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1h ago

Shutdown Data Freeze Shifts Market Focus to Big-Bank and Chip Earnings, Fed Signals

With official data delayed by the shutdown, investors look to corporate results alongside Fed remarks for guidance.

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Overview

  • The federal shutdown has entered a third week, extending the data blackout and moving the September CPI release to Oct. 24.
  • JPMorgan, Wells Fargo, Goldman Sachs, Citigroup, Bank of America and Morgan Stanley report third‑quarter results this week, with ASML due Wednesday and TSMC Thursday.
  • The Federal Reserve’s Beige Book is slated for Wednesday, and remarks from Chair Jerome Powell and other officials are expected to carry extra weight.
  • Escalating U.S.–China trade tensions, including tariff increase threats from President Trump and tighter Chinese rare‑earth export curbs, have added to market volatility.
  • The S&P 500 has fallen about 2% since Oct. 1 and is tracking its weakest performance during a shutdown since 1990, according to Dow Jones data.