The United States (US) economy will be evaluated by investors this week as there are important data and major corporate earnings reports that will have an impact on the market.
Key economic indicators, including the Q3 GDP report, the Personal Consumption Expenditure (PCE) price index and the US jobs report, are due to be released.
The health of the economy and potential inflationary trends are assessed based on the indicators, especially as the Federal Reserve (Fed) aims to balance growth without triggering high inflation.
In addition, the focus will be on third quarter earnings reports from five leading tech giants such as Apple, Microsoft, Alphabet, Amazon and Meta Platforms.
The financial performance of the "Magnificent Seven" companies is expected to influence market sentiment, given their dominance in the technology sector.
Well-known companies such as Ford, Starbucks, Pfizer and Exxon Mobil will also announce earnings, giving investors a broad view of corporate health.
This week will be an important week for the US market causing investors to more carefully examine indicators of growth stability, inflationary pressures and the Fed's potential response to their monetary policy setting.
