to which AI will expand the market for cybersecurity.
• Meta Platforms (META) has built a prototype humanoid with Chinese Robotics company Fourier and is already working on a second version, as the Social Media giant steps up efforts to develop robots for people’s homes, The Information reported according to people familiar with the initiative. Meta and Fourier built the roughly 106-pound humanoid in just three months.
• Okta Inc. (OKTA) will replace Kenvue Inc. (KVUE) in the S&P 500 effective prior to the opening of trading on Wednesday, November 4; Kimberly-Clark (KMB) is acquiring Kenvue in a deal expected to be completed soon, pending final closing conditions.

Mid-Morning Look

Monday, November 02, 2026

U.S. stock markets kicking off the new month in solid fashion, rebounding after the sharp selloff in technology shares last week/month, helped by a notable decline in oil prices ahead of Apple (AAPL) earnings results tonight, midterm elections tomorrow and key jobs data later this week. More than 1% gains early for the Nasdaq, Dow, S&P 500 and Russell 2000 in broad rally with Energy (XLE) the main laggard due to falling oil prices on renewed Iran-related diplomacy, supporting a risk-on opening, but more than 2% gains early for Consumer Discretionary (XLY), Materials (XLB) on metals strength and Industrials (XLI) as power plays bounce. Oil prices tumbled as Qatari-mediated U.S.-Iran talks progress. Overall it looks like investors are glad to put October behind them following the Nasdaq’s 5% monthly fall after reports from Amazon, Alphabet, and Intel hurt tech stocks badly last week.  

• ISM U.S. manufacturing activity index 55.5 in October (consensus 54.5) vs 54.5 in September; prices paid index 75.2 in October vs 77.9 (consensus 77.5) in September; new orders index 55.5 in October vs 55.3 in September and employment index 52.4 in October (consensus 52.0) vs 52.7 in September
• September construction spending -1.9% (consensus +0.3%); US Sept construction spending -1.9% (consensus +0.3%) to $2.186 trln, vs Aug +2.0% (prev +0.9%); US Sept private construction spending -2.4%, public spending -0.1%.

• Lodging sector: CHH beat top and bottom line estimates for Q3 while lowers full-year 2026 net Income outlook to $178M-$185M from $230M-$241M; raises full-year 2026 global RevPAR growth forecast to 1.5%-2.5% from 0%-1% and raises full-year 2026 adjusted EBITDA outlook to $641M-$651M from $635M-$650; MAR raised its full-year room revenue growth forecast as expects 2026 revenue per available room (RevPAR) to grow between 4.5% and 5%, compared with its prior forecast of a 3% to 3.5% increase. HGV was downgraded to Market Perform at Citizens after the company reported Q326 results that show continued weakness in its core business, while they lowered their full-year adjusted EBITDA guidance by $72.5mm at the midpoint.
• Solar sector: shares of FSLR, ENPH, SEDG, RUN, ARRY, and other solar related names rallied ahead of midterm elections where sector friendly Democrats are expected to take the House; Senate still up in air. Clean energy sector potentially as Reuters notes a strong Democratic showing could reinforce expectations that federal support for clean-energy development will remain in place. The Democratic-controlled Congress passed the Inflation Reduction Act in 2022, devoting hundreds of billions to climate and energy-security measures.
• Chinese Ev sector: monthly delivery data out as LI delivered 29,025 vehicles in October 2026, representing a 43.6% Y/Y decline from 51,443 units in October 2025 and an 8.8% M/M drop from 31,817 units in September 2026; NIO delivered 34,246 electric vehicles in October 2026, representing an 8.4% M/M decline from September's 37,408 units and fell 15.2% Y/Y, while bringing its cumulative deliveries to 1,332,139 as of October 31. XPEV achieved a new monthly record with total deliveries of 50,237 electric vehicles in October 2026, representing a 22% M/M increase from September and a 20% Y/Y increase. Monthly performance was further bolstered by overseas deliveries, which reached an all-time monthly high of 13,326 units, up 166% Y/Y.

• EVGO +49%; shares jumped after SEC filing shows the company to be acquired by private co LS Power Equity Advisors for $2 per share.
• IDXX +16%; shares rose after Q3 top and bottom line beat, mgmt raising FY organic growth to 9.3%-10.0% vs prior guidance 8.5%-9.7%. Q3 EPS $4.01 vs $3.73 est. Q3 revs $1.21B vs $1.19B est. FY EPS guide $14.96-15.16 vs prior guidance $14.69-14.94.
• INO +194%; after the FDA approved its treatment INO-3107, branded Voceryq, for a rare respiratory condition, marking the company's first approved product; was also upgraded to Buy from Neutral with a $5.00 PT at H.C. Wainwright
• RIVN +7%; was upgraded to Buy from Neutral at UBS with $17 tgt as sees the recent selloff (-19% over the past month vs S&P500 -1%) as a buying opportunity ahead of an inflection in R2 ramp and gross margins.
• TEM +8%; Q3 revs and adjusted EBITDA slightly above expectations, reaffirms FY adjusted EBITDA guide. Q3 revenue $411.5M vs $409M est. Q3 adj EBITDA $25.6M vs $18.6M est. FY26 rev guide $1.60-1.605B vs prior guidance $1.595-1.605B. Reaffirms adjusted EBITDA.
• WING +9%; topping its 200dma resistance of $162.85; extending gains post earnings recently.

