The S&P 500 trades at 6,643.71

The S&P 500 trades at 6,643.71, holding above 20-day EMA support despite last week’s 0.31% decline.

Stronger U.S. data dampened Fed cut bets, with yields above 4.15% weighing on equities.

The jobs report will decide if the index breaks the 6,700 resistance or risks a retracement toward 6,450.

FOMC Minutes Amid Shutdown! Is Fed Ready to Go Further?

Traders await minutes of the Fed's last policy meeting later in the week, while the federal government shutdown entered its sixth day. Last month, the central bank reduced its benchmark rate by 25 bps. Powell said in September that the Fed was facing a "challenging situation", noting that near-term risks to inflation were tilted to the upside and those to employment leaning downside. Powell is scheduled to speak on Thursday. -------- Do you expect another 25 bps in October? How will market move this week? With multiple stocks surging, is market entering a stage of irrational exuberance?

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