A relatively quiet start to the week for world markets leaves Wall Street pondering the sustainability of the recent record highs as corporate earnings...
A relatively quiet start to the week for world markets leaves Wall Street pondering the sustainability of the recent record highs as corporate earnings updates pour in, the S&P500 index nears 6,000 and the election looms.
A fiscal think-tank, the Committee for a Responsible Federal Budget, recently estimated that Republican Donald Trump's plans would pile up $7.5 trillion in new debt, more than twice the $3.5 trillion envisaged in Democrat Kamala Harris's proposals. While the blended annual profit growth estimate for the 500 has dipped to 4% from the 5% expected pre-season, according to LSEG data, revenue growth is holding to expectations and a return to brisk double-digit earnings expansions is still forecast for next quarter and right through next year.A heavy diary of updates this week spans industrial, defence, energy and financial sectors but Tesla's quarterly likely grabs many headlines mid-week.
More broadly, the dollar index was a touch firmer again though shy of last week's 10-week high set following the European Central Bank's latest rate cut. Over the rest of the week, finance officials head to Washington for the annual meeting of the International Monetary Fund and World Bank Group and the Fund's latest World Economic Outlook is due for release.Key developments that should provide more direction to U.S.
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