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Midterm Elections and Fed Meets on QE2: Advisor Briefing for the Week of November 1, 2010

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November 1, 2010 • Reprints

There are two big news events this week—the midterm elections on Tuesday and the FOMC meeting that concludes Wednesday—but it’s unclear if the markets have already priced in a Republican election victory and the Fed deciding to embrace a relatively modest QE2.

Greg Valliere, Liz Ann Sonders and Condoleezza Rice all spoke about politics and the markets last week during the Schwab Impact 2010 conference in Boston. We also see the tail end of earnings season, and interest rate decisions by the European Central Bank and the Bank of England.

Monday, Nov. 1 brought the release by the Institute for Supply Management (ISM) of its October manufacturing index, which showed a continued uptick in manufacturing. Reports are also due on personal income and spending as well as construction spending for September. Principal Financial will release quarterly results after the market closes on Monday.

Tuesday, Nov. 2 is midterm Election Day across the nation. Among firms announcing quarterly earnings is NYSE Euronext and The Hartford in the morning, while the Federal Open Market Committee (FOMC) begins the first of two days of meetings. The WTO and the World Bank will conduct a public seminar on the effects of the Doha round of trade talks.

Wednesday, Nov. 3 brings the expected FOMC announcement that it will begin another round of quantitative easing, and automakers will announce their sales for October, while factory orders for September are announced. Prudential Financial is slated to announce its third quarter results. Space shuttle Discovery is scheduled for launch on its final mission.

On Thursday, Nov. 4, the European Central Bank and the Bank of England will announce interest rate decisions, while at home retailers announce same-store sales for October. The government will announce its weekly new unemployment claims and third-quarter productivity.

Friday, Nov. 5 brings the October jobs report from the Labor Dept. at 8:30 a.m. Eastern time. Other economic reports will be released on pending home sales from the National Association of Realtors and consumer credit for September from the Federal Reserve, while an SEC and CFTC joint committee will meet to discuss findings of its May 6 flash crash report.

About the Author
James J. Green, AdvisorOne

James J. Green, AdvisorOne

Jamie Green is Group Editorial Director of the Investment Advisory Group at Summit Business Media, with overall editorial responsibility for AdvisorOne.com, launched in October 2010, and Investment Advisor and Research magazines, monthly print magazines which have served advisors of all kinds for more than 30 years. He can be reached at jgreen@sbmedia.com

He has nearly 30 years experience in print and electronic journalism, with nearly 14 years covering the investment advisory industry. In the 1980s he was editor of Tele/Scope, a pioneering electronic news service based in New York that covered telecommunications business and research, and was editor of Telecommunications Research, a monthly journal. In the 1990s he worked for nine years at The New York Times, where he was editor of TimesFax, an electronic version of the newspaper of record now known as TimesDigest. While at The Times, he led the editorial team that expanded distribution of TimesFax to remote corners of every continent on Earth, to every ship in the U.S. Navy, to scores of cruise ships, and to the international space station.

He joined what was then Dow Jones Investment Advisor in 1999 as managing editor, was appointed Executive Editor of Investment Advisor magazine in 2000, Editor in 2002, Editor-in-Chief in 2005, and Editorial Director of Investment Advisor and Wealth Manager in 2008 before assuming his current position in 2009.

He holds a bachelor's degree in philosophy from St. Hyacinth College in Granby, Mass., and studied theology on the graduate level at St. Anthony-on-the-Hudson, Rensselaer, N.Y.

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