This week, five of the Magnificent Seven stocks are set to release earnings, amid mixed performance and a need for clarity on growth outlooks to justify high valuations. In the US, October non-farm payrolls are expected to show a moderation in job growth, influenced by temporary factors like hurricanes and strikes, while the Fed may proceed cautiously with rate cuts in response to recent economic surprises and inflation concerns. The S&P 500 remains close to its record high, with market participants awaiting key events, although sector performance has been affected by de-risking ahead of the US elections.
This week, five of the Magnificent Seven stocks are set to release earnings, amid mixed performance and high valuations. The upcoming US job report is expected to show a moderation in job growth, influenced by temporary factors like hurricanes and strikes, which may affect the Fed's policy outlook. The S&P 500 remains close to its record high, with market participants awaiting key risk events, while sector performance has been impacted by corporate earnings and de-risking ahead of the US elections.
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