Stocks Rise as Traders Map Out Election Game Plan: Markets Wrap
- Wall Street also gearing up for busiest week for US earnings
- Growth, storm-impacted jobs data to set table for Fed
Stocks rose at the start of the busiest week for corporate earnings, with traders also gearing up for the US election and key economic data that will set the stage for the next Federal Reserve decision.
Most major groups in the S&P 500 gained, though energy shares joined a slide in oil. Crypto companies surged, with Bitcoin up about 3%. Trump Media & Technology Group Corp. soared 22% as retail traders touted the stock after Donald Trump’s high-profile event in New York Sunday. The company has traded like a proxy for sentiment of his perceived chances of returning to the White House, with recent moves more correlated with betting markets as opposed to actual polling. Conservative video network company Rumble Inc. climbed 14%. In late hours, Ford Motor Co. dropped after trimming its profit forecast.