Skip to content
Risk warning: Our products are leveraged and carry a high level of risk, which can result in the loss of your entire capital. Such products may not be suitable for all investors. It is crucial to understand the risks involved fully.
  • Support
  • For Institutionals
  • Trading

    Trading Platforms

    • MetaTrader 4 Terminal
    • MetaTrader 5 Terminal
    • PAMM Accounts
    • Equinix Trading Server

    Markets coverage

    • Forex Currencies
    • Spot Metals
    • Commodities

     

    • CFDs on Stocks
    • Indices
    • CFDs on Crypto

    Start Trading

    • Standard Accounts For individuals
    • Institutional Account For professionals
    • Deposits & Withdrawals
  • Conditions

    Trading Conditions

    • Spreads Overview
    • Swap-Free
    • Leverage Information

     

    • CFD Specifications
    • Full Trading Conditions

    Invest on your terms

    Transparent pricing, reduced trading costs, and leverage that adapts to your strategy.

    Explore conditions
  • Tools
    • Weekly Outlook
    • Daily Technical
    • Market Commentary
    • Economic Calendar
    • News & Insights
  • About
    • About OnEquity
    • Company News
    • Legal Documentation
    • Client Protection
    • Help & Support
    • FAQs
  • Partners
Edit Content
  • English
    ACTIVE
Other languages:
  • Español – Spanish
  • Português – Portuguese
  • English – International
  • Trading
    • Markets Coverage
    • MetaTrader 5 Platform
    • MetaTrader 4 Platform
    • Standard Accounts
    • Institutional Account
    • PAMM Accounts
    • Equinix Trading Server
    • Deposits & Withdrawals
  • Conditions
    • Spreads Overview
    • Leverage Information
    • Swap-Free Trading
    • CFD Specifications
    • Full Trading Conditions
  • Tools
    • Daily Technical
    • Weekly Outlook
    • Market Commentary
    • Economic Calendar
    • News & Insights
  • About
    • About OnEquity
    • Company News
    • Legal Documentation
    • Client Protection
    • Help & Support
    • FAQs
  • Partners
  • Client Portal
  • Open Account
Edit Content
  • English
    ACTIVE
Other languages:
  • Español – Spanish
  • Português – Portuguese
  • English – International
Open Account
Client Portal
Markets

Market Highlights for the Week: Employment, GDP, and Tech Results

October 28, 2024 OnEquity

This week promises to be eventful in the markets, with U.S. employment and GDP data releases and significant earnings reports from major tech companies. As the U.S. presidential election and the Federal Reserve’s November meeting approach, volatility is expected to persist. Here’s what to watch in the markets this week:

Non-Farm Payrolls

Friday’s employment report is expected to show a slowdown in job growth to 111,000 in October due to strikes (at Boeing, Textron, and Hilton Hotels) and disruptions from Hurricanes Helene and Milton. The unemployment rate is anticipated to hold at 4.1%.

The Fed has indicated it plans to cut rates by 25 basis points at its November meeting following a 50 basis point reduction in September; however, this week’s employment data could influence that decision. While the Fed may discount temporary factors affecting payrolls, Tuesday’s September JOLTS data and Thursday’s jobless claims report will be closely monitored for signs of labor market softening.

GDP data

Another key data release is the third-quarter GDP estimate, along with Thursday’s personal income and spending report, which includes the Fed’s preferred inflation gauge, the core PCE price index. Economists project the economy grew at a 3% annual rate, consistent with last quarter’s growth.

Other economic indicators this week include October’s consumer and business confidence reports, pending home sales, and the Institute for Supply Management’s manufacturing index. The Fed’s “communications blackout” period will also begin ahead of its Nov. 7 policy meeting.

Mega-Cap Tech Earnings

Five of the “Magnificent Seven” tech giants are set to report this week. Google’s parent, Alphabet, will release results on Tuesday, followed by Microsoft and Meta Platforms (Facebook’s parent) on Wednesday, and Apple and Amazon on Thursday. Together, these companies make up 23% of the S&P 500’s weight, meaning their results could significantly influence market trends.

Tesla, the first of the seven to report, saw its shares climb last Thursday after CEO Elon Musk expressed confidence that vehicle sales would increase by 20-30% next year. Overall, these tech companies have shown stronger earnings growth than the broader S&P 500, though that gap is expected to narrow in coming quarters.

Market Volatility

This will be the last full trading week before the U.S. presidential election on November 5 and the Fed’s policy decision on November 7, likely keeping investors on high alert. Donald Trump and Kamala Harris are closely matched in polls and in key swing states, with Trump gaining ground in recent weeks. Election forecast markets now show him with a slight edge.

