As the first trading week of October has drawn to a close, bulls may have been left disappointed as major equity indexes mostly held on to their lofty valuations but failed to take out the recent set of all-time highs. But at least one crisis has (for now) been averted; the tentative deal announced Friday for the International Longshoremen’s Association narrowly sidesteps a potentially messy strike and the negative ripple effects that could have spread through the supply chain and the broader economy. Meanwhile, markets initially surged after a blowout Employment Situation report that logged a month-over-month Nonfarm Payrolls increase of 254,000 versus consensus expectations of 132,500. However, the upswing faded shortly after the open and the indexes could not recapture the pre-market highs despite a green finish.

Looking ahead to next week, it’s rather light in terms of economic data but heavy for information from the Federal Reserve. Numerous Fed leaders are scheduled to speak all throughout the week, with the most important event being Wednesday’s FOMC Minutes at 1 p.m. Central Time. For economic data, Tuesday brings the NFIB Small Business Optimism Index and the Balance of Trade reports, while Thursday includes potentially market-moving data like Consumer Price Index and Jobless Claims. The Producer Price Index, Michigan Consumer Sentiment, and WASDE reports round out the week on Friday.

Earnings season will kick off again with quarterly results for major financial companies like JPMorgan Chase (JPM), Blackrock (BLK), and Bank of New York Mellon (BK) on Friday. But before that, look out for PepsiCo (PEP) on Tuesday, as well as Delta Air Lines (DAL) and Domino’s Pizza (DPZ) on Thursday.

Finally, in the latest edition of Market Overtime, a lively discussion about the Fed's current rate-cut cycle and what it means for U.S. Fiscal policy. Luke Gromen joins Oliver Renick to explain why Gold prices continue to soar alongside markets hitting all-time highs. From the U.S. Government's debt to the recent weakness in the Dollar, Gromen provides his perspective on the U.S. fiscal spending issue impacting the economy and the ramifications of a possible bond market bubble bursting.

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