Dinar Detectives - Iraqi Dinar Recaps from Dinar Guru and Intel
  • Home
  • News
  • Dinar Guru
    • Judy Byington
    • MarkZ
    • Ninja
    • TNT
    • FRANK26
    • Bruce
    • KTFA
    • Mnt Goat
    • Pimpy
    • Militia Man
    • Nader
  • Video
  • Audio
  • Contact
No Result
View All Result
Dinar Detectives - Iraqi Dinar Recaps from Dinar Guru and Intel
  • Home
  • News
  • Dinar Guru
    • Judy Byington
    • MarkZ
    • Ninja
    • TNT
    • FRANK26
    • Bruce
    • KTFA
    • Mnt Goat
    • Pimpy
    • Militia Man
    • Nader
  • Video
  • Audio
  • Contact
No Result
View All Result
Dinar Detectives - Iraqi Dinar Recaps from Dinar Guru and Intel
No Result
View All Result
  • Home
  • News
  • Dinar Guru
  • Video
  • Audio
  • Contact
Home US Stock Market

Wall St wavers ahead of Fed decision; investors assess earnings

October 31, 2023
in US Stock Market
Share on FacebookShare on Twitter

By Amruta Khandekar and Shashwat Chauhan

(Reuters) -Wall Street’s main indexes struggled for direction on Tuesday as investors awaited the outcome of the Federal Reserve’s monetary policy meeting while assessing the latest batch of earnings reports.

Megacap growth stocks, which had powered over 1% gains on Wall Street on Monday, were a drag on Tuesday.

Meta Platforms (NASDAQ:META), Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOGL) fell between 0.4% and 1%.

Nvidia (NASDAQ:NVDA) dropped 2.6% after a report said latest U.S. curbs could force the chip designer to cancel billions of dollars of orders to China.

Seven of the 11 major S&P 500 sectors were in the green, with real estate up 1.2% and leading gains, while communication services was down 0.4%

The Fed kicked off a two-day monetary policy meeting on Tuesday. At the end of the meet the central bank is widely expected to hold interest rates steady, according to the CME Group’s (NASDAQ:CME) FedWatch tool.

The Fed’s commentary on Wednesday and Friday’s monthly payrolls report would be crucial in assessing how long monetary policy could stay restrictive.

“Today is a fairly trendless and friendless market. Everyone’s waiting for the Federal Reserve’s decision and for the employment report on Friday,” said Hugh Johnson, chairman and chief economist of Hugh Johnson Economics.

“Investors since late July have become worried because the possibility of a hard landing has increased. That’s why today there’s so much attention on (the Fed).”

Data showing a solid increase in U.S. labor costs in the third quarter added to concerns that the Fed could keep interest rates higher for longer.

On the earnings front, heavy-machinery maker Caterpillar (NYSE:CAT) fell 5.8% as signs of slowing machinery demand overshadowed a quarterly earnings beat.

Drugmaker Amgen (NASDAQ:AMGN) fell 3.7% as sales of some high-profile medicines came in below expectations in the third quarter.

Of the 279 companies in the S&P 500 that have reported earnings to date, over 78% have beaten analyst estimates, per LSEG data. Analyst expect earnings growth of 4.9% for S&P 500 companies in the third quarter.

U.S. equities are tracking their third straight month of losses, with the S&P 500 and the Nasdaq on course for their biggest October percentage decline since 2018.

At 11:47 a.m. ET, the Dow Jones Industrial Average was down 33.53 points, or 0.10%, at 32,895.43, the S&P 500 was up 0.09 points, or 0.00%, at 4,166.91, and the Nasdaq Composite was down 37.01 points, or 0.29%, at 12,752.48.

Pinterest (NYSE:PINS) jumped 18.6% as the image-sharing platform beat third-quarter revenue and profit estimates.

VF Corp (NYSE:VFC) dropped 14.1% after the Vans sneaker maker withdrew its annual forecast, while Arista Networks (NYSE:ANET) gained 8.5% on an upbeat fourth-quarter revenue outlook.

Sarepta Therapeutics (NASDAQ:SRPT) slumped 41.7% on the failure of its muscle disorder gene therapy in a late-stage trial. Shares of Sarepta’s client, Catalent (NYSE:CTLT), also fell 16.9%.

 

Advancing issues outnumbered decliners by a 2.25-to-1 ratio on the NYSE and by a 1.51-to-1 ratio on the Nasdaq.

The S&P index recorded no new 52-week highs and 14 new lows, while the Nasdaq recorded 9 new highs and 190 new lows.

https://www.investing.com/news/economy/futures-mixed-after-previous-sessions-rally-fed-meet-in-focus-3214901

Tags: ahead”assessdecisionearningsfedinvestorsmarketstockwallwavers
Previous Post

U.S. stocks fall, on pace to close out October on a down note

Next Post

5 Things to Know Before Markets Open

Related Posts

Dow Jones, Nasdaq, S&P 500 weekly preview: How far can this rally go?

Dow Jones, Nasdaq, S&P 500 weekly preview: How far can this rally go?

February 26, 2024
U.S. stocks edge higher, consolidating ahead of key inflation data

U.S. stocks edge higher, consolidating ahead of key inflation data

February 26, 2024

Wall St notches second lower close as 2024 starts with profit-taking

January 3, 2024

U.S. stocks lower at close of trade; Dow Jones Industrial Average down 0.76%

January 3, 2024

US stocks slip lower; Tesla down on increased Chinese competition

January 2, 2024

S&P 500 at 5400 is ‘probable and even conservative’ – Oppenheimer

January 2, 2024

At Dinar Detectives, we provide daily dinar updates and dinar recaps, featuring insights from popular dinar gurus. Stay informed with our comprehensive coverage of the latest dinar chronicles and gain valuable insights from dinar guru opinions.

Links

  • Home
  • News
  • Video
  • Audio

Useful

  • Privacy Policy
  • Disclaimer
  • Resources

Investment Indicator
Dinar Tube
Crypto Recaps

  • Privacy Policy
  • Disclaimer
  • Resources

© Dinar Detectives. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
  • Dinar Guru
    • Judy Byington
    • MarkZ
    • Ninja
    • TNT
    • FRANK26
    • Bruce
    • KTFA
    • Mnt Goat
    • Pimpy
    • Militia Man
    • Nader
  • Video
  • Audio
  • Contact

© Dinar Detectives. All Rights Reserved