On Monday, US stocks continued their upward trend, building on solid gains from the previous week. Investors are eagerly anticipating a packed schedule of earnings releases this week, with roughly a third of S&P 500 companies set to report their first-quarter results.
The economic calendar is also packed with important events, including the Federal Reserve meeting and the jobs report. With valuations remaining elevated, earnings will play a critical role in determining market direction.
Key earnings reports to watch include Amazon’s results on Tuesday and Apple’s report on Thursday, both of which will be released after market close. The Federal Reserve is also expected to meet on Wednesday, although no interest rate changes are anticipated. Fed Chair Jerome Powell’s comments on the economy could provide valuable insights into the future direction of markets.
The week culminates with the release of the April jobs report on Friday, with analysts projecting an addition of 250,000 jobs to the economy. While this is slightly lower than March’s robust figure, it still represents strong growth for the job market. Despite these developments, West Texas Intermediate and Brent crude oil prices declined slightly during early Monday trading. Gold prices also edged lower, while the 10-year Treasury yield saw a modest decrease. Bitcoin prices dipped slightly as well
