What to Watch in the Day Ahead - Friday, November 1
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On the U.S. economic front, the Labor Department's monthly employment report is expected to show that nonfarm payrolls likely added 113,000 jobs in October after adding 254,000 jobs in September. For the same month, private payrolls probably climbed 90,000 jobs, after adding 223,000 jobs in September. Meanwhile, the unemployment rate is expected to have remained unchanged at 4.1% in October. Separately, the Institute for Supply Management (ISM) is expected to report that the country's manufacturing PMI likely edged up to 47.6 in October from 47.2 in the prior month. Also, S&P Global manufacturing PMI data for October is due.
U.S. oil giant Exxon Mobil is set to report third-quarter results that include its first full quarter of earnings from its $60 billion purchase of shale producer Pioneer Natural Resources. Exxon earlier flagged a year-on-year earnings decline on lower oil prices and weaker refining margins, similar to the quarterly profit drops posted by BP and TotalEnergies this week. Wall Street analysts will be listening for what Exxon says about ramping up its production next year given concerns about slowing global oil demand and its outlook for refining margins.
Chevron is set to report third-quarter earnings before the bell, where investors will focus on impact of commodity price volatility, production outlook and updates on its ongoing tussle with Exxon over Hess' Guyana assets.
Federal Reserve Bank of Dallas President Lorie Logan is expected to give a welcome address before the Women in Central Banking Workshop sponsored by the Federal Reserve Bank of Dallas. (0945/1345)
IQVIA Holdings is set to report its third-quarter earnings. Investors are looking for any changes to its full-year earnings forecast.
Trojan condom maker Church & Dwight is expected to post a rise in third-quarter revenue due to demand for its household and personal care products. Investors will look out for comments on pricing strategies, plans for margin expansion and growth avenues.
Charter Communications is expected to report a rise in revenue in the third quarter helped by strong advertising sales.
U.S. utility firm Dominion Energy is expected to report a rise in third-quarter profit, driven by higher demand for power. Investors will be on the lookout for commentary on potential agreements with data center operators and updates on its recently announced nuclear reactor deal with tech giant Amazon.
On the Canadian front, the S&P Global manufacturing PMI for October is set for release.
Air Canada is expected to report lower third-quarter profits, compared with the same three months a year earlier, due to lower yields and higher costs following a recent deal with pilots.
In Latin America, Brazil's statistics agency IBGE is expected to release the industrial production data, which likely rose 0.9% in September after gaining 0.1% in August. Annually, it grew 2.8% in September following a 2.2% rise in the previous period.
Reporting by Indrishka Bose; Editing by Vijay Kishore
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