Weekly Market Report (09 Oct 23)

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News Last Week

Wall Street shows caution due to consistent downward revisions in monthly jobs reports.
First time since 1979 that each monthly jobs report has revised numbers lower.
Traders shifting focus from jobs data to more stable data sets.
US economy added 336,000 jobs in September, surpassing Wall Street expectations.
Unemployment rate remained at 3.8%, contradicting anticipated drop to 3.7%.
Despite robust job growth, Fed Chair Jerome Powell favors a moderate labor market.
Market anticipates Federal Reserve to maintain current interest rates after job report release.

Earnings season begins after Indigenous Peoples' Day with reports from financial giants like JPMorgan Chase, Wells Fargo, and Citigroup.
Major corporations such as PepsiCo, Delta Air Lines, and Walgreens Boots Alliance to report earnings.
Inflation updates on producer and consumer prices to be released on Wednesday and Thursday.
Federal Reserve to disclose FOMC meeting minutes on Wednesday.