Wall Street Surges Amid Earnings and Election Anticipation

Wall Street closed higher, driven by anticipation of corporate earnings and the upcoming U.S. presidential election. Investors are focused on reports from major companies like Alphabet, Meta, and Apple. Economic data, Federal Reserve policy, and potential changes in AI spending are also in the spotlight.

Wall Street experienced a notable surge on Monday, closing higher as investors braced for a busy week of earnings from leading technology companies and the nearing U.S. presidential election on November 5. Energy supplies remained stable despite tensions in the Middle East, lending additional confidence to market players.

Key corporate results, including reports from top technology giants such as Alphabet, Meta Platforms, and Apple, are scheduled this week, with Wall Street riding on optimism fueled by these megacap stocks that have propelled markets to all-time highs. Preliminary data shows the S&P 500, Nasdaq Composite, and Dow Jones all marked gains.

Attention is also on economic data, mainly the Federal Reserve's preferred inflation gauge set to release Thursday. The presidential election, closely watched by investors, is anticipated to be tightly contested, with markets seemingly factoring in a potential second term for President Donald Trump.

(With inputs from agencies.)