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Stock Market Today: Mixed Business as Investors Await Third Quarter Earnings Wave
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Stock Market Today: Mixed Business as Investors Await Third Quarter Earnings Wave

  • U.S. stocks were mixed on Monday as investors await third-quarter results from major companies.
  • Investors will be watching retail sales and jobless claims data this week.
  • Federal Reserve Governors Christopher Waller and Adriana Kugler are scheduled to speak this week.

U.S. stocks were mixed on Monday as investors await a wave of third-quarter earnings results this week.

More than 40 S&P 500 companies will report results this week, including Netflix, Morgan Stanley and Goldman Sachs.

According to Fundstrat, 6% of S&P 500 companies have already reported their results. Of these companies, 74% beat earnings estimates by an average of 6%, while 58% beat revenue estimates by an average of 2%.

It’s a relatively muted week on the economic data front, with investors likely to focus on the September retail sales release and initial jobless claims on Thursday.

Both data points will provide investors with insight into the health of the consumer and labor markets, respectively.

There are also a few Fedspeaks this week, with Federal Reserve Governor Christopher Waller scheduled to give a speech today at 3 p.m., followed by Fed Governor Adriana Kugler on Tuesday.

Here’s where the US indices stood shortly after the opening bell at 9:30 a.m. Monday:

Here’s what else is going on:

For commodities, bonds and crypto:

  • West Texas Intermediate crude fell 1.93% to $74.10 a barrel. Brent crude, the international benchmark, fell 1.81% to $77.61 a barrel.
  • Gold fell 0.41% to $2,665.20 an ounce.
  • The 10-year Treasury yield was unchanged at 4.105%.
  • Bitcoin rose 2.96% to $64,715.