• AXSM -10%; following earnings results this morning.
• CHKP -6%; after Q3 revs fell -1.1% y/y to $669.8M vs. est. $672M, while security subscriptions revenue rose 11% to $339M. Remaining performance obligations increased 5% to $2.5B; cuts FY26 revenue view to $2.73B-$2.78B from $2.77B-$2.85B, vs consensus $2.8B.
• FND -2%; was downgraded to Sell at Goldman Sachs and cuts PT to $38, as persistent housing pressure, slowing comps, and higher supply-chain costs limit the near-term earnings outlook.
• LITE -9%; MRVL agreed to acquire LITE for implied enterprise value of $115B. LITE holders will receive a fixed exchange ratio of 4.500 shares of Marvell common stock for each share of Lumentum common stock they own.
• ORCL -5%; after the company announced it would sell $10 bln in stock and offer $10 bln of bonds and use net proceeds from concurrent offerings for general corporate purposes, including capex, debt paydown, acquisitions, cash dividends on and share repurchases.
• TEVA -2%; said it was discontinuing its mid-stage neurodegenerative disorder study due to a low probability of the study meeting its main goal if continued. The company was testing its experimental oral drug, emrusolmin, in adults with multiple system atrophy.

Closing Recap

Friday, October 30, 2026

Ahead of Halloween, Wall Street was spooked by technology stocks, playing a “trick” not a “treat” for investors, and closing out a tumultuous month for the AI related trade. U.S. stock markets tumbled behind a sharp -2.86% drop in the Nasdaq, hitting near 3 month lows as aggressive AI spending plans from Amazon and Intel's cash-burn warning heightened investor concerns over soaring AI buildout costs and the timeline for returns. Intel posted its steepest one-day drop on record with a near 29% slide after saying it would burn cash this year due to a weak PC market, manufacturing hurdles and heavy spending to expand production. The warning from both led to further aggressive selling in semis and the AI chain, with data centers, opticals and infrastructure names extending their monthly declines. Software stocks also added to the bloodbath in tech with TWLO falling on lower guidance, just a day after weak results from NOW crushed the sector. The S&P Tech sector (XLK) fell nearly -5% Friday while the SOX index fell over -7.2%, breaking below key technical support levels (and finished down over -15.3% this month), off the lows of the day. The CBOE Volatility index (VIX) spiked as high as 23.93 this afternoon, taking out Friday 10/16 22.31 high, but ended the day just below 20.

Overall though, October has been a great month for most of the other S&P 500 names, with 9 of 11 sectors posting monthly gains and 4 of those 9 racking up for double digit % gains. Communications (XLC) is down over -9% this month while Technology (XLK) is down -7.5%. On the flip side, investors have rotated into Energy (XLE), which is up 13% in October due to surging oil/energy prices, while defensive Healthcare (XLV), Utilities (XLU) and Consumer Staples (XLP) are all on track for monthly gains of over 10%. All three major indexes posted weekly losses after the Nasdaq posts biggest one-day percentage loss since June 5^th (biggest monthly % decline since March 2025). For the week, the S&P 500 fell -0.58%, the Nasdaq declined -2%, and the Dow fell -0.85% while for the month the S&P 500 fell -0.94%, the Nasdaq declined -5.3%, and the Dow climbed 1.7%. S&P 500, Nasdaq fall for third straight week, longest weekly run of declines since March.

The Nasdaq 100 index is on track for a $2 trillion market value wipeout in October as investors scrutinize Big Tech's massive artificial intelligence spending. Companies like Alphabet and Meta are raising concerns about cash burn and capital markets access, while Microsoft and Amazon show AI investments beginning to pay off. Hyperscalers like AMZN, GOOGL, META, SPCX and others have not guided Wall Street properly on how much they intended to spend this year and next on AI infrastructure. The bills are coming in much larger than expected and the fact that cash flow (FCF) is drying up from the hyperscalers because of a protracted period of spending is causing the debt and stock markets to retreat. The prospect of ever-bigger AI outlays has unnerved investors, particularly as rising borrowing costs threaten to make debt-funded investment more expensive and harder to justify. Amazon's free cash flow decreased to an outflow of $42.4 billion for the trailing twelve months (compared to a free cash flow inflow of $14.8 billion y/y); Google posted negative free cash flow of $9.1 billion in the quarter versus a Wall Street estimate for negative $3.5 billion. Meta last week posted negative free cash flow for the first time since 2012. SpaceX (SPCX) burned about $9.9 billion in free cash flow in the quarter.

Another huge story was in the crypto markets as hackers stole $6.3 billion from Binance, the world's biggest cryptocurrency exchange, in a record theft that analysts pinned on North Korea. Cryptocurrency prices fell on the news with Bitcoin down -1.5% to $77,600, while Binance halted withdrawals and said it would cover the losses. About half the stolen assets were quickly frozen by stablecoin issuers such as Tether, Circle and the Trump-backed World Liberty Financial. "This was a complex attack, and we are doing all we can in coordination with law enforcement to resolve it," Binance said in a post on X. The exchange said customer funds were safe and that it was working with partners to freeze some of the affected assets, with about $3 billion located so far. It expects to resume withdrawal services in the next 45 hours. It did not mention the status of the remaining $3.3 billion. Co-CEO Teng said that "and company funds" would cover losses.

• U.S. Q3 employment cost index +0.8% (consensus +0.8%) vs Q2 +0.9% (prev +0.9%); U.S. Q3 wages/salaries +0.7% vs Q2 +0.9% (prev +0.9%) and U.S. Q3 benefit costs +0.9% vs Q2 +1.0%.

• Oil prices added to weekly gains, as WTI crude rose $2.12 or 2.08% to settle at $104.12 per barrel, its highest close since September 15^th and rising over 15% this month alone (up 4 straight months) while Brent crude rose $2.76, or 2.4% to $117.64 per barrel, its highest close since April 29^th
• Global bond yields end October sharply lower as a flight to safety revived demand for government debt, even as markets braced for higher short-term borrowing from the U.S. Treasury. The 10-year Treasury yield traded at 4.913%, down -6 bps today and -36.4 bps this month, its largest monthly decline since December 2023. In Germany, the 10-year Bund yield settled at 3.319%, 26bps this month in its largest monthly decline since April 2025. The 2-year yield fell -7.5bps today to 4.579% and down 30.6 bps in October, snapping a 7-month streak of rising yields; down 5 straight weeks.

