The Federal Reserve lifted its key lending rate range by 75 basis points and suggested a language that may signal a policy shift to slower future rate hikes.
Rogers plunged after the engineering materials company ended its merger agreement with DuPont. CVS earnings improved excluding opioid settlement. Estee Lauder lowered outlook on strong dollar and persistent China travel restrictions.
Stocks eased and bond yields were on hold ahead of the widely anticipated rate increase. Service sector led the job growth in the private sector in October.
World markets await the Federal Reserve rate-path direction and views on the inner working of the U.S. economy and inflation drivers. Investors are also looking for more clues on the Fed's plan to shrink its balance sheet.
Goodyear Tire net dropped on rising product costs and strong dollar. Uber Technologies gross monthly booking rose driven by higher demand for transportation and delivery.
The latest JOLT survey showed job openings increase in September and a private survey showed manufacturing growth slowed to the slowest pace since May 2020.
On the final day of October, benchmark indexes eased after strong advances in the previous week. Treasury yields edged higher ahead of the widely anticipated rate hike on Wednesday.
Benchmark indexes jumped after a measure of inflation was steady. Despite the challenging economic fundamentals, indexes closed higher for the third time in the last four weeks.
Benchmark indexes powered ahead on the back of stable inflation and rising earnings from energy companies. Tech stocks eased after Amazon.com forecasted weak fourth quarter sales.
Deckers Outdoor reiterated its full-year outlook. Intel net income plunged and lowered its 2022 sales outlook. Chevron net income more than doubled. Exxon Mobil net income jumped nearly three-fold.
Facebook parent plunged on earnings and future revenue growth worries. Teladoc Health said quarterly loss narrowed. Shopify gross merchandise volumes and payments rose.
U.S. GDP rebounded to 2.6% annual rate after falling for two previous quarters in a row. The rebound was helped by the improvement in net trade and resilient consumer spending and business investment.
