Over the next 10 days, a series of major events will be intensively unfolding. Will the market enter a roller coaster mode?

This Wednesday, the US Department of the Treasury will announce the quarterly refinancing plan for US bonds, and on Thursday and Friday, the September PCE price index and the October non-farm payroll report will be released in the USA. At the same time, the US stock market earnings season is entering its peak, with the seven giants "Mag 7" in focus. $Alphabet-A (GOOGL.US)$Please use your Futubull account to access the feature.$Microsoft (MSFT.US)$Please use your Futubull account to access the feature.$Apple (AAPL.US)$Please use your Futubull account to access the feature.$Meta Platforms (META.US)$ and $Amazon (AMZN.US)$ The third quarter report will be released this week.

Next week, the market will also welcome the U.S. presidential election and the Federal Reserve interest rate decision, with the Federal Reserve currently in a quiet period before the monetary policy meeting.

A series of major events coming in quick succession are likely to impact the U.S. stock market and even the global market. Analyst Cameron Crise warned that the market needs to prepare for potential significant volatility.

Whether you focus on the macro or micro, it's best to hold on tight this week. Five out of the seven U.S. tech giants will announce their earnings from Tuesday to Thursday, along with Eli Lilly and Co., meaning that six out of the top 10 companies in the S&P index will release market-affecting news. Coupled with the PCE and non-farm data, this could be a potential significant volatility.

So far this year, just five large tech companies, nvidia, Apple, Meta, microsoft, and Amazon, have contributed approximately 46% of the S&P 500 index's gains. The current concentration in the U.S. stock market is unprecedented. The earnings data of major tech stocks this week will influence the overall market sentiment before the U.S. election.

For the Federal Reserve's favorite inflation indicators - PCE price index and the October non-farm employment report, they could be key to influencing the Federal Reserve's November interest rate decision. Against a backdrop of cooling U.S. inflation, several Federal Reserve officials have recently emphasized that the health of the U.S. labor force will be a focal point of attention.

According to the Fedwatch tool, the probability of the Fed cutting interest rates by 25 basis points on November 7 has risen to 96%, while the probability of staying put is 3.7%.

The current market's expectations of a Fed rate cut are weakening, with massive selling of US bonds recently. The next 10 days are crucial for the US bond market. The US Department of the Treasury announced on Wednesday the size of the upcoming bond issuance, with the market expecting the department to maintain a stable bond auction size in the next quarter.

The US presidential election has also added uncertainty to the US bond market. Some investors speculate that if Trump wins, it will push up US bond yields. His tax and tariff policies will intensify inflationary pressures and keep interest rates high.

Currently, expectations of Trump winning the election are increasing. According to recent forecasts by The Economist in the United Kingdom, Trump is expected to win 276 electoral votes next month, while US Vice President and Democratic candidate Harris is projected to win 262. The probability of a Trump victory is estimated at 54%.

Sinead Colton Grant, Chief Investment Officer at New York Wealth Bank, said: "This is a very important period, and a lot of things may happen in the next two weeks."

Editor/Somer