As the curtain rises on a week of major event risks, the focus for investors on Tuesday (October 29) was undoubtedly on financial reports, with most of the market remaining in a wait-and-see mode.

Five technology giants, known as the "Big Seven," will release their financial reports in the next three days, driving Wall Street stocks to new highs this year. Later on Tuesday, Google's parent company Alphabet will be the first to release its financial report, followed closely by Meta and Microsoft on Wednesday, and Amazon and Apple on Thursday.

Last week, Tesla set the tone for the earnings season, with its bold sales forecasts driving a 22% surge in stock price, marking the biggest increase in a decade. However, analysts remain cautious about Elon Musk's overcommitment.

NVIDIA, a leading AI company, has been vying with Apple for the title of most valuable company, but its financial report will not be released until late November. In the AI theme, the earnings reports of chip makers over the next few days will show the continued strength of the AI boom. AMD will release its financial report on Tuesday, while Intel will do so on Thursday.

In Europe, the focus is on the banking sector, as HSBC announces an additional $3 billion share buyback plan, reporting a profit increase of 10% above expectations. Last week, the bank was in the news spotlight due to a major restructuring and streamlining of its executive board. Banco Santander will also release its financial report on Tuesday, but its UK branch has delayed publication to assess the impact of a court ruling on car finance commissions. UBS Group will release its financial report on Wednesday.

Although the banking industry has been at its healthiest since the global financial crisis, investors want to ensure the credibility of long-term returns, particularly with the European Central Bank leading the way in interest rate cuts among major central banks worldwide.

In contrast, the Federal Reserve can act calmly on policy relaxation due to strong economic data, especially employment data. The labor market has become a focal point for the Federal Reserve, so the dollar and bond yields took a breather near three-month highs ahead of today's release of JOLTS job vacancy data (a key labor market measure favored by the central bank).

Friday will bring the release of crucial monthly data.non-farm payroll dataThis will set the foundation for the policy decision on November 7. The Federal Reserve officials in the blackout period will not give any hints.

The U.S. presidential election on November 5 is considered the most important risk event in the global market this year. Opinion polls show a neck-and-neck race between the two sides, but market trends and some betting platforms indicate an increasing probability of a Republican victory.

This election uncertainty has already had an impact on businesses, as can be seen from the latest manufacturing report from the Dallas Fed. One point in the report states: "Our own election results cannot be announced early, and some significant potential trades are being put on hold because of the uncertain election results."

Key developments that may influence the market on Tuesday:

HSBC and Banco Santander's financial reports in Europe

Alphabet and AMD financial reports in the USA

U.S. JOLTS Job Openings (September) and Consumer Confidence Index (October)