Wall Street has seen no shortage of excitement the past few weeks, with stocks soaring to too-many-to-count record highs, thanks to anticipation about the Federal Reserve restarting its interest-rate-easing cycle. The Fed's symposium, a slew of mixed economic data reports, and some earnings stragglers have kept things interesting in the waning days of the quarter.
But with summer turning to fall and the third quarter turning to the fourth, investors will soon be turning a page, moving on from the Fed's September policy meeting to speculating about what happens at the next. And on that front, despite what the Dot Plot says, some Fed governors, like the Atlanta Fed's Bostic and the St. Louis Fed's Musalem, aren't really sure about whether the central bank has room for further cuts.
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To that end, investors are going to have to find reasons to keep stocks rolling (or get them roiling), even without a lot of near-term clarity about the Fed's forecast. Even more so as the last full week of the third quarter is set to be quiet from an earnings and economic data standpoint; just as the past few weeks have been.
That's not to say it'll be completely quiet this week: earnings from Micron, Costco, and Accenture will be closely watched. And on the data front, Fed Chairman Jerome Powell will speak tomorrow after a fresh S&P PMI report. Later this week, we'll also get the final figure on Q2 GDP growth, Core PCE inflation, and other key reports..
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-- Noah Weidner, markets reporter
