Wall Street’s attention in the week ahead will largely be fixed on a scheduled address from the Federal Reserve Chair, Jerome Powell, alongside the onset of the third quarter earnings season.
Economic data, typically a key driver, will take a backseat due to ongoing delays caused by the US government shutdown.
Mr Powell is due to deliver a speech at a banking conference in Washington, D.C., on Thursday.
Investors will also be listening to several other prominent Fed policymakers, including Vice Chair for Supervision Michelle Bowman and Governor Stephen Miran, throughout the week.
The earnings calendar will see financial results from America’s largest airline, Delta Air Lines, and the world’s third-biggest soft drinks firm, PepsiCo, among other companies.
Economic Calendar
On October 7 (Tuesday), separate reports on US trade deficit and consumer credit for August will be released.
On October 8 (Wednesday), minutes of the US Federal Reserve’s September FOMC meeting will be released.
On October 9 (Thursday), Federal Reserve Chair Jerome Powell will deliver opening remarks at a banking conference in Washington, D.C. A report on initial jobless claims for the week ended October 4 will be released.
On October 10 (Friday), separate reports on consumer sentiment (prelim) for October and monthly US federal budget for September will be released.
Earnings
Following companies are due to report third quarter results in the week ahead — Constellation Brands, Aehr Test Systems, McCormick & Company, Saratoga Investment Corp, Richardson Electronics, PepsiCo, Delta Air Lines, Levi Strauss, and Tilray.
Markets Last Week
US stocks ticked higher on Friday, sending Wall Street to more records.
The Dow Jones Industrial Average rose 238.56 points, or 0.51%, to 46,758.28, the S&P 500 gained 0.44 points, or 0.01%, to 6,715.79 and the Nasdaq Composite lost 63.54 points, or 0.28%, to 22,780.51.
For the week, the Dow gained 1.1%, the S&P 500 also climbed 1.1% and the Nasdaq rose 1.3%.
In the bond market, the yield on the 10-year Treasury rose to 4.12% from 4.10% late on Thursday.
