The S&P 500 is expected to continue its decline due to rising bond yields.
The latest data from the PCE price index shows a year-over-year increase of 2.1% in September, in line with economists' expectations. This increase in inflation raises concerns about potential adjustments to monetary policy.
Weekly jobless claims reported a lower-than-expected figure of 216,000, indicating a resilient job market. The upcoming government employment data is eagerly anticipated by traders.
Major technology companies such as Apple, Amazon, and Microsoft are preparing to report their quarterly results. Analysts anticipate disappointing results from Apple, while Amazon's previous guidance indicated a downturn in retail. Microsoft reported a strong quarter but saw its stock decline. Meta Platforms experienced a decline in its stock price despite strong quarterly results.
Starbucks released quarterly results that aligned with prior warnings from its CEO.
Nextracker, a solar technology company, saw its shares surge following a better-than-expected earnings report.
Eaton, an industrial sector player, reported quarterly results that beat earnings expectations but slightly missed on revenue.
Linde, a leader in the industrial gases sector, faced a decline in its stock price following a reduction in its forecast.
Comcast announced it is exploring the separation of its cable networks business, which led to a rise in its shares.