The bull market turns four today but is it time to celebrate? Perhaps not just yet ahead of a week that has the capacity to extend or break that impressive run.
Fortunately, the most likely party pooper won't be ruining the celebrations today. The bond market, which has kept stocks in check, is closed for Columbus Day. Oil prices were rising, though, after fresh attacks on Saudi Arabia. That's enough to keep stocks muted even without Treasury yields moving.
Inflation is another risk. Consumer price index and producer price index data this week will play a key role in informing the Federal Reserve's October interest-rate decision.
But earnings season is as much an opportunity as a threat. The big banks will kick things off Tuesday, while reports from ASML and Taiwan Semi later in the week will be important for the AI trade.
China is already threatening to spoil the party. Micron and other memory stocks were under pressure Monday after CXMT made significant progress in developing a new chip.
It's worth briefly reflecting on the enormity of the S&P 500's bull run, which is entering its 1,001st trading day, and the near-$40 trillion in market value added. But only briefly, it's time to lock in and prepare for an action-packed week ahead.
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📈 Here's what's happening in markets today:
Stock futures are wobbling ahead of big bank earnings.
Is the stock market open today? Here are the trading hours for Columbus Day.
Sandisk, IREN, SK Hynix, Amazon, and more stocks that explain today's market.
Micron stock slips as China memory chip threat ramps up.
Has Nvidia stock already peaked? How to spot the warning signs.
How SpaceX's spectrum purchase brings it closer to a Tesla merger.
IREN stock jumps on talk Anthropic is its mystery AI customer.
🎙? Be sure to tune in to today's Barron's Live
Join Barron's Senior Managing Editor Lauren R. Rublin and Associate Editor Andrew Bary today at noon when they speak with Christopher J. Marangi, president & co-CIO, value at GAMCO/Gabelli Funds, about investing in sports leagues, teams, venues, media, and related companies. Sign up here.
🐂 Why this AI-fueled bull market has room to run
The bull market nobody saw coming turns four years old this week, powered by an artificial-intelligence boom that has created trillions of dollars in new investor value, launched a game-changing drive to develop new technology, and raised questions about the risk of a bubble. Read here for more on what's at stake.
🪙 Wall Street is tokenizing stocks, and everything else
With the support of President Donald Trump, who made more than $1 billion from crypto ventures last year, Wall Street is embedding the blockchain technology powering Bitcoin throughout the financial system. Firms are "tokenizing" or creating programmable versions of stocks, bonds, and other real-world assets. For more read here.
🗼 France's debt woes haven't spooked Europe
The yield on French sovereign 10-year bonds has soared past those of Italy and Greece and those of corporate issuers such as beauty giant L'Oreal. A divided National Assembly is deadlocked over a new budget, while student-led protests jam France's streets. So far, it looks contained to France. For more on this read here.
📈 Put it on your calendar
Every Monday morning Barron's publishes a rundown of what's coming up for investors in the week ahead. Don't miss out on earnings reports, inflation data, and anything that could move the markets. On the agenda:
Citi, Goldman, JPMorgan, and Wells Fargo earnings
Consumer price index for September
Taiwan Semiconductor Manufacturing earnings
🎬 Horror is Hollywood's hottest movie genre these days
Horror is one of Hollywood's biggest box office stories of the year, according to Rentrak's head of marketplace trends Paul Dergarabedian. This weekend, Comcast-owned Universal Pictures' Other Mommy marked the sixth horror or horror-comedy film to open at the top of the box office this year. Read more about this trend here.
📰 Don't miss out on our other newsletters
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🏘? 7 housing markets where cash is still king to buyers
High mortgage rates -- 7.4% at the moment -- are only a problem for those using a mortgage. In some of the nation's largest metropolitan areas, many buyers are using a different kind of financing: cold, hard cash. Three of the seven where more than half of buyers pay in cash are in Florida. Read more here.
💬 Quote of the day:
Other headlines moving markets:
The bulls need this earnings season to go ridiculously well.
Big banks' earnings will have to convince 'glass half empty' investors.
The future of perpetual futures markets hangs in the balance.
CVS sees a drop in Medicare Advantage rating.
Why Wall Street finds a Chipotle-Starbucks tie-up unappetizing.
Trump's diesel plan with Putin won't move the needle on prices.
These stocks are secret winners in SpaceX's spectrum binge.
Keurig reimagines coffee without the plastic. The K-Cup still lives.
How to make a marriage work when one spouse is a saver and one is a spender.
Diversifying your portfolio in the age of AI is tricky.
AST SpaceMobile is down on SpaceX news. It shouldn't be.
Fed minutes offer a guide to future interest rate moves.
NFL players were targeted in a Ponzi scheme. One of their own helped pull them in.
New panel to investigate Cook revives questions of Fed independence.
-- Edited by Liz Moyer, Stacy Ozol, and Patrick O'Donnell
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