Wall Street’s week ahead: U.S. stocks rally could find fuel in earnings, jobs data amid surging oil prices
U.S. stocks are coming off a strong April, driven by robust corporate earnings and resilience despite rising oil prices and a hawkish Federal Reserve. Investors will closely watch upcoming earnings reports from major companies and the April jobs data for further direction. Market gains may face pressure from higher bond yields and ongoing geopolitical tensions in the Middle East.
- ▪The S&P 500 and Nasdaq posted their best monthly gains since 2020, rising over 10% and 15% respectively in April.
- ▪More than 100 S&P 500 companies are set to report earnings next week, with overall first-quarter earnings on track to grow over 20% year-over-year.
- ▪The April payrolls report is expected to show 73,000 jobs added, a decline from March but an improvement from February's sharp drop.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountInvestors will look for another batch of earnings reports and fresh employment data to drive a resilient U.S. stocks rally higher next week, in the face of spiking oil prices and a more hawkish Federal Reserve.Major U.S. stock indexes were at record-high levels on Thursday, following a sharp month-long rebound from concerns about economic fallout from the Middle East war. A broadly strong season for corporate profits is underpinning bullishness for U.S. equities and countering other market headwinds.The benchmark S&P 500 and the technology-heavy Nasdaq Composite both ended April on Thursday with their biggest monthly gains since 2020.
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