U.S. stocks are falling, on pace to close out October on a down note
Investing.com -- U.S. stocks are falling to close the month of October on a down note, with the major indexes on pace to notch monthly declines.
The main indices on Wall Street all closed over 1% higher on Monday, with the blue chip Dow gaining over 500 points, or 1.6%, in its best trading day since early June. However, despite these gains, the major averages are on course to post their third straight month in the red, with both the S&P and the Nasdaq on course for their worst October since 2018.The U.S. central bank starts its latest two-day policy meeting later in the session, and investors widely expect the Fed will hold rates steady when it announces its decision on Wednesday.
The market slumped nearly 3% on Monday despite Israel stepping up its ground assault on Gaza, as traders chose to bank recent profits ahead of a string of key economic events this week, most notably Wednesday’s Fed rates decision. Events in the Middle East remain in focus, with traders wary of the conflict between Israel and Hamas expanding into a wider regional war in this oil-rich region.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
October to close on a warm and dry noteDaily highs will stay 5 to 10 degrees above seasonal norms
Read more »
Colombia 12-month inflation forecast to slow in October: Reuters pollColombia 12-month inflation forecast to slow in October: Reuters poll
Read more »
Las Vegas Raiders vs Detroit Lions - October 31, 2023Both teams aiming to avoid second straight loss as Lions host Raiders
Read more »
Best Teen Shows on Netflix Right Now (October 2023)From Stranger Things to Never Have I Ever, this list is filled with some of the best teen shows on Netflix.
Read more »
Healthier Together: October is Breast Cancer Awareness MonthOctober is Breast Cancer Awareness Month, so this a good time to raise awareness of the disease and for women to schedule a mammogram.
Read more »