Big Tech and Auto Giants Dominate This Week

Microsoft and Alphabet both report today after the close, making Wednesday one of the busiest earnings days of the quarter. Microsoft carries a $3.96 trillion market cap into its print. Alphabet follows at $1.86 trillion.

Tomorrow brings two more giants. Amazon and Intel report on Thursday after the bell. Intel's result lands at a critical moment for the chipmaker's ongoing turnaround. Also Thursday: Bristol-Myers Squibb holds its earnings call and BorgWarner reports from the auto-supply chain.

European carmakers take the spotlight in parallel. Mercedes-Benz reports today. Dutch car registration data, a leading indicator for the group's revenue, is running 6% below the same quarter last year through all three months. Volkswagen follows on Thursday. Austrian registrations, which lead its revenue, are also down 6% year-on-year. Renault reports Thursday too, where Dutch registration data points 19% lower year-on-year.

Sunday closes the week with two more marquee names. Apple releases results on Sunday, carrying a $5 trillion market cap. Amgen also reports that day.

Also worth watching: Ferrari reports Monday 3 November. Austrian registration data, a leading indicator for its revenue, is running 75% below the same quarter last year, though the fit is described as weak.

No IPOs are confirmed in the pipeline this week. The Russell 2000 rank date falls on 30 October, with Life Time Group Holdings sitting on the exact boundary between the Russell 1000 and Russell 2000, with $937 million of forced selling or $346 million of buying hanging on where it closes.