• Retail sector: CPRI shares outperform as Q2 revenue fell 5.5% y/y to $809M but topped analyst expectations of $780.7M on better earnings while guided annual profit of about $2.20 per share, compared with prior forecast of $2.15 per share. XPOF shares jumped after Blomberg reported Fund 1 Investments, the third-largest shareholder in Xponential Fitness, is pushing for a take-private deal and is looking to buy them nential, said the sources.
• Consumer Staples: CL raised its annual adjusted EPS view after beating Q3 net sales and profit estimates; now sees FY26 adj EPS growth of 5% to 7%, compared with mid-single-digit growth previously while narrows annual net sales growth forecast to 4%-5% from prior 2%-6%. Had posted Q3 $EPS $0.97/$5.37B sales vs. est. $0.93/$5.33B.
• Restaurant sector: SBUX delivered a strong F4Q print with impressive margin performance driving a meaningful EPS beat, and guided FY27 margins and EPS ahead of expectations. F4Q NA SSS were +7.9%, reflecting broad-based strength across the business, and SBUX expects underlying momentum to continue with FY27 SSS of ~4%.
• Auto sector: electric vehicle maker RIVN was strong after results after posting a smaller than expected Q3 loss and revs of $2.15B topped consensus as they 19,248 vehicles in Q3, up 46% y/y, led by R2 model and raises 2026 delivery guidance to 67k-70K vehicles from 65k-70K.

• Solar sector: FSLR shares pressured early after results as Q3 EPS topped views but Q3 revenue of $1.23B misses consensus $1.29B due to a decrease in the volume of modules sold to third parties; cuts FY26 revenue view to $4.6B-$4.9B from $4.9B-$5.2B and lowers FY26 volume sold estimate. TE signed solar module supply contracts totaling more than 1,580 MW, including deals with Avantus subsidiaries; deliveries from its G1_Dallas facility are expected in 2027 and 2028

• Mortgage sector: RKT reported solid 3Q26 results, although disappointing 4Q26 guidance underscored the increasingly challenging U.S. mortgage market. Adjusted EPS of $0.15 was $0.01 below our estimate but ahead of the $0.13 consensus, as weaker-than-expected origination volumes were partially offset by stronger GOS margins. The primary disappointment was 4Q26 revenue guidance, which implies a meaningful sequential slowdown in mortgage activity and raises questions about the sustainability of operating leverage heading into 2027.

• ABOS shares tumbled after saying its experimental Alzheimer's disease drug sabirnetug failed the main goal of a mid-stage study, showing no meaningful benefit in slowing memory and functional decline versus placebo; key secondary measures also failed to reach statistical significance.
• AGIO shares fall as the FDA extended review of its drug mitapivat for sickle cell disease by three months as sets new action date of February 1, 2027 (from original PDUFA date of 11/1/26). The FDA requested more info to evaluate whether a risk evaluation and mitigation strategy is necessary for the drug for sickle cell.
• INCY was upgraded from Perform to Outperform at Oppenheimer along with its Q3 update, as it believes INCY is increasingly demonstrating a credible path to growth beyond Jakafi 2029 LOE, supported by strong underlying commercial performance and continued pipeline advancement.
• NRXP said the FDA approved its preservative-free ketamine injection ahead of the agency's November 10 target decision date; says ketamine injections have been in shortage since 2018 and remain on the FDA drug shortage list.
• REGN rises as Q3 adjusted profit of $20.07 per share, above analysts' estimate of $16.24 per share and Q3 revenue of $5.12B, above analysts' estimate of $4.54B boosts shares.

• Diagnostics sector: CDNA reported Q3 results that were above consensus, driven by continued expansion in Transplant test volume, and raised FY26 revenue view to $520M-$530M from prior $490M-$500M and adj EBITDA view to $90M-$100M from $66M-$78M.
• Insulin sector: DXCM Q3 adj. EPS $0.73 vs. est. $0.67 (beat); revenue $1.344B vs. est. $1.327B (beat); adj. operating Income $339.5Mm vs. est. $314.2Mm (beat); adj. net Income $275Mm vs. est. $256.6Mm (beat); adj. gross profit $875.3Mm; GAAP EPS $0.72; FY26 revenue guidance $5.20B-$5.25B vs. est. $5.23B; authorized up to $1B in share repurchases.

• Transport sector: FDXF shares rose as quarterly revenue rose 8% to $2.44B topping estimates of $2.37B and guided Q4 earnings above estimates citing improvement in volumes (sees Q4 adj EPS $0.65-$0.75 vs. est. $0.53) after posted an adjusted profit of $1.49 per share, above analysts expectation of $1.36.in airlines, Air passenger demand fell 0.5% in September mainly due to the Middle East and North America regions, while Africa, Latin America and the Caribbean grew, according to data from the International Air Transport Association. Demand--measured in revenue passenger kilometers--fell 8% in the Middle East and was 1.6% lower in North America. However, Africa demand rose 5%, while Latin America and the Caribbean rose 4.3%, according to the data. Despite the overall drop, total demand was an improvement compared with the prior month with a return to growth in most international markets, IATA says.
• Shipping/tanker sector (SHIP, DSX, GOGL, SB, SBLK, CTRM): The Baltic Dry Index, which tracks rates for ships carrying dry bulk commodities, was dragged lower by continued weakness in Capesize and Panamax vessel rates. The main index edged higher 2 points today to 2,714 points, its highest since October 13, but was still down for a second straight monthly decline, down more than 12% in October. The Capesize index rose by 36 points to 4,126 points, but down 16% on month while the panamax index fell 32 points, to 1,889 points, lowest level since April 13 and down over -20% this month.
• Building product sector: FND shares slumped on results as Q3 sales $1.21B missed est. $1.22B and Q3 comp sales -1.4%; while MHK Q3 adj EPS $2.72 vs. est. $2.58 and sales $2.8B, in-line with estimates; guides Q4 EPS $1.35-$1.45 vs. est. $1.66; expects low single-digit growth in Q4 2026 adjusted net sales versus prior year; assumes Q4 flooring market conditions will be softer than Q3.

