World Stock Watch

US Stocks Take a Breather After Record Highs

After reaching record highs last week, US stocks took a step back on Monday, with the Dow Jones Industrial Average declining by nearly 350 points. The Nasdaq 100, however, managed to eke out a slight gain.

Earnings Season Heats Up

As third-quarter earnings season nears its peak, investors are turning their attention to the latest batch of corporate results. This week, more than 100 S&P 500 companies, including Coca-Cola, Tesla, Boeing, and UPS, are set to report their earnings.

Optimism Reigns Supreme

According to data from Bank of America, company executives are striking an optimistic tone on earnings calls. About 80% of S&P 500 companies that have reported so far have beaten profit estimates by 5%, while 60% have beaten revenue estimates.

Nvidia Jumps to Record Levels

Nvidia’s stock rose more than 4% to close at $143.71, helping to lift the Nasdaq slightly higher. Analysts have been feeling bullish on the stock’s prospects for further gains amid big demand for its new Blackwell chips.

A Quiet Week for Economic Data

It’s a quiet week for economic data, though Fedspeak is set to ramp up with speeches from six central bank officials scheduled throughout the week.

Market Snapshot

Here’s where US indexes stood at the 4:00 p.m. closing bell on Monday:

• S&P 500: 5,853.98, down 0.18%
• Dow Jones Industrial Average: 42,931.60, down 0.80% (-344.31 points)
• Nasdaq composite: 18,540.01, down 0.27%

Other Market News

• Disney said it will appoint Bob Iger’s successor as CEO by early 2026.
• Goldman Sachs said investors should prepare for a decade of muted returns in the stock market.
• An under-the-radar bull case for bitcoin has nothing to do with the election or interest rates.

Commodities, Bonds, and Crypto

• West Texas Intermediate crude oil was up 1.88% to $69.98 a barrel.
• Brent crude, the international benchmark, was higher by 1.56% to $74.20 a barrel.
• Gold was higher by 0.16% to $2,734.50 an ounce.
• The 10-year Treasury yield jumped 11 basis points to 4.188%.
• Bitcoin was lower by 1.78% to $67,790.