U.S. Stocks Losing Ground As Market Looks Ahead To Fed Policy For Direction

RTTNews | Před 1029 dny

(RTTNews) - U.S. stocks are broadly lower a little past noon on Monday in cautious trade as investors continue to react to the recently released earnings updates and await the Federal Reserve's policy announcement, due later this week.

The major averages are all down in negative territory, with the Dow slightly outperforming the Nasdaq and the S&P 500.

The Dow, which briefly emerged into positive territory after falling to 32.586.93, was down 149.71 points or 0.45 percent at 32,712.09, a little while ago. The S&P 500 was down 31.74 points or 0.81 percent at 3,869.32 , while the Nasdaq was down 124.76 points or 1.12 percent at 10,977.69.

Investors are making cautious moves as they await the Federal Reserve's interest rate move. The Fed, which is set to meet on Tuesday and Wedenesday, is widely expected to raise interest rate by another 75 basis points - its fourth straight rate hike - to fight soaring inflation.

Among the prominent losers in the session is Apple Inc. (AAPL), which drfited lower on reports the production of the company's iPhones could drop by around 30 percent next month. A surge in Covid-19 curbs in China is cited as the reason for the likely drop in production.

Amazon Inc (AMZN), Microsoft Corp (MSFT) and Alphabet Inc. (GOOGL.TO) are down 1 to 1.6 percent. Shares of Meta Platforms Inc (META) are down nearly 5 percent.

Intel (INTC) is down more than 3 percent. Amgen (AMGN), Caterpillar (CAT) and Coca-Cola (KO) are also notably lower.

Travelers Companies is rising more than 1 percent. United Health, Goldman Sachs (GS), Merck & Co (MRK) and Chevron (CVX) are modestly higher.

A report from the Institute for Supply Management (ISM) showed the Chicago PMI in the U.S. dropped to 45.20 points in October from 45.70 points in September of 2022. The reading was the lowest since June of 2020.

Lower Open Called For Thai Stock Market

The Thai stock market has finished higher in two straight sessions, collecting almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau although it figures to open in the red on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | Před 39 minutami

Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

RTTNews | Před 1 h 7 min

Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | Před 1 h 9 min

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | Před 1 h 24 min

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | Před 1 h 27 min

China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | Před 1 h 39 min

Taiwan Bourse May Hand Back Monday's Gains

The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02. Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.

RTTNews | Před 2 h 9 min

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | Před 2 h 39 min

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