The major indexes were broadly higher on Monday, with the S&P 500 Index rallying 0.69 percent.
Energy, financials and technology were the best performing sectors. SPDR Energy (XLE) increased 1.81 percent thanks to solid results from Halliburton. SPDR Financials (XLF) advanced 1.42 percent and SPDR Technology (XLK) 1.05 percent. SPDR S&P Regional Banking (KRE) gained 1.33 percent.
This is a light week for economic data. Existing home sales are out on Tuesday and new home sales on Thursday. Housing has been one of the strongest areas of the market and iShares U.S. Home Construction (ITB) one of the best performing sector ETFs over the past month. The other major data points this week are the flash manufacturing and service PMIs for October.
Earnings season is in high gear. Halliburton (HAL) rallied nearly 9 percent in Monday trading after beating earnings. TD Ameritrade (AMTD), Cadence Design Systems (CDNS), Celanese (CE), Hexcel Corp (HXL) and PetMed Express (PETS) also reported.
Tuesday brings Proctor & Gamble (PG), McDonald’s (MCD), Biogen (BIIB), Chipotle (CMG), Lockheed Martin (LMT), Texas Instruments (TXN), Snap Inc. (SNAP), NextEra Energy (NEE) and United Parcel Service (UPS).
On Wednesday, Boeing (BA), Microsoft (MSFT), Tesla (TSLA), ServiceNow (NOW), PayPal (PYPL), Caterpillar (CAT), Boston Scientific (BSX), Ford Motor (F), Anthem (ANTM), Lam Research (LRCX), Ebay (EBAY) and Eli Lilly (LLY) are among the firms reporting.
Amazon (AMZN), Visa (V) and Intel (INTC) headline Thursday repots. Investors will also hear from Northrop Grumman (NOC), Comcast (CMCSA), Gilead Sciences (GILD), Twitter (TWTR), 3M (MMM), Southwest Airlines (LUV), Raytheon (RTN), Capital One (COF), Illumina (ILMN), Verisign (VRSN) and American Electric Power (AEP).
Verizon (VZ), Illinois Tool Works (ITW), Phillips 66 (PSX) and Weyerhaeuser (WY) are some of the larger companies delivering results on Friday.
The U.S. Dollar Index gained 0.10 percent on Monday as Britain’s exit from the European Union was yet again in flux. Parliament rejected Prime Minister Boris Johnson’s negotiated deal with the EU. They voted instead for a 3-month extension request. On Monday, the PM tried again to pass his bill, but the Speaker rejected it based on a rule that disallows a vote on an identical bill. Investors took the news in stride though. iShares MSCI United Kingdom (EWU) gained 0.44 percent and the British pound saw a small increase versus the U.S. dollar. The euro slipped 0.11 percent.