This week's macro outlook: US midterm elections and nonfarm payrolls in focus, US stocks brace for Apple and AMD earnings.

BlockBeats news, November 2 — During the week of November 2 to 8, global markets will see a series of major events. The U.S. midterm elections, earnings reports from Apple and AMD, and October nonfarm payrolls data will be the focus of market attention. In addition, interest rate decisions from the Bank of England and the Reserve Bank of Australia, the results of Israel's parliamentary election, and progress in trilateral negotiations among Russia, the U.S., and Ukraine are also worth watching.

On the tech stock front, Apple and AMD will release their latest earnings reports, serving as an important test after confidence in AI trading was hit. The market expects Apple's revenue at about $113 billion, and this will be the first earnings report since new CEO Ternus took office; the market expects AMD's revenue at about $13 billion, with attention on the progress of the Helios rack and MI450 chips. In addition, Qualcomm, Super Micro Computer, Coherent, Lumentum, and Berkshire Hathaway will also report results. Separately, reports say Marvell is in talks to acquire Lumentum, with an announcement possibly coming as soon as this week. Apple's test of integrating Alibaba's Qwen into Apple Intelligence is planned to open on November 4.

On the geopolitical front, the U.S. midterm elections on November 3 will elect all 435 House seats and 35 Senate seats, and the results will affect the room for advancing the Trump administration's fiscal, tariff, and industrial policies over the next two years. The final results of Israel's parliamentary election are expected to be announced on November 4, and trilateral negotiations among Russia, the U.S., and Ukraine are also planned to restart in Abu Dhabi this week.

On the macroeconomic data front, the U.S. October nonfarm payrolls report will be released. Previously, September nonfarm payrolls added only 29,000 jobs, and the market expects an increase of 65,000 in October. If the employment data is strong, it may further strengthen market expectations for a Federal Reserve rate hike in December and affect the dollar, U.S. Treasuries, and gold.