U.S. stocks finished at record highs last week as risk sentiment was boosted amid signs of cooling inflation and robust economic growth.
For the week, the S&P 500 and Dow Jones Industrial Average both rose 0.6%, while the Nasdaq Composite gained 1%.
Closely watched PCE inflation data showed price increases easing toward the Federal Reserve's 2% target, as Fed Chair Jerome Powell emphasised that the labor market remains “solid.” However, rising unemployment and slowing job gains suggest a gradual cooling.
Looking ahead, the September jobs report is expected to provide more insight into the pace of the labor market's cooling, with market expectations of 130,000 payroll additions, a slight slowdown from August’s 142,000.
Updates on job openings, manufacturing and services sector activity, and consumer confidence are also anticipated.
Meanwhile, Tesla is scheduled to release its upcoming Q3 delivery numbers, amid expectations of 462,000 vehicles delivered, a 6% increase from last year.
Nike will report its fiscal Q1 earnings on Tuesday, with Wall Street expecting revenue of $11.65 billion and earnings per share of $0.52. Both figures represent year-over-year declines as the company faces challenges in reinvigorating sales growth.
This will be Nike’s first earnings call since naming former executive Elliott Hill as CEO, replacing John Donahoe.
Nike shares are down 25% this year.
Other key earnings releases include reports from Carnival, Constellation Brands, and Levi Strauss.
On the bond markets, 10-year and 2-year rates were at 3.754% and 3.563%, respectively.