The Week Ahead: AMD and Palantir Report Earnings as Government Shutdown Blocks Jobs Data

TLDR

• AMD, Qualcomm, Arm Holdings, and Palantir report earnings this week with focus on AI chip demand and software platforms
• Pharmaceutical companies Novo Nordisk, Pfizer, Amgen, and AstraZeneca face pressure from Trump administration to lower drug prices
• Government shutdown entering second month will delay October employment report for second consecutive month
• ADP private-sector employment report scheduled for Wednesday will provide only available jobs data for the week
• Gig economy companies Uber, DoorDash, and Airbnb report quarterly earnings this week

Advanced Micro Devices reports earnings on Tuesday. Investors want updates on the company’s October deal to supply AI chips to Oracle.

Qualcomm unveiled two new AI chips for data centers last week. The company reports earnings on Wednesday along with chip designer Arm Holdings.

Palantir reports earnings on Monday. The software company’s shares have more than doubled this year due to strong demand for its AI platforms.

Cloud network provider Arista Networks also releases results on Tuesday. Tech companies will likely command attention during this week’s earnings calendar.

Pharmaceutical Sector Under Pricing Pressure

Novo Nordisk reports earnings on Wednesday. President Donald Trump has pressured the company over Ozempic costs.

Trump said the weight loss treatment should cost around $150 per month. The drug currently costs more than $1,000 monthly.

Pfizer, Amgen, and AstraZeneca also report this week. Pharmaceutical firms have made deals to lower drug prices in response to Trump’s threat of hefty tariffs.

Several gig economy companies report earnings this week. Uber, DoorDash, and Airbnb will share quarterly results.

Employment Data Delayed Again

The Bureau of Labor Statistics’ October employment report faces another delay. The government shutdown is entering its second month.

This marks the second straight monthly jobs report delayed by the work stoppage. Data on factory orders, trade balance, and job openings will also be delayed.

The ADP private-sector employment report remains scheduled for Wednesday. This report will provide the only available jobs data for the week.

The ISM surveys on manufacturing and services sectors are scheduled. These surveys will give investors indications on employment and pricing trends.

The Fed’s consumer credit report and University of Michigan’s consumer sentiment survey are expected this week. ISM manufacturing data releases on Monday.

Federal Reserve officials will speak after the central bank cut interest rates last week. Philadelphia Fed President Anna Paulson speaks on Thursday.

St. Louis Fed President Alberto Musalem also speaks Thursday. New York Fed President John Williams speaks on Friday.

This represents the Fed’s second interest rate cut this year. Market watchers will analyze remarks for clues about future policy decisions.

Consumer sentiment data for November releases on Friday.

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