Events to look out for in North America today include Tesla and Boeing earnings, the Bank of Canada’s interest rate decision and US existing home sales.
Tesla: Analysts expect the electric vehicle maker will report stronger revenue but slightly smaller profits for its third quarter. Investors will be keen to learn more about the timing of a cheaper electric vehicle and gain more insight into its full self-driving software and cybercab strategy.
Boeing: The troubled US aircraft manufacturer is forecast to report a revenue decreased in the three months to September, and a net loss of nearly $5bn as the company navigates a costly strike by its main labour union. Boeing last week announced plans to raise up to $25bn in new capital and agreed a $10bn credit facility to bolster its balance sheet.
Bank of Canada: Traders expect Canada’s central bank to make its fourth consecutive interest rate cut as its economy shows signs of weakness. Swaps markets predict a half-point cut to 3.75 per cent after three quarter-point cuts.
Other companies: NextEra Energy, AT&T, General Dynamics and GE Vernova will report earnings before the bell. Mattel is reporting after the market closes.
US existing home sales: Economists expect sales of existing homes in the US fell 2.5 per cent to an annualised rate of 4.86mn in September.
Fed Beige Book: The Federal Reserve will release its report on the current economic conditions of its 12 central bank districts.
US election: Vice-president Kamala Harris will participate in a CNN town hall. Donald Trump will campaign in Georgia.