• Chemical sector: EMN posted mixed Q3 results with EBIT of $305M and EPS of $1.84 largely missing consensus of $1.92. Price/cost in A&FP also remained a solid tailwind as the segment handily beat. However, volumes were much weaker at +1% and Q4 EPS guidance is $1.10-$1.30 vs. $1.31 consensus; OLN Q3 EBITDA of $191M came in ahead of the $180M consensus, vs a $160M-$200M guide though weak Q4 guidance of $80M-$100M, was below the $116M consensus.

• More AMZN: AWS revenue reached $46B, up 39% YoY, bringing ARR to $184B. Backlog grew to $578B, up $82B Q/Q from $496B. AWS revenue of $46.0B (+39% Y/Y) accelerated for a sixth straight quarter. Advertising revenue of $19.6B (+12% Y/Y ex-FX) was 6% below consensus on timing. Operating income of $28.1B (13.9% margin) was 6% above the high end of guidance. AWS operating margin expanded ~400 bps Y/Y to 38.7%. CapEx was $75.9B; reiterated ~$220B for 2026 and expects to spend "meaningfully more" in 2027.
• Internet/Socal media sector: RDDT shares tumbled after results, also downgraded to Sector Weight at KeyBanc (and Citizens) saying their thesis is not playing out; search traffic is a larger headwind than envisioned (potential for a LDD% q/q decline in 4Q), and this creates more uncertainty around '27E/'28E revenue and EBITDA. GDDY reported 3Q revenue/NEBITDA/FCF of $1,342M/$449.3M/$480.8M vs. consensus' $1,327M/$440.2M/$461.1M as Airo ARR doubled Q/Q to $100M+ and are now more-than-offsetting headwinds from migrations from legacy products.

• The PHLX Semi Index (SOX) dropped over 7% to below its 200dma support of 10,785 this morning in a broad, aggressive and volatile pullback in semis. The semi space took another leg lower midafternoon after reported Anthropic is expected to receive a “high” junk rating, per a report in The Financial Times.
• SNDK delivered another positive beat / raise in the memory sector, but broader weakness in semi space on INTC lower guide and general AI concerns right now pushing shares lower
• AXTI reported 3Q26, with sales/EPS of $73.4M/$0.41, above consensus of $66.0M/$0.31. Strong beat and raise as InP revenue increased 67% Q/Q to $54M. InP backlog increased to $500M+ from $100M+ in 2Q. InP quarterly capacity expected to be ~$70M in 4Q26, increasing to ~$140M in Q4.
• MPWR reported strong 3Q results and 4Q guidance, which solidly exceeded expectations. Upside was primarily driven by Enterprise Data, which grew +165% y/y and Communications (Optical Networking), which grew +135% y/ y. Accordingly, MPWR increased its ED growth outlook to +150% this year from +130% prior.

Street Recommendations

Monday, November 2, 2026

• CAR Barclays lowered the firm's price target on Avis Budget to $115 from $160 and keeps an Equal Weight rating on the shares. The firm sees mixed fundamentals heading into the Q3 report. Softer demand will likely be offset by pricing, the analyst tells investors in a research note.
• BFAM Barclays lowered the firm's price target on Bright Horizons to $80 from $95 and keeps an Overweight rating on the shares. The company's mixed Q3 report was overshadowed by downward revisions to its fiscal 2026 outlook, the analyst tells investors in a research note.
• CPRI Barclays raised the firm's price target on Capri Holdings to $24 from $19 and keeps an Overweight rating on the shares following the earnings report. The firm sees a clear path to an inflection at Michael Kors.
• FSLR Barclays lowered the firm's price target on First Solar to $75 from $100 and keeps an Equal Weight rating on the shares following the earnings report. The company's "surprise miss" in the December quarter is due to the PC environment materially worsening in the last few weeks, the analyst tells investors in a research note.
• KYMR Barclays raised the firm's price target on Kymera Therapeutics to $170 from $139 and keeps an Overweight rating on the shares. The company reported initial IRF5 data showing deep degradation in blood and skin and reduction in inflammatory cytokines in the Phase 1 data from KT- 579, the analyst tells investors in a research note.
• HSY Barclays analyst Andrew Lazar lowered the firm's price target on Hershey to $171 from $178 and keeps an Equal Weight rating on the shares. The company's 2027 earnings growth could miss the initial guidance amid rising freight and logistics costs and a tougher macro backdrop, but the share price performance from here will hinge more on whether non-seasonal volume shows more meaningful improvement as Hershey increasingly laps pricing, the analyst tells investors in a research note.

