Stock futures were little changed with the Dow on track for its best month since 1976

Stock futures were flat on Sunday evening ahead of the final day of October, with the Dow Jones industrial average poised for its best month in decades.

Dow futures were down 15 points, or less than 0.1%. The S&P 500 was also marginally lower, while Nasdaq 100 futures fell 0.1%.

The Dow is up 14.4% in October, its best month since 1976. The S&P 500 and Nasdaq Composite also advanced this month, putting Wall Street on a two-month losing streak.

The gains came despite a mixed third-quarter earnings season for major companies, which showed slower growth and some big disappointments from big tech companies.

Earnings season continues this week with Uber, Pfizer and Advanced Micro Devices.

Traders are gearing up for the latest Federal Reserve meeting starting on Tuesday. The Fed is expected to raise rates again by three-quarters of a percent on Wednesday, but many on Wall Street are looking for a signal from the report or Chairman Jerome Powell’s press conference that the Fed may pause its hikes for the foreseeable future.

“Unless Jay Powell gives the green light next week and delivers a Jackson Hole-type performance, there is little stopping this move from a technical standpoint. The body in motion will be in motion,” wrote Goldman Sachs’ Matt Fleury. A note on Saturday.

See also  Turkey: At least 35 killed in separate accidents at crash sites | news

Leave a Reply

Your email address will not be published.