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Welcome to your new week.
And welcome to the month of November! Before you know it — the holidays will be here. Now is the time to remain focused on the markets and have a plan for your portfolio!
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Let’s dive in to everything you need to know this week.
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Key Earnings Announcements:
Earnings roll on with AMD, Hims & Hers, Novo Nordisk, Palantir, Robinhood, and more.
Monday (11/3): Axsome, Berkshire Hathaway, BioNTech, Bruker, BWX Technologies, Cipher Mining, FuboTV, Freshpet, Hims & Hers, IDEXX Laboratories, Navitas, Onsemi, Palantir, Sarepta Therapeutics, The Clorox Company
Tuesday (11/4): Arista, Astera Labs, Beyond Meat, Bloom Energy, BP, Diamondback Energy, Enphase, Marathon Oil, Norwegian Cruise Line, Pfizer, Pinterest, Shopify, Spotify, Supermicro, Texas Roadhouse, Uber, Upstart, Vital Farms, Wayfair
Wednesday (11/5): AMC, Applovin, Arm Holdings, Brinks, Cameco, Dutch Bros, e.l.f. Beauty, Figma, Humana, IonQ, Kinross Gold, McDonald’s, Novo Nordisk, Qualcomm, Recursion, Robinhood, Snap, Sportradar, Unity
Thursday (11/6): Airbnb, Archer, AstraZeneca, BCE, Comcast, ConocoPhillips, Datadog, DraftKings, Iris Energy, Moderna, NuScale, Oscar Health, SoundHound, The Trade Desk, Warner Bros. Discovery, Western Digital
Friday (11/7): 1stDibs, Brookfield Asset Management, Canopy Growth, Constellation Energy, Duke Energy, Fluor, Holley, Six Flags
What We’re Watching:
Advanced Micro Devices (AMD)
Source: AMD Earnings Deck
Advanced Micro Devices (+64% YTD) reports Q3 FY2025 earnings Tuesday after the close, with investors closely watching whether the chipmaker’s AI-hardware ramp and data-center momentum can translate into sustained margin gains amid export controls and supply-chain headwinds.
In Q2, AMD delivered $7.7 billion in revenue (+32% YoY), still its highest quarterly topline ever, but profit came under pressure due to an $800 million write-down tied to export restrictions on its MI308 accelerator. Looking ahead, AMD guided Q3 revenue at ~$8.7 billion, representing about +28% YoY growth and a non-GAAP gross margin of approximately 54%.
Heading into the print, I’ll be focused on whether the company can convert its strong top-line guidance into operational leverage and margin stability, how its MI350 series and client-CPU share gains are tracking, and how the China trade/export issue might continue to cloud near-term results.
“We are seeing robust demand across our computing and AI-product portfolio and are well-positioned to deliver significant growth in the second half of the year.”
Advanced Micro Devices (AMD) Stock Performance, 5-Year Chart, Seeking Alpha
Palantir (PLTR)
Source: Palantir Earnings Deck
Palantir Technologies (+165% YTD) reports Q3 FY2025 earnings Monday after the close, and investors will be digging into whether its AI-software platform and government contracts can keep delivering against a tough valuation and heightened investor expectations.
In Q2, Palantir posted revenue of roughly $1.0 billion (+48% YoY), marking its first $1 billion quarter and leading the company to raise its full-year 2025 revenue guidance to $4.15 billion, citing “the astonishing impact of AI leverage,” according to CEO Alex Karp.
Heading into the release, I’ll be watching to see if Palantir can show further commercial-segment acceleration (beyond government business), provide clarity on large contract pipelines and recurring revenue growth, and address how it plans to convert scale into profitability amid rising R&D and sales spend.
“As usual, I’ve been cautioned to be a little modest about our bombastic numbers, but there’s no authentic way to be anything but having enormous pride and gratefulness about these extraordinary numbers.”
Palantir (PLTR) Stock Performance, 5-Year Chart, Seeking Alpha
Investor Events / Global Affairs:
Government shutdown nears historic length, Pfizer faces Tuesday deadline to counter Novo Nordisk’s Metsera bid, Tesla shareholder meeting puts $1 trillion pay package to a vote
Government Shutdown Nears Historic Length
Source: Associated Press
The U.S. government shutdown is on track to become the longest in American history if it continues through Tuesday night, surpassing the 35-day record set in 2018–2019. The ongoing standoff has now left Wall Street without official economic data for a full month, complicating forecasts and policy decisions across markets. Polymarket bettors see the shutdown ending around November 28 (Black Friday), while Kalshi assigns a 26% chance it lasts more than 55 days, 19% beyond 60 days, and 16% beyond 65 days.
Fed Chair Jerome Powell warned the situation could hinder the central bank’s ability to make informed decisions, saying that operating without key data is like “driving in a fog.” Markets are increasingly concerned that if the shutdown drags on, it could delay a December rate cut and weigh on year-end economic momentum.
“We will only have policy conversations once Democrats stop holding the American people hostage and reopen the government.”