• INCY Bernstein raised the firm's price target on Incyte to $108 from $104 and keeps a Market Perform rating on the shares. All in, the firm says it is encouraging to see Incyte announce the trial's discontinuation given it had modeled lower commercial potential. The company has been making progress with its ex-Jakafi products in the pipeline spanning hematology, oncology and IAI. Still, Bernstein expects Incyte will have to go through the "trough," and it maintain a "wait-n-watch" pending additional data release.
• RSG Bernstein raised the firm's price target on Republic Services to $230 from $227 and keeps a Market Perform rating on the shares. The firm notes the company reported quarterly results that beat on the top and bottom line, a result of a very strong Environmental Solutions segment up 21%.
• QCOM Bernstein lowered the firm's price target on Qualcomm to $155 from $165 and keeps a Market Perform rating on the shares ahead of quarterly results. The firm models September quarter at $10.1B/$2.15, roughly in line with Visible Alpha consensus and guidance. However, Bernstein had already thought forward numbers looked somewhat high, and lowers its estimates further given increasingly weak smartphone datapoints.

• PSA BofA raised the firm's price target on Public Storage to $348 from $341 and keeps a Neutral rating on the shares after the company reported better-than-expected same store metrics. Results reinforce a continued recovery in storage fundamentals, the analyst tells investors.

• IDA BTIG raised the firm's price target on Idacorp to $155 from $153 and keeps a Buy rating on the shares. The company's Q3 earnings call was mostly focused on potential boosts to its mid- to high-teens rate base growth potential, and the firm believes that its base growth potential - already the highest in the firm's coverage - appears highly likely to head higher for longer on the year-end earnings call in February, the analyst tells investors in a research note.

• ALNY Canaccord analyst Whitney Ijem lowered the firm's price target on Alnylam to $323 from $429 and keeps a Buy rating on the shares. The firm updated its odel following inline Q3 results and said company commentary on future Amvuttra launch/demand was more cautious than it has been, and that combined with ongoing 340b angst, and maybe some hand-wringing on the TRITON-CM study upsize led to yet another sell off that is way over done.
• BBIO Canaccord raised the firm's price target on BridgeBio Pharma to $108 from $106 and keeps a Buy rating on the shares. The firm said they reported 3Q26 results that were straightforward and roughly in line, and gave helpful commentary on near-term launches ahead of its three upcoming PDUFAs.
• REGN Canaccord raised the firm's price target on Regeneron to $1,175 from $922 and keeps a Buy rating on the shares. The firm said Dupixent's impressive beat vs consensus reaffirms its core growth driver status, but Eylea HD and Libtayo are helping pick up some of 2mg Eylea's slack.

• AJG Citi downgraded Arthur J. Gallagher to Neutral from Buy with a price target of $300, up from $285. The firm cites valuation for the downgrade following Arthur J. Gallagher's recent multiple expansion. The stock now trades at 10% premium to peers versus near parity historically, the analyst tells investors in a research note.
• NVT Citi analyst Vladimir Bystricky lowered the firm's price target on nVent Electric to $200 from $228 and keeps a Buy rating on the shares. The company's Q3 report and updated 2026 outlook indicates strong underlying end market fundamentals, the analyst tells investors in a research note. Citi cites valuation pressure on the data center levered space for the target cut.
• GDDY Citi raised the firm's price target on GoDaddy to $135 from $105 and keeps a Buy rating on the shares. The firm views the company's Q3 report as "encouraging." GoDaddy's bookings growth is expected to exceed revenue growth in Q4, the analyst tells investors in a research note.

• HOPE DA Davidson downgraded Hope Bancorp to Neutral from Buy with a price target of $14, down from $16. The downgrade is driven by a delayed benefit of the recently completed MANUBANK acquisition, as a smaller balance sheet, higher expense run rate, and a later than expected system conversion pushes the EPS benefit materially into 2028 while resetting the firm's 2027 estimate lower, the analyst tells investors in a research note.

• CLX Evercore ISI analyst Javier Escalante upgraded Clorox to In Line from Underperform with a $99 price target ahead of the company reporting after the close. The firm, whose estimates are largely at consensus, believes Clorox shares appropriately discount the risk of an earnings reset, while adding that the appointment of Fabian Garcia as CEO brings "proven turnaround experience."

• APH Goldman Sachs analysts added Amphenol to the firm's US Conviction List as part of its monthly update. Goldman believes the company's product mix of critical data center components position it to continue to grow sales faster than expected. The firm has a Buy rating on the shares with a $122 price target.

• SFM Jefferies lowered the firm's price target on Sprouts Farmers Market to $63 from $95 and keeps a Buy rating on the shares. Q3 was "a modest miss," but the Q4 guidance came in well below the Street as management leans into price investment to address affordability, the analyst tells investors. While the January pricing reset is unproven and near-term visibility is limited, the firm thinks the selloff largely prices in the downside and resets expectations "appropriately" for next year, the analyst added.

• COHR JPMorgan analyst Joseph Cardoso lowered the firm's price target on Coherent to $385 from $465 and keeps an Overweight rating on the shares. The firm sees strong demand for the optical names heading into the fiscal Q1 reports. JPMorgan expects optical fundamentals to remain solid with most of its intra-quarter checks pointing to strong demand through year- end and into 2027.
• FN JPMorgan lowered the firm's price target on Fabrinet to $465 from $695 and keeps a Neutral rating on the shares. The firm sees strong demand for the optical names heading into the fiscal Q1 reports. JPMorgan expects optical fundamentals to remain solid with most of its intra-quarter checks pointing to strong demand through year- end and into 2027.

