S&P 500 Forecast: Israel-Palestine conflict keeps a lid on index

S&P 500 gained 0.48% last week on account of Friday’s furious rally. Friday’s Nonfarm Payrolls report for September led to 1.2% gain for index. S&P 500 futures dropped 0.75% in Monday’s premarket. Oil rises 3.8% on Monday to $86/barrel. Pepsico, JPMorgan, Citigroup, Domino’s Pizza and Delta Airlines report earnings this week. rry is not just that Israel’s reaction could lead to a wider regional conflict, but that oil prices will remain elevated and choke off growth.

The outlook has soured a bit more on money manager BlackRock, who also releases Q3 results before the market opens on Friday. Most analysts have cut their earnings forecasts for founder and CEO Larry Fink’s operation. The consensus call is for $8.47 in adjusted EPS on revenue of $4.56 billion. UnitedHealthcare, the largest insurer in the US and one of the country’s 10 largest stocks by market cap, is expected to post adjusted EPS of $6.37 on revenue of $91.4 billion in Friday’s premarket.

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