Economic Outlook - Kansas City Fed President Jeff Schmid expressed concerns that economic growth and investment could lead to inflationary pressures, voting against a recent 25 basis point rate cut [1] - Economic data indicated that the U.S. Chicago PMI rose to 43.8 in October, surpassing expectations of 42.3 [2] Corporate Earnings - Wall Street's major equity averages closed higher, with Amazon.com (AMZN) surging over +9% after positive Q3 results and solid Q4 guidance [3] - Twilio (TWLO) saw a +19% increase following better-than-expected Q3 results and above-consensus Q4 guidance [3] - Brighthouse Financial (BHF) jumped over +24% amid reports of Aquarian Holdings' advanced talks to take the company private [3] - In contrast, DexCom (DXCM) fell more than -14% after concerns about potential revenue growth shortfalls in 2026 [3] - The S&P 500 is expected to see an average +7.2% increase in quarterly earnings for Q3, marking the smallest rise in two years [6] Market Sentiment - December S&P 500 E-Mini futures are up +0.42%, and December Nasdaq 100 E-Mini futures are up +0.57%, indicating positive sentiment driven by strong tech earnings and easing U.S.-China trade tensions [5] - Investor focus is on upcoming corporate earnings reports from notable companies including Advanced Micro Devices (AMD) and Palantir (PLTR) [4][6] Federal Reserve Commentary - A range of Fed officials are scheduled to speak this week, with particular attention on their views regarding the economy and labor market [7] - Fed futures indicate a 69.3% probability of a 25 basis point rate cut in December [5] Government Shutdown Impact - The U.S. government shutdown has entered its 34th day, potentially delaying the publication of key economic data, including the U.S. jobs report for October [8] - Investors are focusing on private-sector data releases, such as the ADP employment report, due to the shutdown [8] International Market Developments - The Euro Stoxx 50 Index is up +0.62%, with automobile stocks leading gains following reports of resumed shipments from Dutch chipmaker Nexperia's China facilities [10] - Eurozone's October Manufacturing PMI came in at 50.0, in line with expectations, indicating stagnation in manufacturing activity [11]