5 Must-Know Facts Before the Monday Stock Market Opens

  • Traders are optimistic about U.S. stocks maintaining a winning streak despite Moody’s cutting its U.S. credit outlook.
  • Congress is working to prevent a government shutdown before the week ends.
  • Walmart and Target will be reporting earnings this week.

Here are the most important news items that investors need to start their trading day:

The major U.S. stock averages have experienced two straight weeks of gains, but this trend may be tested in the following days. Traders will consider Moody’s decision to cut its U.S. credit outlook to negative. Other potential market-driving events this week include the release of the consumer price index and the earnings reports of major U.S. retailers. Stay updated with live market updates here.

The U.S. government will face a partial shutdown if Congress fails to pass a funding bill. House Speaker Mike Johnson, R-La., is attempting to gather support for a short-term funding plan from far-right members of his party by proposing a novel spending plan. Meanwhile, the Senate is considering a stopgap funding measure to avoid a prolonged shutdown which could disrupt economic growth and lead to widespread furloughs.

Several major U.S. retailers will be releasing third-quarter earnings this week, providing insight into consumer spending. Over 90% of S&P 500 companies have reported results for the third quarter. Earnings have grown by 6.3% year over year, while revenue has grown at a slower pace of 1.4%.

A study has revealed that Novo Nordisk’s Wegovy has benefits beyond weight loss, reducing the risk of heart attack, stroke, and death from cardiovascular causes by 20%. The data could result in wider insurance coverage and increased use of the drug.

“The Marvels,” a new Marvel Cinematic Universe film, had the weakest domestic box office opening in the franchise’s history, but performed better internationally. This has prompted Disney to reassess its approach to managing the Marvel universe in the midst of a flurry of releases both in theaters and on their streaming service Disney+.

– CNBC’s Hakyung Kim, Robert Hum, Angelica Peebles, and Sarah Whitten contributed to this report.

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