“Investors should prepare for market volatility in the lead-up to the U.S. presidential election,” analysts at UBS Global Wealth Management noted on Thursday. With Nov. 5 approaching, market sentiment is likely to stay fragile.

Oil Prices

Oil prices could drop as trading resumes Monday following Israel’s limited retaliatory strike on Iran over the weekend, which spared Tehran’s oil and nuclear facilities. U.S. Brent and West Texas Intermediate crude futures both rose 4% last week amid ongoing uncertainty about the effects of the October 1 Iranian missile strike and the impending U.S. election.

Iran downplayed the strike, saying it caused limited damage. Meanwhile, energy traders are watching for further details on China’s stimulus measures, although analysts do not expect these policies to significantly boost oil demand.

  • Highlights
  • Market
  • Week

Post navigation

Previous
Next

Search

Categories

  • Analysis (217)
  • Beginner (24)
  • Cryptos (145)
  • Currencies (188)
  • Daily Technical (147)
  • Education (64)
  • Expert (23)
  • Intermediate (17)
  • Markets (434)
  • News & Releases (22)
  • Stocks (290)
  • Uncategorized (1)
  • Weekly Outlook (69)

Recent posts

  • Trading Hours Update – Additional Changes for August 2025
  • Today’s stocks to watch: Berkshire, Boeing, and Amazon
  • U.S. stock futures rise on heightened hopes for interest rate cuts

Tags

Analysis Bitcoin Cardano CPI Crypto Cryptocurrencies Currencies Daily Dollar earnings Education Elections ETF ETFs Ethereum Euro Fed Index inflation Litecoin Market Markets Nasdaq oil Outlook Pound Ripple SEC Solana Stablecoin Stock Market Stocks Stocks Market Stocks today Technical Technical Analysis Technology Tether Trading Trump Wall Street Weekly Weekly Outlook Yen Yuan

Related posts

Markets

Market Highlights for the Week: Elections, Fed, and Earnings

November 4, 2024 OnEquity

This week is set to keep investors on edge, with a closely contested U.S. presidential election and a Federal Reserve meeting that could bring another rate cut. Here’s what to watch for in the markets in the coming days. U.S. Elections Tuesday is Election Day, with early voting already underway in a very tight race between […]

Markets

Market Highlights for the Week: Tesla, IMF, and Oil

October 21, 2024 OnEquity

Tesla will be the first of the “Magnificent Seven” to report in the corporate earnings season. Global financial leaders will meet in Washington, and oil prices remain volatile. Here’s a look at what’s happening in the markets this week. Tesla Reports Its Results As earnings season picks up momentum, Tesla (TSLA) will be one of […]

  • Privacy policy
  • Client agreement
  • Legal
  • Support
  • +2484671965
  • [email protected]
  • Chat with us
Company
  • About us
  • Regulation
  • Safety of funds
  • Company news
  • Insights
  • FAQ
Account options
  • Standard accounts
  • Institutional account
  • PAMM accounts
  • Swap-free account
Conditions
  • Spreads overview
  • Leverage tiers
  • CFD specifications
  • Markets coverage
Trading tools
  • MetaTrader 5
  • MetaTrader 4
  • Equinix trading server
  • Economic calendar
  • Daily technical
  • Weekly outlook
  • Market commentary
OnEquity Ltd is incorporated in Seychelles as a Securities Dealer with License No. SD154, authorized by the Seychelles Financial Services Authority (FSA), adhering to the Consolidated Securities Act, 2007. Registration No. 810588-1.

The website is operated and provides content by the OnEquity group of companies, which include:

OnEquity SA (Pty) Ltd, incorporated in South Africa, Company reg. 2021/321834/07, regulated by the Financial Sector Conduct Authority (FSCA) with FSP No. 53187.

OnEquity LLC, recognized by the Registrar of International Business Companies and the Financial Services Authority in St. Vincent and the Grenadines, Registration No. 286 LLC 2020.

ONEQ Global Ltd, registered in Cyprus, Company reg. HE 435383, located at Agias Zonis 22, Limassol, focusing on comprehensive service solutions within the OnEquity Group.
Risk Disclosure: Trading in financial instruments involves substantial risk and may not be suitable for all investors. The value of investments is volatile and can result in total loss of capital. Investors should consider their financial situation, investment experience, and risk tolerance, and may seek professional advice. Past performance is not indicative of future results.

Eligibility: Services are available to individuals 18 years or older.

Restricted Jurisdictions: The content provided by OnEquity is not intended for residents of the United States, Canada, North Korea, Yemen, Iran, Belgium, Syria, or any jurisdiction where such distribution or use would be contrary to local law or regulation.

All trademarks™ and brand names belong to their respective owners and are used here for identification purposes only. Use of these names does not imply endorsement.
© OnEquity. All Rights Reserved.