With earnings announcements from major financial institutions due tonight, the direction of the US equity market is expected to determine the market trend. In the previous session, the Dow rose while the Nasdaq fell.
The previous day's New York market was mixed. The Dow Average rose $195.60 (+0.38%) for a third consecutive session, supported by earnings from major companies, expectations for AI investment and a rise in Salesforce. Meanwhile, the Nasdaq Composite fell 0.44%, while the S&P 500 remained slightly in negative territory. Semiconductor stocks fell sharply following news involving CXMT, weighing on the broader technology sector. The closure of the government bond market for a public holiday also led investors to refrain from buying.
Tonight's New York market is expected to focus on digesting earnings results from major financial institutions announced before the opening. Results and outlooks from companies including JPMorgan Chase and Goldman Sachs may determine the market's direction. Market attention is focused on the strength of corporate earnings growth forecasts, with some expecting initial reactions to influence the broader market. Remarks from senior Fed officials are also scheduled, and investors are expected to continue assessing the outlook for monetary policy. The September economic indicators scheduled for release are the NFIB Small Business Optimism Index, September existing-home sales and the September fiscal balance.
Major companies scheduled to announce earnings include Goldman Sachs, Citigroup, JPMorgan Chase, Domino's Pizza, Wells Fargo, Johnson & Johnson and UnitedHealth. The market's reaction may affect the subsequent direction of trading.