On Tuesday, October 17, the U.S. stock markets closed mixed, reflecting strong economic data and robust Q3 earnings, hinting at a prolonged tight monetary policy by the Federal Reserve.
U.S. retail sales increased by 0.7% in September, surpassing estimates of a 0.3% rise, while U.S. industrial production saw a 0.3% monthly gain in September, exceeding market expectations.
On Monday, October 16, the U.S. stock markets closed higher, reflecting optimism over earnings season. Treasury yields increased as investors closely monitored the ongoing conflict between Israel and Hamas.
In economic data, the NY Empire State Manufacturing Index for October was reported at -4.6, a drop from 1.9 in the previous month but still better than the expected -7.
Apple fell in premarket on a report that said iPhone 15 demand has been weak in China and another which hinted at Goldman eyeing exit from Apple-partnered consumer finance business.
On Friday, October 13, the U.S. stock markets closed mixed as declining consumer confidence and Middle East tensions overshadowed positive earnings from major U.S. banks.
Major Wall Street banks kicked off the third quarter earnings season.
On Thursday, October 13, the U.S. stock markets closed in red, affected by rising bond yields following a U.S. Treasury auction and data indicating a higher-than-expected increase in September consumer price.
The benchmark yield surged to 4.728%, reversing the declines observed over the last two days. U.S. inflation for September was 3.7%, slightly above the expected 3.6%.
On Wednesday, October 11, the U.S. stock markets closed in the green, marking a four-day winning streak. Investors are keenly awaiting the consumer inflation data for September, a critical factor that could influence the Federal Reserve’s impending decision on whether to increase or decrease interest rates.