) closed 0.5% higher after a strong rally on Friday, following the release of the jobs data for September. Stocks rallied as the report shows that wage growth continues to slow down, fueling optimism that the Fed may not have to hike again.
The third quarter earnings season is about to start later this week the major U.S. banks set to report on Friday. “We forecast S&P 500 EPS will grow by 5% in 2025 to $250. Near-trend economic growth and moderating inflation pressures will support modest sales growth and slim margin improvement. However, substantial margin expansion is unlikely given the 'higher for longer' interest rate regime, resilient wage growth, and AI investments among some tech firms,” they said.
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