Wall Street Indexes Close Higher Ahead of Key Week

Here is a look at this week's New York stock market.

On October 5, the September ISM services PMI and the September S&P Global services PMI will be released.

On October 7, the FOMC minutes will be made public.

Last weekend, the three major U.S. stock indexes closed higher across the board.

The Nasdaq rose more than 1%, and the S&P 500 reclaimed the 7,700 level for the first time in five trading sessions.

As the New York stock market enters the fourth quarter, it is kicking off the third-quarter earnings season in earnest this week.

First, on Wednesday, the minutes from the September Federal Open Market Committee meeting will be released.

Due to the impact of recently sluggish September employment data, expectations for consecutive interest rate hikes have cooled somewhat.

The minutes are expected to offer insight into the Federal Reserve's future policy direction through the members' assessments of inflation and employment.

Next, on October 8, weekly initial jobless claims, which gauge corporate layoff trends, will be released, and on October 9, the University of Michigan will release its preliminary October consumer sentiment index to assess concerns over a slowdown in household spending.

On the corporate earnings front, apparel brand Levi's, snack giant PepsiCo, and Delta Air Lines will sequentially release their third-quarter scorecards, opening the curtain on the earnings season.

Amid a backdrop of historically strong seasonal trends and favorable earnings expectations, how quickly Treasury yields, which have surpassed 5%, stabilize is expected to be a key yardstick determining the sustainability of this week's stock market.

Tonight, the release of the U.S. September ISM services Purchasing Managers' Index will allow markets to check whether the service sector's expansion trend is continuing.
※ Please note: This article was translated by AI and may contain errors.