S&P and NASDAQ on track for big weekly advance

US stocks have been buoyant today, as Wall Street put its Washington worries behind it and looks instead to corporate earnings.

With under an hour to the close of the stock market in New York, the S&P 500 was up 0.54% at 1742.5, on track to set a new record closing high and to post a weekly gain of more than 2%.

The NASDAQ 100 has performed even more strongly today, rising 1.46% to 3348.0, as technology stocks surged, led by a 13% spike in Google.

The government shutdown meant that once again this week economic data was extremely thin on the ground, but that is all set to change next week, as the delayed reports start to flood in, including the hugely important non-farm payrolls for September on Tuesday.

The macro data will be coming in alongside a steady stream of quarterly reports from US blue chip companies; on Monday we will hear from Dow component McDonald’s as well as Netflix, Texas Instuments and Halliburton, amongst others. More Dow components follow on Wednesday with AT&T and Caterpillar.

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