A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023.
Markets will look for more clarity on the Fed's intentions from officials speaking later in the week, including Chair Jerome Powell, and voting members such as New York Fed chief John Williams and Dallas Fed President Lorie Logan.
Expectations the Fed was likely done with rate hikes sent the S&P 500 up 5.85% last week and the Nasdaq up 6.61%, their biggest weekly jumps since November 2022.
A total of 403 companies in the S&P 500 have reported profits through Friday the third quarter, with 81.6% surpassing analyst estimates, per LSEG data.
The S&P 500 posted nine new 52-week highs and no new lows while the Nasdaq recorded 43 new highs and 99 new lows.
Persons:
Brendan McDermid, CME's, Jerome Powell, John Williams, Lorie Logan, Stephen Massocca, Walt Disney, Erik Carlson, Whitney Wolfe, Chuck Mikolajczak, Richard Chang
Organizations:
New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, New York Fed, Dallas Fed, Wedbush Securities, University of, Dow Jones, Dish Network, NYSE, Thomson
Locations:
New York City, U.S, New, San Francisco