S&P 500 rallies ahead of busy week as Apple earnings, Fed decision eyed
Investing.com -- The S&P 500 jumped Monday, led by big tech ahead of the earnings from Apple later this week, and the Federal Reserve’s interest rate decision due Wednesday.) is expected to report results for its June quarter - typically a seasonally weak quarter for the company - on Thursday after the market closes, with many Wall Street eager for insight into iPhone sales amid reports of slowing demand.
The terms agreement are similar to the recent accord signed by Ford and Stellantis with the UAW, including wage hikes and cost of living allowances.Treasury yields rose on Monday as investors awaited the Treasury refunding announcement due Wednesday, which details its plans for note and bond sales. As well as the refinancing announcement, the Federal Reserve’s interest rate decision on Wednesday will also draw close attention amid expectations for a rate pause.) also delivered better-than-expected quarterly results, and raised its full-year outlook as student loan refinance demand was better-than-expected. The stock cut gains to trade less than 1% higher.The company guided Q4 EPS in a range of $1.13 to $1.27 on revenue between $1.95B and $2.05B, well below Wall Street estimates of $1.
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S&P 500 futures rise from five-month low with Fed and Apple results in viewJamie Chisholm is a markets reporter based in London.
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