Wall Street Rallies as Earnings Season Boosts Investor Confidence

NEW YORK, Oct 30 - Wall Street rallied on Monday, kicking off what promises to be a hectic week that includes a heavy earnings docket, economic data and the Federal Reserve's two-day monetary policy meeting.

Analysts now expect, on aggregate, annual third quarter S&P 500 earnings growth of 4.3%, a marked improvement over the 1.6% year-on-year growth seen at the beginning of October. Investors will scrutinize the accompanying statement and Fed Chair Jerome Powell's subsequent Q&A session for clues regarding the central bank's path forward with rates.

Geopolitical strife arising from the Israel-Hamas conflict as well as a surge in Treasury yields have weighed on stocks in recent weeks, dragging the benchmark S&P 500 down about 10% from its intraday high in July. Onsemi tumbled 21.8% after the chipmaker forecast weak fourth-quarter revenue on slowing demand for electric vehicles.

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Wall Street Rises on Megacap Growth Stocks Ahead of Busy Earnings WeekWall Street's main indexes rose on Monday, boosted by megacap growth stocks ahead of a busy week of earnings and interest rate decisions from major central banks, including the Federal Reserve.
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Wall Street jumps as earnings gather momentum, Fed meeting nearsKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
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Wall St eyes higher open as investors await Fed rate verdict, more earningsKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
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