The Federal Reserve has entered its blackout period ahead of the October 27-28 policy meeting, leaving markets without central bank commentary as Wall Street reassesses the resilience of the US economy. Tech stocks led a broad selloff on Friday, capping a weak week with the Nasdaq Composite falling 4.5%, its steepest weekly decline since June, while the S&P 500 slipped 1.9%.
Attention now shifts to corporate earnings, with approximately 70 S&P 500 constituents scheduled to report next week, including Tesla, Meta Platforms, Western Digital and AT&T. Macro releases will also weigh on sentiment, headlined by the US October S&P Global preliminary manufacturing and services PMI, the final University of Michigan consumer sentiment index and one-year inflation expectations.
Elsewhere, the Bank of Korea announces its interest rate decision Thursday, while European Central Bank President Christine Lagarde is set to speak. Additional data includes the Eurozone's October preliminary consumer confidence index and the US September Conference Board Leading Economic Index.
Fed Enters Blackout Ahead of October Meeting as US Earnings Season Accelerates
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