"Moves were also relatively modest in the bond market as Wall Street waits for a few events that could shake things up. On Wednesday, the Federal Reserve will announce its latest move on interest rates, while some of the stock market's most influential companies will report how much profit they made during the summer. On Thursday, President Donald Trump will meet China's leader, Xi Jinping, in hopes of smoothing tensions between the world's two largest economies."
"United Parcel Service rallied 7.5% after delivering stronger profit and revenue for the latest quarter than analysts expected. UPS also gave a forecast for revenue in the all-important holiday shipping season that was slightly above analysts' expectations. PayPal jumped 6.9% after saying it made a bigger profit during the summer than analysts expected. It also said it plans to pay its shareholders a dividend every three months, while announcing a deal where internet users will be able to pay for purchases through OpenAI's ChatGPT."
U.S. major stock indexes moved higher, with the S&P 500 up 0.4%, the Dow up about 265 points, and the Nasdaq up roughly 1%, all near record highs. Trading in bonds was relatively calm as markets awaited a Federal Reserve interest-rate decision and major corporate earnings reports, and anticipated a meeting between President Donald Trump and China’s Xi Jinping. Quarterly results drove stock moves: UPS, PayPal and Skyworks surged on better-than-expected results, a strategic merger, and new business deals, while Royal Caribbean fell after revenue missed expectations despite a profit beat.
Read at Fortune
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