The Market Brief
Hey team. The market continues its consolidation phase as a slew of economic reports and high-profile earnings are set to introduce another round of volatility.
Let’s recap yesterday’s session and see what’s next!
Impact Snapshot
🟥 ADP Non-Farm Employment Change - 8:15am
🟥 U.S. Q3 GDP - 8:30am
Key Earnings: MSFT 0.00%↑ META 0.00%↑ HOOD 0.00%↑ COIN 0.00%↑
Macro Viewpoint
U.S. stock index futures climbed on Wednesday, boosted by strong quarterly results from Alphabet, which lifted sentiment around major tech stocks.
Data from Tuesday revealed that U.S. job openings fell to their lowest level in over three and a half years in September, prompting traders to raise expectations for a 25-basis-point rate cut at both the Federal Reserve’s November and December meetings.
With the Federal Reserve’s decision just a week away, investors are shifting their attention to three key U.S. reports expected to reveal underlying economic resilience alongside a temporary slowdown in job growth.
Results from megacap companies will be the focal point in a week filled with earnings reports, given their pivotal role in this year's Wall Street rally.
