Market indexes advanced more than 1% after the Federal Reserve held rates steady and investors jumped to the conclusion that the central bank would skip rate hikes at the next meeting in December.
Benchmark indexes advanced after bargain hunters searched for recently beaten-down tech stocks and high-growth companies. Mortgage application volume dropped to a 28-year low as buyers struggled with home affordability and elevated mortgage rates.
Stock market indexes declined more than 2% in October after a tumultuous month of trading dominated by interest rate anxieties and bond yields soaring to 16-year highs.
Benchmark indexes are set to close October with losses of 3% as Treasury yields jumped to 16-year highs and investors awaited the Fed's rate decision on Wednesday.
Market sentiment improved after a week of volatile trading, and bargain hunters returned to pick stocks in the tech sector. Investors are widely anticipating the Federal Reserve holding key lending rates steady at the end of the policy meeting on Wednesday.
The S&P 500 index and the Nasdaq Composite advanced more than 1% after bargain hunters returned. On Wednesday, the Federal Reserve is widely expected to leave rates unchanged after the policy meeting.
Stock market indexes rebounded, and tech stocks led gainers on Wall Street after Amazon and Intel reported better-than-expected earnings. The latest inflation report showed little progress, keeping market enthusiasm in check.
Benchmark indexes were under pressure after the latest GDP report supported the case for higher-for-longer rates. The prospect of higher interest rates knocked high-growth and tech stocks down for the third day in a row.
The Nasdaq Composite extended losses and dipped in the bear territory after Meta Platforms earnings fell short of some investors' expectations, compounding growth worries in the sector. Treasury yields remained elevated after the U.S. economy expanded at a faster pace in the third quarter.
Market indexes accelerated losses after Treasury yields turned higher on interest rate uncertainties and the growing prospects of the U.S. federal government shutdown in three weeks.
Benchmark indexes declined after Google stock dropped as much as 8% and dragged down Amazon and Apple. Total mortgage application volume stalled, and new home sales rose to a 19-month high.
Benchmark indexes advanced on earnings optimism, stable Treasury yields, and a decline in crude oil prices. Microsoft and Alphabet were in focus ahead of earnings releases.
Benchmark indexes rebounded from morning losses, and Treasury yields edged lower as the much-feared slowdown in the U.S. economy appears less likely to materialize.
Benchmark indexes struggled to advance after Treasury yields edged higher and the yield on 10-year Treasury note crossed 5% after the U.S. federal budget deficit soared in the latest fiscal year.
