This week’s NY market is expected to focus on the release of Broadcom’s earnings and the August U.S. employment report, while attention will also center on moves in AI-related stocks and the outlook for U.S. monetary policy. The 3 major indexes all rebounded last week, but interest-rate trends toward the end of the week could determine the market’s subsequent direction.
This week’s NY market will focus on the release of Broadcom’s earnings and the August U.S. employment report. Last week, the Dow rose 0.53%, the Nasdaq Composite gained 0.85%, and the S&P 500 also advanced, with all 3 indexes rebounding. The market was supported early in the week by a decline in long-term U.S. Treasury yields and dip-buying, while technology stocks were bought later in the week following Nvidia’s bullish outlook and a sharp rise in Salesforce shares.
The focus will be on whether earnings announcements from AI-related companies can drive the market. Semiconductor giant Broadcom’s earnings on Wednesday will attract attention, while developments at Dell Technologies and Hewlett Packard Enterprise are also likely to draw interest from the market.
Among economic indicators, Friday’s August U.S. employment report will be the week’s main event. A view that Fed Chair Warsh’s hawkish stance will heighten expectations of a September rate hike could affect the market. The importance of assessing labor-market supply and demand trends and wage growth is increasing.
U.S. economic indicators, including the August Chicago purchasing managers’ index (PMI), are due tonight, while corporate earnings announcements are reportedly limited.