The S&P 500 Index is expected to reach a new high in October, as the market’s attention begins to shift towards the start of the earnings season.
The third-quarter earnings season officially kicks off on October 10, with several of the largest banks reporting their results. Investors have been largely optimistic, with strong economic data offsetting rising tensions in the Middle East and uncertainty surrounding the U.S. election. The S&P 500 was near a record high on Tuesday, driven by technology stocks. Soon, the Federal Reserve will release the minutes of its September meeting. The Federal Reserve had cut interest rates by 50 basis points in September, marking the beginning of its interest rate cutting action. However, the decision was not unanimous, marking the first time since 2005 that Fed governors dissented.