• CIFR Keefe Bruyette lowered the firm's price target on Cipher Mining to $11 from $28 and keeps an Outperform rating on the shares. AI colocation fundamentals remain attractive, but valuation discipline is increasingly important as miners trade near or below estimated contracted lease values, with greater clarity needed on construction costs and financing execution, the analyst tells investors in a research note. Upcoming project financings are key proof points, while a potential lease catalyst drought through early 2027 and Texas regulatory uncertainty may weigh on sentiment, the firm says.
• CLSK Keefe Bruyette analyst Stephen Glagola lowered the firm's price target on CleanSpark to $11.50 from $25 and keeps an Outperform rating on the shares. AI colocation fundamentals remain attractive, but valuation discipline is increasingly important as miners trade near or below estimated contracted lease values, with greater clarity needed on construction costs and financing execution, the analyst tells investors in a research note. Upcoming project financings are key proof points, while a potential lease catalyst drought through early 2027 and Texas regulatory uncertainty may weigh on sentiment, the firm says.
• CORZ Keefe Bruyette lowered the firm's price target on Core Scientific to $21 from $28 and keeps an Outperform rating on the shares. AI colocation fundamentals remain attractive, but valuation discipline is increasingly important as miners trade near or below estimated contracted lease values, with greater clarity needed on construction costs and financing execution, the analyst tells investors in a research note. Upcoming project financings are key proof points, while a potential lease catalyst drought through early 2027 and Texas regulatory uncertainty may weigh on sentiment, the firm says.
• HIVE Keefe Bruyette lowered the firm's price target on Hive Digital to $2.50 from $4.50 and keeps a Market Perform rating on the shares. AI colocation fundamentals remain attractive, but valuation discipline is increasingly important as miners trade near or below estimated contracted lease values, with greater clarity needed on construction costs and financing execution, the analyst tells investors in a research note. Upcoming project financings are key proof points, while a potential lease catalyst drought through early 2027 and Texas regulatory uncertainty may weigh on sentiment, the firm says.
• HUT Keefe Bruyette analyst Stephen Glagola lowered the firm's price target on Hut 8 to $92 from $154 and keeps an Outperform rating on the shares. AI colocation fundamentals remain attractive, but valuation discipline is increasingly important as miners trade near or below estimated contracted lease values, with greater clarity needed on construction costs and financing execution, the analyst tells investors in a research note. Upcoming project financings are key proof points, while a potential lease catalyst drought through early 2027 and Texas regulatory uncertainty may weigh on sentiment, the firm says.
• RIOT Keefe Bruyette lowered the firm's price target on Riot Platforms to $20 from $35 and keeps an Outperform rating on the shares. AI colocation fundamentals remain attractive, but valuation discipline is increasingly important as miners trade near or below estimated contracted lease values, with greater clarity needed on construction costs and financing execution, the analyst tells investors in a research note. Upcoming project financings are key proof points, while a potential lease catalyst drought through early 2027 and Texas regulatory uncertainty may weigh on sentiment, the firm says.
• WULF Keefe Bruyette lowered the firm's price target on TeraWulf to $20 from $29 and keeps an Outperform rating on the shares. AI colocation fundamentals remain attractive, but valuation discipline is increasingly important as miners trade near or below estimated contracted lease values, with greater clarity needed on construction costs and financing execution, the analyst tells investors in a research note. Upcoming project financings are key proof points, while a potential lease catalyst drought through early 2027 and Texas regulatory uncertainty may weigh on sentiment, the firm says.

• ICLR Mizuho raised the firm's price target on Icon to $228 from $190 and keeps an Outperform rating on the shares. The firm views the company's earnings report as solid. It now has increasing confidence in the durability of Icon's recovery, saying improved commercial momentum is beginning to translate into revenue growth and margin expansion.
• EHC Mizuho analyst Ann Hynes raised the firm's price target on Encompass Health to $155 from $140 and keeps an Outperform rating on the shares. The firm upped the company's estimates, saying it reported another strong quarter. Mizuho believes small-format hospitals coming online in 2027 will provide an incremental growth lever, expanding Encompass' presence in densely populated markets, capturing additional demand.

• COIN Morgan Stanley analyst Michael Cyprys downgraded Coinbase to Underweight from Equal Weight with a price target of $120, down from $258. The firm says confidence in Coinbase's earnings recovery has deteriorated. The company continues to execute on its broader strategy, but recent trading trends, a softer forward revenue outlook and uncertainty around the backdrop for crypto following the Binance hack suggest a weaker recovery than previously expected, the analyst tells investors in a research note. Morgan Stanley continues to view Coinbase as one of the best positioned platforms in crypto, but sees greater downside risk to earnings and the stock's valuation.
• XOM Morgan Stanley raised the firm's price target on Exxon Mobil to $187 from $185 and keeps an Overweight rating on the shares after the company reported Q3 EPS of $4.23, 2% above consensus and near MS estimates. Management expects flat year-over-year buybacks in 2027 at $20B and plans to disclose full FY27 guidance later this year, the analyst noted.
• AKAM Morgan Stanley lowered the firm's price target on Akamai to $149 from $165 and keeps an Overweight rating on the shares. The firm expects an in-line 3Q, but adds that commentary on ROI, payback, financing needs and product differentiation "likely carry more weight in Q3" as the debate on Akamai has shifted from whether Cloud Infrastructure Services can drive a meaningful acceleration in growth to whether the company can execute against its growing commitments while managing the significant capex and financing requirements, the analyst tells investors in a preview.

• COHR Northland upgraded Coherent to Outperform from Market Perform with an unchanged price target of $280.

• TFII RBC Capital lowered the firm's price target on TFI International to $117 from $144 and keeps an Outperform rating on the shares. The company reported lower than expected Q3 results and a Q4 guide that was notably below consensus expectation, the analyst tells investors in a research note. RBC adds however that it is less pessimistic on the downside risk for the stock from these levels, expecting fuel to normalize, pricing to catch up, and the freight environment to continue to improve heading into 2027.

