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S&P 500, Nasdaq on track for record closing highs as focus turns to earnings

Reuters • October 6, 2026 • general

Key Points:

Wall Street rallied as crude oil prices stabilized and US Treasury yields eased, easing investor concerns and shifting focus to the upcoming third-quarter earnings season.
The S&P 500 and Nasdaq approached all-time closing highs, while the Dow remained about 5% below its August record.
The US trade deficit widened by 13.7% due to record-high imports, reflecting strong domestic demand that could intensify inflation pressures amid ongoing supply constraints.
Market expectations for a Federal Reserve rate hike this month have decreased significantly, influenced by easing oil prices following the G7's agreement to release emergency fuel stockpiles.
Analysts forecast a 30.6% annual growth in S&P 500 earnings for Q3, driven by substantial gains in the energy and technology sectors as the earnings season begins next week.

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