Wall Street kicked off the new week on an optimistic note as traders anticipated crucial earnings reports and economic events. By midday trading in New York, the S&P 500 showed a 0.4% rise, while the tech-heavy Nasdaq 100 climbed 0.8%. The blue-chip index saw a modest 0.1% increase, while small-cap stocks slipped 0.8%.

Investors have their sights set on the upcoming quarterly earnings releases from four of the largest U.S. corporations. Microsoft Corp., Apple Inc., Meta Platforms Inc., and Amazon Inc. are scheduled to report their latest financial results between Tuesday and Thursday, potentially providing key insights into the health of the tech sector.

Market participants will also closely monitor the Federal Reserve's two-day Federal Open Market Committee (FOMC) meeting, set to conclude on Wednesday. The central bank is widely expected to maintain interest rates at their current levels. However, analysts and traders will be attentive to any indications of a potential rate cut in September, with market-implied odds fully pricing in such a move, according to CME Group's FedWatch tool.

The week ahead also promises significant labor market data releases. On Tuesday, the June Job Openings and Labor Turnover Survey (JOLTs) will be unveiled, followed by the July private payroll numbers from Automatic Data Processing Inc. on Wednesday. Market participants eagerly anticipate Friday's release of the official employment report for July, anticipating further insights into the health and trajectory of the U.S. job market.

Treasury yields remained mostly stable for shorter-dated maturities, while the 10-year and 30-year yields experienced a 2 basis point decline on Monday. The iShares 20+ Year Treasury Bond ETF saw a 0.4% increase.

In commodities markets, oil prices took a hit, falling 1.1%. West Texas Intermediate (WTI) light crude dropped below $76 per barrel, reaching a fresh 7-week low. Bearish demand developments in China weighed on prices, overshadowing concerns about rising tensions in the Middle East. U.S. natural gas prices also declined by 1.4%.

Precious metals experienced a downward trend, with gold inching 0.5% lower, while copper and silver saw declines of 0.7% and 1.4%, respectively. Bitcoin held steady around $68,000, failing to rally significantly despite bullish headlines over the weekend.

As the week unfolds, market participants will closely watch for earnings reports from tech giants, assess the outcome of the Fed meeting, and digest key labor market indicators. These factors are expected to shape investor sentiment and guide market movements in the coming days.

Disclaimer: The information provided here is for informational purposes only and should not be considered financial or investment advice.