American Market Open Or Not On Monday, October 14: Outlook For Dow Jones, S&P 500, Nasdaq This Week

US Market: The Wall Street of the United States Of America is going on Monday, October 14, as there are no public holidays on this date. Sentiments will influence internal macro economic data, along with global trends and geopolitical tensions. The latest buzz in the year-old Middle East tensions is that the US may be looking to send anti-missile systems and troops to Israel which continues to bombard both Hezbollah and Hamas. Amidst this, investors will keep a close watch on ECB policy, Q3 earnings report, and Presidential Election-related development.

America is reportedly mulling sending Israel an advanced anti-ballistic missile defence system operated by American troops to protect the country in case of an Iranian reaction to an expected Israeli reprisal attack, a US official said Saturday, which was reported by the Times of Israel.

Also, during the weekend, Hebrew-language media stated that the US is likely to depl0y deploy Terminal High Altitude Area Defense (THAAD), which could strengthen Israel's ability to tackle ballistic missiles. THAAD is an air defence battery.

Israel has vowed to retaliate against Iran after the latter launched a barrage of 200 missiles on the soil of the Jewish country on October 1. The details of the retaliation have not been confirmed by Israel or the US. Possibilities of retaliation that have been buzzing are Israel's attack on Tehran's nuclear facilities or their oil fields.

And in a shocker, Iran has during the weekend, rejected claims of being linked to Hamas during their October 7 surprise attack on Israel.

Meanwhile, reports of massive cyberattacks on Iran's nuclear facilities also took around. Israel has not confirmed its involvement.

Coming to economic data, some of the key reports this week would be of US Initial Jobless Claims, US Core Retail Sales (Sep), US Industrial Production (Sep), China GDP (YoY) (Q3) and UK CPI inflation data. Also, investors keep a close watch on ECB policy outcomes, Presidential Election related trends, and Q3 earnings.

Some of the major Q3 earnings to watch out for are Johnson & Johnson (JNJ), Bank of America Corp. (BAC), Goldman Sachs Group Inc. (GS), Citigroup Inc., Charles Schwab Corp. (SCHW), Interactive Brokers Group Inc. (IBKR), Omnicom Group Inc. (OMC), United Airlines Holding Inc. (UAL), Morgan Stanley (MS), Netflix Inc. (NFLX), and American Express Co. (AXP) among others.

US Market Weekly Outlook:

According to the Charles Schwab report, next week it's all about Q3 earnings reports and Thursday's Retail Sales report. The last couple of Retail Sales reports have been stronger than expected, so this data point will provide a good read on the state of the U.S. consumer.

Further, Schwab's report said, however, the technicals remain bullish (more on this in the "Technical Take" section below) and if NVDA can notch a fresh all-time high, or the RUT can break out to fresh two-year highs next week, these would likely be near-term bullish catalysts.

Moreover, Schwab note also said, "Outside of the Retail Sales report, disappointing Q3 earnings results could certainly lead to a bearish week for stock. This is a fully valued stock market that has priced in a pretty aggressive earnings growth story, so any challenge to that thesis in the coming weeks could generate a valuation re-set."

US Market Last Week:

Dow Jones: The Dow Jones Industrial Average or DJIA ended at 42,863.86, surging by 409.74 points or 0.97% on October 11. In the entire trading week, the index jumped by 574.35 points or 1.4%.

S&P 500: The index closed at 5,815.03, up by 34.98 points or 0.61%. Overall, in the week, the index climbed by 77.23 points or 1.4%.

Nasdaq Composite: The tech-heavy index finished at 18,342.94, soaring by 60.89 points or 0.33%. The index's weekly performance is with the upside of 262.82 points or 1.45%, outperforming its counterparts in percentage terms.