• FLO Stephens lowered the firm's price target on Flowers Foods to $5.50 from $6 and keeps an Equal Weight rating on the shares as the firm adjusted estimates ahead of Q3 earnings. The firm expects Flowers to deliver Q3 results modestly below consensus and believes investors will be focused on consumption trends into Q4 with eyes on FY27.

• FND Stifel lowered the firm's price target on Floor & Decor to $51 from $52 and keeps a Hold rating on the shares.
• IR Stifel raised the firm's price target on Ingersoll-Rand to $95 from $93 and keeps a Buy rating on the shares.
• SYK Stifel analyst Rick Wise lowered the firm's price target on Stryker to $325 from $330 and keeps a Buy rating on the shares.
• TFII Stifel analyst J. Bruce Chan lowered the firm's price target on TFI International to $107 from $132 and keeps a Hold rating on the shares.

• CHRW Susquehanna lowered the firm's price target on C.H. Robinson to $166 from $180 and keeps a Positive rating on the shares. The firm updated models for the trucking brokers post the Q3 reports.
• LSTR Susquehanna analyst Christopher Stathoulopoulos lowered the firm's price target on Landstar System to $160 from $190 and keeps a Neutral rating on the shares. The firm updated models for the trucking brokers post the Q3 reports.
• RXO Susquehanna raised the firm's price target on RXO Inc. to $30 from $19 and keeps a Neutral rating on the shares. The firm cites the pending takeover for the target boost.

• DVA UBS analyst AJ Rice raised the firm's price target on DaVita to $287 from $270 and keeps a Buy rating on the shares. DaVita beat Q3 expectations on continued U.S. dialysis growth and strength in international, G&A and IKC, raising FY26 operating income and EPS guidance while expecting phosphate binder operating income to grow in 2027 despite lower reimbursement, the analyst tells investors in a research note.
• LYFT UBS raised the firm's price target on Lyft to $18 from $17 and keeps a Neutral rating on the shares. Lyft estimates are being cut as softer trip momentum and higher incentives weigh on bookings and EBITDA, while uncertainty around achieving its 2027 margin target and perceived Waymo share gains in the Bay Area remain valuation headwinds despite no clear acceleration in Waymo trips, the analyst tells investors in a research note.
• UBER UBS lowered the firm's price target on Uber to $106 from $110 and keeps a Buy rating on the shares. Uber's 2026-27 bookings and EBITDA estimates are trimmed modestly due to tougher U.S. mobility comparisons and persistent Brazil scooter competition, but underlying growth supports potential upside to the Street's 21% EBITDA/free cash flow CAGR forecast through 2028, even without clarity on robotaxis, the analyst tells investors in a research note.
• CEVA UBS lowered the firm's price target on Ceva (CEVA) to $40 from $48 and keeps a Buy rating on the shares. Handset royalty revenue is expected to drive September-quarter upside, supported by a larger Apple (AAPL) contribution and improving momentum at UNISOC, the analyst tells investors in a research note.
• CVX UBS analyst Josh Silverstein raised the firm's price target on Chevron to $265 from $235 and keeps a Buy rating on the shares.

• HCA Wells Fargo raised the firm's price target on HCA Healthcare to $468 from $381 and keeps an Equal Weight rating on the shares. Improvement in core growth was the highlight of Q3, the firm says. Wells also notes that stable 2027 EBITDA was not a surprise given moving parts and its estimates are now in-line vs. mid-single digit percentage below previously.
• THC Wells Fargo analyst Stephen Baxter raised the firm's price target on Tenet Healthcare to $321 from $281 and keeps an Overweight rating on the shares. The firm says that while core upside in Q3 was limited, underlying earnings growth and execution remains robust.
• LYB Wells Fargo raised the firm's price target on LyondellBasell to $76 from $70 and keeps an Overweight rating on the shares. The firm cites an increasingly positive outlook for the polyethylene market, as Wells sees growing traction for a price increase in October as the conflict in the Middle East persists.
• CHD Wells Fargo raised the firm's price target on Church & Dwight to $115 from $105 and keeps an Overweight rating on the shares. The firm says the company confronted two key concerns with its Q3 results, by sustaining strong organic sales growth despite tougher year-ago compares, and offering constructive early commentary on 2027, namely the ability to expand margins despite worsening inflation.
• NVT Wells Fargo raised the firm's price target on nVent Electric to $190 from $182 and keeps an Equal Weight rating on the shares. The firm highlights strong orders, incrementals a bit better, and sequential trends mixed. Wells also notes numbers are going up, with the pullback likely more about the macro and making things "more interesting."
• LEN Wells Fargo analyst Sam Reid raised the firm's price target on Lennar to $80 from $75 and keeps an Equal Weight rating on the shares. The firm now models Q4 gross margin at 15.2%. Importantly, Wells takes FY27 to 14.2% to capture both continued incentive pressure and additional interest expense from off balance sheet land.
• SMG Wells Fargo analyst Michael Ruch assumed coverage of Scotts Miracle-Gro with an Overweight rating with a price target of $71, up from $60. The firm sized potential headwinds into FY27 and thinks they're manageable. Wells sees opportunity with shares just off historical low valuation.

