S&P 500’s four-year rally faces a week of major tests

what happened

According to Dow Jones Newswires, citing Barron's, the S&P 500’s bull market reaches its fourth anniversary today, but the milestone may not warrant an immediate celebration. The advance is entering its 1,001st trading day and has added nearly $40 trillion in market value.

Investors face key inflation readings this week, with consumer and producer price data expected to inform the Federal Reserve’s October interest-rate decision. Citi, Goldman, JPMorgan and Wells Fargo will begin the major-bank earnings season, while results from ASML and Taiwan Semiconductor will be closely watched for signals on the artificial-intelligence trade.

U.S. bond markets are closed for Columbus Day, removing Treasury-yield pressure from stocks for the session. Oil prices were nevertheless rising after fresh attacks on Saudi Arabia. Micron and other memory stocks came under pressure after China’s CXMT made significant progress in developing a new chip.

why it matters

The week brings several potential market catalysts at once: inflation data, financial-sector earnings, technology results and geopolitical risks. Oil moves may affect sentiment, while developments at CXMT add a new competitive concern for memory-chip companies.

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