A look at the day ahead in U.S. and global markets from Mike Dolan
With U.S. Treasury markets closed on Monday, Wall Street stocks are set to cruise on higher into the unfolding corporate earnings season – but may first have to take early direction from China’s weekend stimulus update.
The Colombus Day holiday closes Federal offices and the bond market but the New York Stock Exchange and Nasdaq remain open and stock futures are higher first thing, building on the ‘s latest charge to new record highs.
Financials led the way on Friday as the early burst of big bank and asset manager earnings was cheered – with 3-6% share price gains on Friday for the likes of JPMorgan, Wells Fargo and BlackRock (NYSE:).
On Monday, however, China’s markets struggled for direction as Saturday’s much-heralded press conference on fiscal measures to accompany the recent frantic monetary easing turned out to be a bit of a damp squib.
A little short on…
