U.S. stocks opened the holiday-shortened week with a rotation story. Salesforce rose about 4 percent in premarket trading Monday after Bank of America upgraded the stock to buy, arguing artificial intelligence should deepen customers' dependence on its platform rather than disrupt it. First Solar gained about 2.4 percent on a Truist upgrade, and Biogen climbed roughly 2 percent after JPMorgan raised it to overweight, pointing to clinical readouts expected in 2027.
The bigger event for the next 24 hours is the start of third-quarter earnings season. JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo all report before the opening bell on Tuesday, with Bank of America, BlackRock and Morgan Stanley following on Wednesday. Analysts expect large-bank profits to be up strongly on investment-banking and trading revenue, even though the KBW Bank Index sits well below its August peak and the 10-year Treasury yield is above 5.2 percent. September inflation data lands Wednesday as well.
Trading conditions are thinner than usual: U.S. stock markets are open for a regular session on Columbus Day and Indigenous Peoples' Day, but the bond market is closed — and in Toronto, the TSX is shut entirely for Thanksgiving, reopening Tuesday.
In disclosed insider activity, Inspira Technologies OXY B.H.N. (NASDAQ: QTEX) chief executive Dagi Ben-Noon bought 18,181 shares at an average of $1.67, a purchase worth about $30,362 disclosed in a regulatory filing. It follows a larger September purchase by Ben-Noon, and he now holds about 3.66 million shares directly. Insider filings are public disclosures of trades executives have already made; they are market news, not a recommendation to buy or sell any security.
By midday Monday the Dow was up about 0.5 percent while the S&P 500 and Nasdaq were slightly lower, with gold near $4,193 an ounce and crude oil around $106 a barrel.