Rating abbreviations…

***OP = Outperform

***SP = Sector Perform

***UP = Underperform

***OW = Overweight

***EW = Equal-weight

***UW = Underweight

***Report powered by thefly.com***

What’s on Tap Weekly Calendar

• 10:00 AM ET                 Construction Spending for September
• 10:00 AM ET ISM Manufacturing PMI for October

• Earnings After the Close: AAPL ADTN AEHR AEIS ALG ALSN APPS BCC BLZE BMRN BRCC BSM BVS BWXT CALX CBT CC CE CERS CLX CRBG CRC CRGY CSR CSWC CWH DHC DOC EBS EQH ESRT EVER FANG FN GAIA HLF HLIT HNGE HSTM HUN ICHR IIPR INSP IRT JAZZ LSCC MSA MTCH NBIX NMFC O OGS ON OPAD OTTR PAY PLOW PLTR PS RHP RIG ROKU RXRX SBAC SBRA SIBN SITC SNDX TBBB TNC TTI TVTX UDR UPWK UTL VAL VNO VNOM VOYA VRTX VTS VVX WAY WMB

• 8:55 AM ET                   Johnson/Redbook Weekly Sales
• 10:00 AM ET                 Durable Goods, M/M for September
• 10:00 AM ET                 JOLTs Job openings for September
• 10:00 AM ET                 Factory Orders M/M for September
• 4:30 PM ET API Weekly Inventory Data

• Earnings After the Close: ACEL ADUS AFG AIG AIZ ALAB ALIT AMD AMGN AMWL ANDE ANET ANGI AQST ARDX ASH ATRC BKNG BXC CAR CBLL CHCT CORT CPNG CRCT CURLF CXDO DEI DOX DRH DUOL EVTC FBIN FLYW FRSH FTEK FTK GEF GOOD GSM GXO HL HMN HURN IFF IOSP IPI ITUB JELD JKHY JXN KODK LMB LTC MCY METC MIRM MOD MOS MQ MTDR MTW NVTS OHI OUST OVV PARR PCOR PRIM PRU PXED QDEL RARE RRR RWT RYAM SAFE SDRL SGHC SKY SM SMCI SPT SU SWIM SWKS TALO TOST TREE TRVG TSLX UFCS UNM USNA VRNS WTRG XYZ ZVRA

• 8:15 AM ET ADP Private Payrolls for October
• 8:30 AM ET                   Advance Goods Trade Balance for September
• 8:30 AM ET                   International Trade for September
• 9:45 AM ET S&P Global Composite PMI, Oct-final
• 9:45 AM ET S&P Global Services PMI, Oct-final
• 10:00 AM ET ISM Non-Manufacturing PMI for October
• 10:30 AM ET                 Weekly EIA Inventory Data

• Earnings After the Close: ACAD ACHC ACT ADPT AEVA AFL AGL AKA ALB ALGT ALL ALNT ALTO AMC AMCR AMH AMPL APA APC APP ARAY ARDT ATNI ATO AWR BBSI BIO BKH BROS BYND CAI CAPL CDE CDRE CF CGNX CHRD CHYM CLOV CODI COHR COOK COTY CPAY CPS CRK CRUS CW CXT CXW CYTK DASH DAVE DDD DHX DLX ECOR EE EGHT EHTH ELF EOLS ERII ES EW EXPE FC FICO FIG FSLY GNK GNL GNW GOLD GPOR GRAL GT GTM HCC HUBS INSG IPAR ITT JOBY KE KVYO LB LEU LILA LOPE LUMN LZ MAC MATX MBI MCK MELI MET MGNI MKSI MRVI MSI MTG MUR MWA MX MYGN NAVI NGVT NTGR MTR NVST NWSA OEC OM ORA PAAS PACB PAHC PAYC PCY PGNY PK PLMR POWI PRI PTC QCOM QGEN QNST RCUS RDN RELY RGLD RGR RLAY RPD RRGB RUN RVMD RYN SBGI SDGR SEI SEZL SITM SKT SNAP STAA STE TBI TDUP TKO TROX TS UHAL UIS UPLD UVV VCTR VECO VIAV VIR VSEC WES WOLF WTS WU XPER XRN Z ZG ZVIA

• 8:30 AM ET                   Weekly Jobless Claims
• 8:30 AM ET                   Continuing Claims
• 8:30 AM ET                   Nonfarm productivity for Q3-prelim
• 8:30 AM ET                   Unit Labor Costs for Q3-prelim
• 10:30 AM ET                 Weekly EIA Natural Gas Inventory Data

• Earnings After the Close: AAOI ABNB ABX ACH AEE AFRM AGM AGO AHR AKAM ALLO ALRM AMN AMPH AORT AOSL APLE ARCT ARLO ARRY ASLE ATEN AXON BARK BILL BJRI BL BLNK BTE CABO CARG CART CBL CELC CENX CLAR CLNE CNDT COMP CON CPK CPT CRSR CSTL CTMX CTRE CYRX DBX DIOD DKNG DOCS DVN ED EGAN EOG ETON EVC EVCM EXFY FIGS FIVN FNF FNKO FOXF FROG G GH GMED GPRE GSBD HALO HASI HCAT HHH HNST HY IAG ICFI ICUI INOD INSE IONQ IREN IRTC JHX KINS KRMN KRT KRUS KTOS LASR LIDR LION LITE LOCO LYFT LYVMAIN MAT MC MCHP MNST MP MTD NET NGL NOG NTRA NUS NXH OMDA OPEN OUT PAR PBA PCTY PDFS PRAA PSIX QNT QSI REG REI RGA RILY SG SI SKIN SKWD SMR SOUN SPG SRPT SSP STEP TDC TEAM TMDX TNDM TRUP TXG TXRH UMAC VERA VSTM WEST WHG WK WLDN WPM WSC WYNN XPOF XRAY YELP ZD

• 8:30 AM ET                   Private Payrolls for October
• 8:30 AM ET                   Manufacturing Payrolls for October
• 8:30 AM ET                   Unemployment Rate for October
• 8:30 AM ET                   Average Hourly earnings M/M for October
• 10:00 AM ET                 University of Michigan Confidence, Nov-prelim
• 10:00 AM ET                 University of Michigan 1-yr and 5-yr inflation expectations
• 1:00 PM ET                    Baker Hughes Weekly rig count data

• Earnings After the Close: BH HE