Three Things to Know & Watch

Oct 31, 2022

By Bill Hornbarger, Chief Investment Officer

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Three Things to Watch

  • This is the busiest week of the earnings season with approximately one third of the members of the S&P 500 reporting this week. Familiar names out with earnings this week include Pfizer, Starbucks, AMD, Eli Lilly, and Uber. With a little over half of the S&P 500 already reporting, 71% have posted positive earnings surprises per Bloomberg.
  • The Federal Open Market Committee has a two-day meeting this week with Fed Chairman Jerome Powell hosting a press conference Wednesday afternoon after the interest rate decision is announced. The Fed is widely expected to increase rates 75 basis points for the fourth consecutive meeting.
  • Important economic data will be released this week from the ISM manufacturing survey Tuesday and the October employment report on Friday. The manufacturing survey is expected to decelerate slightly to 50, which would be the softest reading since the pandemic started (a reading below 50 indicates contraction while a reading above 50 indicates expansion in the manufacturing sector). Non-farm payroll gains are expected to dip to 190,000 with the unemployment rate expected at 3.6%, slightly higher than September’s 3.5%.

Three Things to Know

  • Using data from 12 different surveys, the best and worst ranked Halloween candies are Reese’s Peanut Butter Cups and candy corn, respectively. (Source: Candy
  • The mask that Michael Myers wears in the movie “Halloween” is a modified Captain Kirk mask from the TV series “Star Trek.” (Source: Yahoo News)
  • With one day left in the month, the stock averages are poised to post their first monthly gain since June and the Dow is set to record its best monthly gain since January 1976. (Source: CNBC)


The above information reflects the current opinion of the author. It is based upon sources and data believed to be accurate and reliable. Opinions and forward-looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security mentioned.