Stock Market Outlook

The stock market in New York is expected to experience a decline on Monday as lawmakers on Capitol Hill rush to pass a stopgap government funding bill before Friday's deadline.

• Dow Jones Industrial Average futures were down 46 points, or 0.1%, at 6:15 p.m. ET on Sunday.
• The S&P 500 futures and Nasdaq Composite futures also fell by 0.1%.

Temporary Funding Extension

To keep the government open until the first deadline in January and allow for negotiations on longer-term spending agreements, House GOP leadership unveiled a two-part temporary funding extension on Saturday. Failure to pass this patch could result in a government shutdown on November 17.

Notable Earnings

Several companies will be reporting earnings this week:

• Monday: Tower Semiconductor and Tyson Foods.
• Tuesday: Home Depot.
• Wednesday: Advance Auto Parts, Cisco Systems, Palo Alto Networks, Target, and TJX Cos.
• Thursday: Alibaba Group Holding, Applied Materials, Bath and Body Works, Gap, Macy's, Ross Stores, Walmart, Warner Music Group, and Williams-Sonoma.
• Friday: BJ's Wholesale Club.

Economic Events

Key economic events to watch this week:

• Tuesday: The Bureau of Labor Statistics will release the Consumer Price Index for October.
• Wednesday: President Joe Biden will meet with China's President Xi Jinping during the Asia-Pacific Economic Cooperation summit in San Francisco. Additionally, the Census Bureau will release retail sales for October, and the BLS will report the Producer Price Index.
• Thursday: The National Association of Home Builders will release its Housing Market Index for November, and the Labor Department will release initial unemployment benefits claims for the week ended November 11.
• Friday: The Census Bureau will report new residential statistics for October.

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