LIVE MARKETS-Calm before the storm

Reuters
2024-10-29
LIVE MARKETS-Calm before the storm

Main U.S. indexes rise; Dow ends up 0.65%

Financials lead S&P sector gainers; Energy, Tech decline

Dollar, gold slip; crude down >5%; bitcoin up >2.5%

U.S. 10-Year Treasury yield rises to ~4.27%

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CALM BEFORE THE STORM

U.S. stocks closed out Monday's trading with modest gains in a muted session ahead of a week chock full of major market moving catalysts, including a wide swath of earnings and economic data, culminating with Friday's government payrolls report.

The gains came even as U.S. Treasury yields continued to ascend after soft auctions of both 2-year US2YT=RR and 5-year US5YT=RR notes. Small caps outperformed, with the Russell 2000 .RUT up 1.6% and the S&P 600 .SPCY up 1.5%.

The yield on the benchmark 10-year note US10YT=RR climbed to 4.3%, its highest since July 11, before retreating slightly.

Earnings are due this week from 169 S&P 500 companies, including megacap names such as Alphabet GOOGL.O, Apple AAPL.O and Meta Platforms META.O. Of the 184 components that have already reported earnings, 78.8% have topped expectations, according to LSEG data, well above the 67% average since 1994 but roughly in-line with the 79% beat rate over the past four quarters.

Earnings are also expected from Amazon.com AMZN.O and Microsoft MSFT.O this week.

The pace of economic data will also pick up on Tuesday, with reports on the housing market and the first peek of labor market health in the October JOLTS report.

Below is your closing market snapshot:

(Chuck Mikolajczak)

*****

FOR MONDAY'S EARLIER LIVE MARKETS POSTS:

THE SEASON'S UPON US - CLICK HERE

WITH ELECTION DAY NEARING, MARKETS FOCUS IN ON TWO LIKELY OUTCOMES - CLICK HERE

FASTEN YOUR SEAT BELTS: THIS WEEK'S ECONOMICS - CLICK HERE

U.S. HOUSING MARKET'S AGONY COULD SEE SOME RELIEF NEXT YEAR - CLICK HERE

CRUDE OIL FUTURES: DRILLING DOWN TO SUPPORT, IS IT SOLID? - CLICK HERE

UK MOTOR FINANCE RULING HITS EXPOSED LENDERS, ANALYSTS CRUNCH NUMBERS - CLICK HERE

EU BEVERAGES MAY BE FACING A NASTY HANGOVER ON NOV. 6 - CLICK HERE

WHY DID THE NIKKEI FINISH HIGHER ON MONDAY? - CLICK HERE

INVESTORS SEE FRENCH AND GERMAN STOCKS AS EUROPE'S 'WEAK LINKS' - JPM - CLICK HERE

AIRLINES LIFT EUROPE AS OIL PROVIDES DRAG - CLICK HERE

EUROPE BEFORE THE BELL: SCREENS FLASH GREEN - CLICK HERE

EVENT RISKS GALORE THIS WEEK CLICK HERE

Closing levels Oct 28 https://tmsnrt.rs/4hhlp3H

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