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Futures tied to the Nasdaq Composite edged higher early Monday, setting a positive tone for a critical week ahead. On Friday, the Nasdaq gained 0.8% despite a mixed earnings season, with major tech companies showing both revenue growth and some caution about future prospects. Investors are keeping a close watch as Tuesday’s U.S. presidential election and Thursday’s Federal Reserve meeting could bring significant changes to markets.
The upcoming election shows a tight race, adding to investor uncertainty about potential shifts in economic policy. Thursday’s Federal Reserve meeting is expected to deliver a 25-basis-point rate cut, which many investors see as a supportive move for the stock market. With futures trending positively, market sentiment appears optimistic for stable outcomes from both events.
The optimism comes despite a disappointing jobs report last week, which showed only 12,000 new hires in October. This lower-than-expected figure is largely attributed to one-time events like recent storms and labor strikes, and investors remain calm, believing these factors to be temporary disruptions.
Following the jobs report, investors continued to invest in equities, reflecting confidence that the underlying economy remains stable despite short-term setbacks. This focus on long-term growth rather than temporary data shows resilience in investor sentiment ahead of the critical week.
With two major events on the horizon, analysts are bracing for volatility across multiple asset classes, including stocks, commodities, and currencies. As markets prepare for potential shifts from the election results and the Fed’s policy, investors anticipate that the coming days could bring sharp market swings across global markets.
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