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Next week's macro outlook: Non-farm data returns, multiple Federal Reserve officials will speak intensively, everyone should be prepared for up and down fluctuations.

On November 15, according to Jinshi reports, as the sense of relief brought by the historic U.S. government shutdown gradually fades, coupled with a wave of economic data about to sweep the market and concerns about whether the Federal Reserve can successfully cut interest rates in December, Wall Street's cautious sentiment prevails this week. The upcoming return of U.S. economic data is likely to increase market volatility. Here are the key points that the market will focus on in the new week (all times in Beijing):

Tuesday 02:00: 2026 FOMC voting member and Minneapolis Fed President Kashkari hosts a fireside chat
Thursday 03:00: Federal Reserve releases minutes of the monetary policy meeting, FOMC permanent voting member and New York Fed President Williams speaks
Friday 02:40: 2025 FOMC voting member and Chicago Fed President Goolsbee speaks
Friday 05:30: 2026 FOMC voting member and Philadelphia Fed President Harker speaks on the economic outlook
Friday 20:30: FOMC permanent voting member and New York Fed President Williams speaks
Friday 22:00: 2026 FOMC voting member and Dallas Fed President Logan participates in a panel discussion at the "2025 Swiss National Bank and its Observers" event
The U.S. Bureau of Labor Statistics announced on Friday that it will release the highly anticipated September employment situation report next Thursday (November 20). This report was originally scheduled to be released on October 3. The agency also stated that it will release the inflation-adjusted real income data for September next Friday (November 21). In addition, NVIDIA is set to release its earnings report next Wednesday.

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