Flight cuts, consumer sentiment, Miran speech: What to Watch

Market Domination Overtime host Josh Lipton takes a look at the top stories for investors to watch on Friday, Nov. 7.

The Federal Aviation Administration (FAA) announced a 10% decrease in air traffic, going into effect on Friday at 40 major airports.

More commentary is coming from several Federal Reserve officials, including New York Fed President John Williams and Fed Governor Stephen Miran.

Constellation Energy (CEG), Enbridge (ENB), and Duke Energy (DUK) will report quarterly results in the morning.

The University of Michigan's preliminary November consumer sentiment reading will be posted in the morning.

To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime.

Video Transcript

00:00 Speaker A

Time now for to watch Friday, November 7th. We're going to start off here with air travel.

00:05 Speaker A

The Federal Aviation Administration cutting air traffic by 10% across 40 major US airports on Friday.

00:13 Speaker A

That will include New York, Chicago, Los Angeles and Atlanta at the government shutdown strains staffing.

00:19 Speaker A

Some air traffic controllers have been working unpaid and calling out, forcing the FAA to reduce flights to maintain safety.

00:26 Speaker A

The cuts could mean thousands of cancellations and travel disruptions nationwide ahead of that holiday travel season.

00:32 Speaker A

Moving over to the Federal Reserve, more Fed commentary coming in on Friday from multiple Fed officials.

00:38 Speaker A

This is coming after comments from Cleveland Fed President Beth Hamock on Thursday.

00:41 Speaker A

Hamock saying that she estimates inflation won't reach the Fed's 2% target for another two to three years.

00:48 Speaker A

Take a look at earnings as well. We're going to be getting reports from the energy sector on Friday. That will include Constellation, Enbridge and Duke.

00:54 Speaker A

Constellation Energy is announce results for the third quarter. Analysts expecting the Q3 earnings call to be focused on regulatory changes in the PJM power market.

01:03 Speaker A

That's a large regional electricity grid and new nuclear power deals.

01:06 Speaker A

And finally, fresh consumer data coming in on Friday with consumer sentiment, economists forecasting that number to come in at 53 for the month of November.

01:14 Speaker A

That was a slight dip from a month earlier, signaling people are feeling a bit less optimistic about the economy.

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