“I just want to be on a path so that people’s bills don’t spike, and I want the president to agree, stop the wrecking ball… If the president engages, we will find a deal I think within hours.”
Pfizer (PFE) Faces Tuesday Deadline to Counter Novo Nordisk’s (NVO) Metsera Bid
Source: The Associated Press
Pfizer has until Tuesday to decide whether it will match or raise Novo Nordisk’s offer for Metsera, the biotech firm developing next-generation metabolic and obesity therapies. Novo’s $9B bid positions it to strengthen its dominance in the weight-loss drug market, while Pfizer — seeking to reinvigorate growth after pandemic-era declines – is weighing whether to re-enter the competitive obesity race through acquisition.
The potential bidding war underscores how metabolic health and obesity treatments have become one of the most sought-after frontiers in pharma, with both companies racing to secure leading pipelines ahead of expected multi-hundred-billion-dollar market expansion.
Pfizer (PFE) Stock Performance, 5-Year Chart, Seeking Alpha
“Metsera could be a transformative asset for whoever wins – this is the next major chapter in the metabolic drug race.”
Tesla (TSLA) Shareholder Meeting Puts $1 Trillion Pay Package to a Vote
Tesla (+13% YTD) will hold its highly anticipated shareholder meeting this week at Gigafactory Texas, where investors will vote on Elon Musk’s proposed $1 trillion compensation plan. The meeting is set to shape the company’s strategic direction for the coming decade, testing shareholder confidence in Musk’s leadership amid intensifying competition.
Beyond the pay package, Tesla is expected to provide updates on key initiatives including the robotaxi network pilot, the Cybercab program, the Tesla Semi production ramp, and progress on next-generation Gen 3 Cybercell battery manufacturing. Investors will be watching for clarity on capital allocation, production timelines, and AI integration as Tesla continues its push to position itself at the forefront of autonomous mobility and clean-energy innovation.
Tesla, Inc. (TSLA) Stock Performance, 5-Year Chart, Seeking Alpha
“The fundamental question for shareholders at this year's Annual Meeting is simple: Do you want to retain Elon as Tesla's CEO and motivate him to drive Tesla to become the leading provider of autonomous solutions and the most valuable company in the world?”
Major Economic Events:
The ongoing government shutdown continues to impact economic data.
Monday (11/3): Durable Goods Minus Transportation, Durable Goods Orders
Tuesday (11/4): Consumer Confidence, S&P Case-Shiller Home Price Index (20 Cities)
Wednesday (11/5): Advanced Retail Inventories, Advanced U.S. Trade Balance in Goods, Advanced Wholesale Inventories, Fed Chair Powell Press Conference, FOMC Interest-Rate Decision, Pending Home Sales
Thursday (11/6): Fed Vice Chair for Supervision Michelle Bowman Speaks, GDP, Initial Jobless Claims
Friday (11/7): Chicago Business Barometer (PMI), Cleveland Fed President Hammack and Atlanta Fed President Bostic Speak, Consumer Spending, Core PCE Index, Core PCE Year Over Year, Dallas Fed President Lorie Logan Welcoming Remarks, Employment Cost Index, PCE Index, PCE Year Over Year, Personal Income
What We’re Watching:
Initial Jobless Claims
Initial jobless claims fell by 14,000 to 218,000 in the third week of September, marking the lowest level in two months and defying expectations for a rebound to 235,000. The data suggests that the labor market remains resilient despite recent signs of slowing job growth and ongoing economic uncertainty.
Continuing claims also edged lower to 1.93 million, the lowest since late May, signaling that displaced workers are still finding employment relatively quickly. The report counters concerns of a sharp labor market deterioration that had contributed to the Fed’s decision to restart its rate-cutting cycle in September.
This data is still highly impacted by the ongoing government shutdown.
Economists expect the following this week:
Initial Jobless Claims: 218K vs. 232K prior
Continuing Claims: 1.93M vs. 1.96M prior
“The latest claims data show the job market is cooling gradually, not collapsing – a key sign that the Fed’s soft-landing scenario remains intact.”
Michigan Consumer Sentiment
The University of Michigan Consumer Sentiment Index was revised lower to 53.6 in October, down from 55.1 in September and marking the weakest reading since May. Both the Current Conditions index (58.6 vs. 61) and the Expectations gauge (50.3 vs. 51.2) slipped, reflecting persistent concerns over high prices and slowing economic momentum.
Inflation expectations for the year ahead eased slightly to 4.6% (from 4.7%), while the five-year outlook rose to 3.9% (from 3.7%), suggesting consumers remain wary of long-term price pressures. Despite the government shutdown, survey data showed little evidence that political uncertainty is affecting sentiment at this point.
Economists expect the following this week:
Michigan Consumer Sentiment (Final): 53.6 vs. 55.1 prior
1-Year Inflation Expectations: 4.6% vs. 4.7% prior
5-Year Inflation Expectations: 3.9% vs. 3.7% prior
“Inflation and high prices remain at the forefront of consumers’ minds, though there’s little sign that recent government tensions are shaping economic perceptions.”
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