What to Watch in the Day Ahead - Friday, November 7

On the U.S. economic calendar, the University of Michigan's preliminary consumer sentiment index for November is forecast to ease to 53.2 from 53.6 in the prior month. Additionally, the Federal Reserve's consumer credit data for September is expected to show an increase of $10.00 billion, following a gain of $0.36 billion in August.

Duke Energy will report its third-quarter results before the market opens. Analysts expect the company to report an adjusted profit of $1.75 per share for the quarter ended September 30.

Monster Beverage is expected to post a slight decline in third-quarter revenue, hurt by higher input costs. Investors will look out for comments on aluminum tariffs, price hikes and consumer demand patterns.

Canada's unemployment rate and trade balance number for October are set to be released. The employment change for October is forecast to show a decline of 2,500 jobs, following a gain of 60,400 jobs in the prior month. The unemployment rate is expected to remain unchanged at 7.1% in October.

On Latin American economic front, Brazil's IGP-DI inflation index for October is forecast to decline 0.22%, following a 0.36% increase in the prior month. Separately, Mexico's headline inflation for October is expected to rise 0.36%, compared with a 0.23% gain in September, while the 12-month inflation rate is forecast to ease to 3.56% from 3.76% in the previous month. Mexico's core inflation for October is expected to increase 0.28%, down from 0.33% in September. Additionally, Mexico's producer price index data for October is also scheduled for release.