Key facts
- US midterm elections on Tuesday could affect AI regulation and fiscal spending.
- Alphabet's disappointing results and cash burn raised concerns about AI investment financing.
- Apple, AMD, Qualcomm and Palantir are among tech companies reporting earnings this week.
- The October jobs report on Friday will be a key indicator for the US economy and Fed policy.
- The US economy grew at its fastest pace in a year in the third quarter.
- The Federal Reserve held interest rates steady and upgraded its economic assessment.
Investors face a pivotal week with US midterm elections, a wave of corporate earnings, and crucial economic data. The market's focus remains on the AI trade, which has faced recent turbulence following Alphabet's disappointing results and significant cash burn. The upcoming earnings reports from tech giants like Apple, AMD, Qualcomm, and Palantir will be closely watched for further insights into AI investment sustainability. The midterm elections on Tuesday could shape the regulatory landscape for AI and data centers, with a Democratic sweep potentially leading to increased scrutiny. The monthly jobs report on Friday will provide a critical assessment of the US economy's health and influence the Federal Reserve's monetary policy decisions. The Federal Reserve recently held interest rates steady and upgraded its economic outlook, but concerns about job growth persist.