Earnings, Deals and Trade, Set the Tone for the Week

Market Overview - The trade truce between the US and China is positively impacting the markets, with Asian markets reacting favorably and major US indices showing positive premarket trading [2] - In October, the S&P 500 increased by approximately 2.5% and the Nasdaq rose just under 5%, indicating a strong performance despite the typically challenging month [2] Corporate Deals - Microsoft Corporation has entered a $9.7 billion contract with IREN Limited for access to NVIDIA Corporation chips, which is viewed positively by the market, resulting in a more than 20% increase in IREN Limited's stock [3] - Kimberly Clark Corporation is acquiring Kenvue Corporation, the parent company of Tylenol, in a cash and stock transaction valued at $48.7 billion [3] Earnings Season - The earnings season is ongoing, with notable companies reporting this week, including Palantir Technologies, Advanced Micro Devices, Uber Technologies, Shopify Incorporated, and Pfizer Incorporated [4] - The options market is anticipating a 2% move for Palantir Technologies after earnings, reflecting the stock's doubling in value this year [4] Economic Indicators - The ongoing government shutdown is affecting companies, particularly airlines, with increasing delays at airports and pending approvals from the government [5] - OPEC+ announced a halt to planned production increases starting in early 2026, with crude oil prices remaining largely unchanged in premarket trading [5]