Your Trading Week Ahead — October 10th

Welcome to Your Trading Week Ahead for October 10th. Here’s what you need to know before you go…

Quick recap

Markets finished slightly higher last week despite political drama over the U.S. debt ceiling and a miss in non-farm payrolls for September.

The S&P 500 closed higher by 0.78% at 4,391. The Dow followed a similar trend, finishing up 1.22% at 34,746. Nasdaq closed mostly flat, up a modest 0.16% at 14,579.

Bitcoin popped back above $50k with force on Wednesday and is currently trading 15% higher on the week at $55,213.

The price action in $BTC sparked a rise in several other cryptos. But no other asset has garnered the attention Shiba Inu ($SHIB) has received. It’s up an astounding 213% on the week. Ether ($ETH) +3.65%, ($XRP) +11%, Lightcoin ($LTC) +5.44%, and Dogecoin ($DOGE) +10% are all trading higher as well.

What to watch this week

Earnings roundup

Earnings season is back! Big banks headline the week ahead. Here’s some of the most noteworthy reports to keep an eye on:

• Tuesday – Fastenal ($FAST) premarket.
• Wednesday – BlackRock ($BLK), Delta Air Lines ($DAL), First Republic Bank ($FRC), Infosys ($INFY), and JPMorgan Chase ($JPM) premarket.
• Thursday – Bank of America ($BAC), Citigroup ($C), Commercial Metals Company ($CMC), Domino’s Pizza ($DPZ), Morgan Stanley ($MS), Taiwan Semiconductor ($TSM), U.S. Bancorp ($USB), UnitedHealth Group ($UNH), Walgreens Boots Alliance ($WBA), and Wells Fargo ($WFC) premarket. Alcoa ($AA) after market close
• Friday – Goldman Sachs ($GS), J.B. Hunt ($JBHT), Prologis, Inc. ($PLD), PNC Financial Services ($PNC), and Truist Financial ($TFC) premarket.

Economic calendar

There are several events on the calendar this week with the potential to move markets. Here’s some of the most important things to watch:

• NFIB small-business index (Sept) – Tuesday at 6am ET
• Job openings (August) – Tuesday at 10am ET
• Consumer price index and Core CPI (Sept) – Wednesday at 8:30am ET
• FOMC minutes – Wednesday at 2pm ET
• Initial and continuing jobless claims – Thursday at 8:30am ET
• Producer price index (Sept) – Thursday at 8:30am ET
• Retail sales (Sept) – Friday at 8:30am ET
• Import price index (Sept) – Friday at 8:30am ET
• Consumer sentiment index (October) – Friday at 10am ET
• Business inventories (Sept) – Friday at 10am ET

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