"Last week, a Federal Reserve decision to lower its target interest rate by 0.25%, and its expressed willingness to cut twice more in October and December this year, helped boost the index of America's 500 largest listed companies. But this week, worries that Democratic opposition to proposed continuing resolutions in Congress will force a government shutdown have investors on edge."
"Tomorrow for example, space investors will be on the lookout for the first earnings report from new IPO Firefly Aerospace ( Nasdaq: FLY), as well as from satellite company Spire Global ( NYSE: SPIR). On Wednesday, we'll start hearing from larger companies, with Cintas Corporation ( Nasdaq: CTAS) and KB Home ( NYSE: KBH). Thursday will be the busiest day for earnings reports this week, with Costco ( Nasdaq: COST), CarMax ( NYSE: KMX), and Accenture ( NYSE: ACN) reporting."
The Vanguard S&P 500 ETF gained 1.2% last week but traded down 0.3% premarket Monday. A Federal Reserve decision to lower its target interest rate by 0.25% and guidance for two additional cuts in October and December supported gains in large-cap stocks. Growing Democratic opposition to proposed continuing resolutions in Congress raised the prospect of a government shutdown if funding is not passed by September 30, increasing market unease. No major companies reported earnings Monday, with several smaller and larger companies scheduled across the week, including Firefly Aerospace, Spire Global, Cintas, KB Home, Costco, CarMax, and Accenture.
Read at 24/7 Wall St.
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