Markets: Midterms and AI Earnings Converge

Bull Theory flagged a week of clustered risks for global equities, with U.S. midterm elections, ADP and nonfarm payrolls, Bank of England and Australia rate decisions, plus earnings from Apple, Palantir, AMD, Arm, Qualcomm and Datadog all landing inside five days. Markets already price an 80 percent chance of another Fed hike in December, and a weak 60K jobs print could revive recession fears while stronger inflation data would complicate any easing path. The elections also carry direct implications for AI policy just as semiconductor names report, echoing the sector volatility seen after prior midterm cycles and policy shifts.