Traders work on the floor of the New York Stock Exchange on April 26, 2023 in New York City.
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My top 10 things to watch Monday, Oct. 28
1. Wall Street is headed for a strong open to start the new week of trading, which will be dominated by earnings from some of the most influential tech companies and key economic reports. Equities on Monday were getting a lift from the oil market.
2. How low will oil go? West Texas Intermediate crude futures, the U.S. oil benchmark, are tumbling 6%, to around $67 a barrel. The slide is being attributed to Israeli airstrikes over the weekend avoiding Iran’s oil facilities. In early October, WTI settled around $77 before beginning a downward trend.
3. McDonald’s shares are up slightly after the company announced that the Quarter Pounder burger is returning to the menu of the roughly 900 restaurants impacted by a deadly E. coli outbreak. The item will not be served with slivered onions while the investigation into the root of the outbreak continues. The controversy has pressured the fast-food stock in recent days, which looks like a buying opportunity ahead of earnings Tuesday.
