The Dow just capped its most winning week since October 2022, while the S&P 500 and Nasdaq posted their best weeks since last November.
U.S. equity futures were slightly higher on Sunday evening after the major averages capped their best week so far this year.
All of the major averages were coming off their best weeks of the year so far, also striking a positive chord to begin November trading. The"Oversold conditions, solid earnings, hope for an end to the Federal Reserve's rate-hiking campaign, and a sizable pullback in interest rates have brought buyers back into the market," said LPL Financial's Adam Turnquist.will be light on economic data and company earnings, seasonal tailwinds could help further the recovery in stocks.
Earnings season is winding down, with 400 S&P 500 companies having already reported their quarterly financial results. Investors this week are still looking forward to updates this week from Walt Disney, Wynn and MGM Resorts, Occidental Petroleum and D.R. Horton.Meanwhile, traders will also be watching Federal Reserve Chair Jerome Powell, who is scheduled to speak twice in the coming days.
"If you look at the totality of the data that has come in over the last several weeks, you see an overall very strong picture," Bharat Ramamurti, former deputy director of the National Economic Council, told CNBC's"Closing Bell: Overtime" on Friday."I would be surprised if the Fed was going to raise rates again this year and this may well be the top of the hiking cycle.
Fed Governor Lisa D. Cook is scheduled to speak on Monday. Several other Fed officials are making public remarks later in the week as well, including New York Federal Reserve President and CEO John Williams, Atlanta Federal Reserve President Raphael Bostic, Richmond Federal Reserve President Thomas Barkin and Dallas Fed President Lorie Logan.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Charles Schwab’s Rocky Year in Five ChartsBrokerage is among worst-performing financial stocks in the S&P 500 in 2023
Read more »
Meet the 2023 Little Miss and Miss National Peanut Festival 2023The National Peanut Festival Queens talk about their hometown, their favorite activities to do with their friends and families, and a game of “This or That? National Peanut Festival Edition.”
Read more »
How to Combine the Power of Fundamental With Technical Analysis to Pick WinnersStocks Analysis by Investing.com (Calogero Selvaggio) covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, Apple Inc. Read Investing.com (Calogero Selvaggio)'s latest article on Investing.com
Read more »
More than 500 migrants rescued off Spain's Canary IslandsMore than 500 migrants were rescued in the Atlantic Ocean off Spain's Canary Islands, the Spanish coastguard said on Saturday, as the number of people arriving on the archipelago so far this year neared an all-time record posted in 2006.
Read more »
After being frozen for 500 years, face of the ‘Ice Maiden’ revealedThe snow-capped Andes in South America have long fascinated humans with their soaring peaks and alien landscapes.
Read more »