Americas

In the US, voters will head to the polls on November 3 for the midterm elections, which will determine control of Congress and shape President Donald Trump’s ability to advance his policy agenda. All 435 seats in the House of Representatives and 35 of the Senate’s 100 seats will be contested.  Democrats are widely predicted to win the ?House of Representatives, but the Senate is more in doubt. Republicans controlled both chambers of Congress during the first two years of the Trump administration. Meanwhile, several Federal Reserve policymakers are scheduled to speak, with investors looking for clues on the outlook for interest rates. The third-quarter earnings season will gather momentum, with results due from major companies including Apple, Palantir, Realty Income, AMD, Amgen, Pfizer, McDonald's, Qualcomm, Uber, ConocoPhillips and Berkshire Hathaway. On the economic front, the closely watched US jobs report will offer fresh insight into labor market conditions, while October’s ISM manufacturing and services surveys will provide an early gauge of business activity. Nonfarm payrolls are expected to have increased by 56,000, up from 29,000 in September, while the unemployment rate is forecast to hold steady at 4.2% and monthly wage growth to accelerate to 0.3% from 0.1%. Both ISM surveys are expected to signal continued economic momentum, despite persistent cost pressures. The preliminary November reading of the University of Michigan Consumer Sentiment Index is expected to point to a further deterioration in household confidence, while JOLTS job openings are forecast to edge up to 7.10 million in September from 7.08 million in August. Other releases to watch include factory orders, the ADP employment report, Challenger job cuts, international trade data, third-quarter labor productivity and costs and consumer credit. Finally, investors will also be closely watching the Treasury’s upcoming quarterly refunding announcement for further details on the government’s borrowing plans. Elsewhere in America, Canada’s employment and trade figures will be in focus, alongside the 2026 budget announcement. Other releases include business and consumer confidence in Mexico, industrial production and trade data in Brazil, regional PMI surveys and central banks monetary policy decisions in Brazil and Mexico.

US Capitol, Washington D.C.