Autos, Honda and Ferrari Drive a Busy Week

Tomorrow's calendar is light on confirmed US earnings, but Loews reports Sunday. The heavy action arrives mid-week. Ferrari posts results on Tuesday. Austrian car registration data, which leads Ferrari revenue by 22 days, is running 75% below the same quarter last year, a weak signal for the print.

Honda Motor reports Thursday. Japanese car registrations, a dataset with a strong lead on Honda revenue, are running 10% below last year's level through three months of the quarter. India's October car registrations hit a record low of 85,038, the smallest October on record since 2017, adding pressure across the sector.

Polestar also reports Thursday. Dutch car data, which has a strong 60-day lead on Polestar revenue, is running 37% below last year. German registrations, another strong-fit indicator, point the other way, up 32%.

Renault rounds out the auto cluster on Wednesday. Its Dutch car indicator is down 19% year-on-year.

On the index front, the MSCI World November review announces on 11 November. Xero sits just 2.3% above the exit line at a $7.5B market cap. ORTEX Index Rebalance Radar puts the deletion probability at 52%. Forced selling on Xero alone could reach $522M, equal to 12.5 days of normal volume.

No IPOs are scheduled in the next seven days.