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Stocks edge higher as traders look to earnings season

The Nasdaq gained 0.5% for the week, while the S&P 500 slipped 0.2%, despite rising oil prices and bond yields.

Reported · Written up by our desk · Indices

Investors are turning their attention to earnings season, after signs from Micron Technology’s Sept. 30 results offered a preview of what is to come, according to LiveMint Markets.

The article points to a mix of lingering macro worries and improving profit expectations. Oil prices remain persistently high, bond yields have continued rising, and the Federal Reserve’s next interest rate hike is framed as a timing question rather than a possibility question.

Even with those pressures, major indexes moved in contrasting directions. The Nasdaq Composite gained 0.5% for the week, the S&P 500 dipped 0.2%, and the Dow Jones Industrial Average fell 1.3%.

LiveMint Markets also attributes some near-term relief to economic data, saying a weaker-than-expected September jobs report, especially slowing wage growth, helped ease concerns about inflation and interest rates, with market expectations for Fed action in October and December falling on Friday.

Latest closeS&P 500 7,722.72 ▲0.7%|Nasdaq Comp. 27,190.86 ▲1.2%|Dow Jones 51,176.96 ▲0.5%

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