The NY market is expected to trade in a range tonight. With AI-related stocks and oil prices influencing market sentiment, investors are expected to take a wait-and-see approach ahead of earnings reports from Coca-Cola, Boeing and others.
In the previous NY session, the Dow rebounded, gaining $146.42, while the Nasdaq Composite rose 0.82%. Buying driven by renewed expectations for demand for AI-related stocks lifted Tesla by more than 5%, while NVIDIA and Microsoft also gained and led the market higher. Falling crude oil prices also helped improve investor sentiment.
The market is expected to become more cautious tonight ahead of the release of the FOMC results the following day and earnings reports from major IT companies later in the week. Attention will focus on corporate earnings from Coca-Cola and Boeing, as well as economic indicators including the October consumer confidence index and September durable goods orders. The sustainability of the rise in AI-related stocks triggered by Anthropic's IPO filing, along with movements in crude oil prices, will also remain in focus.
Tonight's economic events include September durable goods orders, the October consumer confidence index and September new home sales. Coca-Cola and Boeing are scheduled to report earnings before the open, while Visa and NXP Semiconductors are scheduled to report after the close.