US Stocks Drift Amid Q3 Earnings Reports, Nvidia Updates and Economic Data
U.S. stocks oscillated Monday as investors awaited key Q3 earnings reports and delayed economic data. The S&P 500, Nasdaq Composite and Dow Jones hovered near breakeven, while volatility remained subdued. Market focus is on earnings reports from Nvidia, Home Depot and Walmart. Major investors shifted positions: Peter Thiel and SoftBank cut Nvidia stakes, whereas Berkshire Hathaway boosted its Alphabet holdings. On the economic front, U.S. construction spending rose 0.1% in September, beating forecasts, and the Empire State manufacturing index climbed to 3.1 versus an expected -8. Treasury yields held near recent levels, with the 10-year at about 4.69% and the 2-year around 5.00%.
Neutral
This mixed performance, driven by impending earnings reports and economic releases, offers no clear directional catalyst for cryptocurrencies. Historically, crypto markets have mirrored stock market uncertainty during earnings seasons, resulting in range-bound trading. Absent a specific macro shock or regulatory development, digital assets are likely to remain sideways in both the short term and long term.