This week, traders have a lot to do

By Jesse Cohen

Investing.com – With a highly anticipated Federal Reserve meeting, a slew of earnings reports and key U.S. economic data on the horizon, this week will be a busy one on Wall Street.

The Federal Reserve is widely expected to deliver its third rate cut in three meetings on Wednesday, but it is Federal Reserve Chairman Jerome Powell’s hints about future rate cuts that could prove to be the most important signal for markets.

Some analysts expect the US central bank to sound hawkish and signal that it does not intend to cut interest rates further in the coming months.

Meanwhile, earnings will continue to be the focus of investors’ attention, with some 145 companies reporting earnings this week.

Google-owned Alphabet (NASDAQ:GOOGL) shares fell 2% after analysts missed quarterly profit estimates, even though revenue growth beat expectations when the company reported results after the close of trading on Monday.

Next up will be Apple (NASDAQ:AAPL) and Facebook (NASDAQ:FB), which are scheduled to report earnings on Wednesday afternoon.

This week is also an important event on the economic calendar. The biggest event will be Friday, when the US will release the nonfarm payroll report for October.

Also available is key ISM data for the manufacturing sector, which is expected to show a decline in production activity for a third consecutive month.

To see more weekly comics from Investing.com, visit: http://www.investing.com/analysis/comics

— Reuters contributed to this report

Ukrainian PM wants new three-year deal with IMF

Pakistani traders strike over moves to raise taxes in line with IMF recommendations

China to ease restrictions on foreign investment, won’t force technology transfers: deputy minister