Markets today: three Fed voices after a chip-led surge

A run of Fed remarks and weekly payroll data lead a light Tuesday after chipmakers powered the Nasdaq to a 2.3% gain, with a Trump-Xi summit Thursday and durable goods Friday the week's larger draws.

Tuesday opens after a powerful session for technology. Chipmakers and the large internet names drove the Nasdaq Composite up 2.26% on Monday, and the S&P 500 and Dow followed higher. The calendar today asks less of the market. Three Federal Reserve officials are scheduled to speak, and weekly payroll data lands before the open. No high-importance economic reports or earnings from the large-cap names Bellwize covers reach the tape. The heavier events sit further out. A summit between President Trump and President Xi is set for Thursday, the highest-importance entry on the docket, and durable goods orders close the week Friday.

On the calendar today

Six releases carry the day, all of medium importance. Weekly ADP payroll figures come first, at 8:15 a.m. ET. Fed speakers fill the midday hours. New York Fed President John Williams is scheduled for 10:05 a.m. ET and Fed Vice Chair Philip Jefferson for 10:20 a.m. ET, with Richmond Fed President Thomas Barkin following at 1:00 p.m. ET. The weekly API crude oil inventory estimate arrives after the close, at 4:30 p.m. ET, forecast at a draw of 0.5 million barrels after a 7.14 million build. The United Nations General Assembly also continues in New York, a diplomatic backdrop rather than a market release.

Backdrop

Monday closed sharply higher. The S&P 500 rose 1.49% to 7,764.70. The Nasdaq Composite led the majors, up 2.26% to 27,122.09, while the Dow gained 0.71% to 52,048.83. The VIX, a gauge of expected volatility, eased to 14.68, down 1.28% on the session and calm by recent standards. The 10-year Treasury yield climbed to 5.01%, higher on the session and back above the 5% mark that anchors the rate-sensitive corners of the market.

The week ahead

Two days carry scheduled items:

Thursday: a summit between President Trump and President Xi, the week’s highest-importance entry, alongside quarterly results from Costco Wholesale.
Friday: durable goods orders for last month, at 8:30 a.m. ET, forecast at a 0.4% decline after a 1.1% gain the prior month.

What to watch

The Fed remarks are the throughline today. Williams and Jefferson appear within fifteen minutes of each other mid-morning, and Barkin follows after midday, the first cluster of central-bank commentary since last week’s meeting. Traders will read their tone against a 10-year yield that has climbed back to 5.01%.

Monday’s rally sets the second storyline. The advance was concentrated in semiconductors and the large internet names: Arm rose 17.2%, Intel added 12.1%, and Meta Platforms gained 11.3%, the heaviest single-day moves among the large-cap names Bellwize covers. Whether that leadership holds is the question the tape opens on.

The weekly ADP figure at 8:15 a.m. is the only hard data before the bell. It gives an early, high-frequency read on hiring ahead of the fuller monthly reports later in the cycle.

This is a general-market summary for information only — not investment advice, and not a recommendation regarding any security.