The DOW JONES index rose 0.61% to 47,836.85 points. At the top of the index is Sherwin-Williams, which rises 7.78%, while Microsoft rises 3.22%. On the decline side, Nike fell 1.47% and Johnson&Johnson lost 1.02%.
The S&P 500 recorded an advance of 0.26%, at 6,892.70 points, while the Nasdaq rose 0.54% to 23,765.65 points.
Wall Street is coming off a very positive day yesterday, in which the DOW JONES rose 0.71%, the S&P 500 1.23% and the Nasdaq 1.86%. The three major indices reached peak levels, with the S&P 500 closing above 6,800 points for the first time in its history.
Investors celebrated the decrease in tensions between the US and China ahead of the long-awaited meeting between President Donald Trump and Chinese President Xi Jinping this Thursday. Both countries agreed on a framework for a potential trade deal, addressing China’s restrictions on rare earth minerals, soybean purchases and TikTok.
This Tuesday The two-day Fed meeting also begins, at which the central bank is expected to cut interest rates for the second time this year. Traders are also awaiting a signal from Fed Chair Jerome Powell that the institution will cut rates once again at its last meeting of the year in December, in part due to concerns about the weakening labor market. However, the closure of the US administration has caused a blackout of references that increases market uncertainty.
In the macroeconomic section, consumer confidence from The Conference Board for October and home sales for September will be released today.
Furthermore, it has been known that private sector employers added on average 14,250 jobs per week over the past four weeks, according to new preliminary data released by ADP. To fill the gap created by the government shutdown, ADP will now publish the four-week weekly average of employment change every Tuesday, two weeks late. Today’s figure corresponds to the average ending October 11. These preliminary data will be different from the better-known National Employment Report, which is typically released the Wednesday before the government’s payroll figure is released.
Meanwhile, continue a results season that is generally quite solid. With 143 S&P 500 companies having published their accounts, the average increase in earnings per share is 17.0%, compared to the 8.5% expected before the publication of the first company, according to calculations by Bankinter analysts. The qualitative balance is as follows: 87% exceed expectations, 2% are in line and the remaining 12% disappoint. In the last quarter (2Q’25) earnings per share increased 13.3%, compared to the expected 5.8%.
In the coming days, 5 of the Magnificent 7 are also expected to present their accounts: Alphabet, Meta (Facebook), Microsoft (October 29), Apple and Amazon (October 30), which together represent approximately one quarter of the total value of the S&P 500.
Beyond the results, investors will also have to pay attention to Amazon’s price after the announcement that will reduce its corporate workforce by around 14,000 positions. The company had about 1.56 million full- and part-time employees at the end of last year, while Amazon’s corporate workforce includes about 350,000 employees. Reuters had reported yesterday Monday that Amazon plans to cut up to 30,000 corporate jobs starting Tuesday, as the company makes up for excess hiring during the pandemic’s peak demand.
Today the PayPal Holdings accounts are expected, which at the moment soars 8.6% after signing an agreement with OpenAI to integrate its digital wallet into ChatGPT. The deal, sealed over the weekend, means that starting next year, both sides of the PayPal ecosystem will be able to connect to ChatGPT: PayPal users will be able to purchase items through the AI platform, and its merchants will be able to sell on it, with their inventory posted there, PayPal CEO Alex Chriss said in statements to the CNBC.
Among Dow components, insurance giant UnitedHealth rises after reporting earnings of $2.92 per share on revenue of $113.2 billion. Analysts had expected earnings of $2.79 per share and revenue of $113.06 billion.
Sherwin-Williams registers advances of 8.23% on the Dow Jones. The paint company achieved adjusted earnings of $3.59 per share and revenue of $6.36 billion in the third quarter. Analysts had anticipated earnings of $3.44 per share and revenue of $6.2 billion.
The accounts of UPS have also already been known, which soared 11.5% in the New York morning after exceeding market estimates in its third quarter. Earnings per share reached $1.74 per share, well above the expected $1.30, while revenue amounted to $21.4 billion, compared to the expected $20.83 billion.
Increases of almost 14% for Wayfair after also putting better-than-expected results on the table. The company posted adjusted earnings of 70 cents per share on revenue of $3.12 billion, when analysts had expected a profit of 43 cents per share on revenue of $3.02 billion.
Shares of steel products maker Nucor rise 2% after reporting strong third-quarter results. Nucor forecast earnings per share of $2.63 per share, beating its previous forecast of earnings between $2.05 and $2.15 per share. Third-quarter revenue was $8.52 billion, above analysts’ consensus expectations of $8.18 billion. Nucor expects current period earnings to be lower than the third quarter.
In raw materials markets, oil prices fall this Tuesday, as OPEC’s plan to increase production offsets optimism about a possible trade agreement between the US and China. US West Texas futures fell 1.34% to $60.49 per barrel, while international benchmark Brent oil fell 1.23% to $64.10.
Meanwhile, the price of gold continues its correction and moves away from its historical highs of just a week ago at $4,398, with a drop today of 1.55% to $3,929.88 per ounce in its spot form.
The euro falls 0.17% against the dollar in the currency market awaiting the Fed, leaving the exchange at 1.1630 dollars for each community currency.