{"id":78531,"date":"2023-10-30T13:16:03","date_gmt":"2023-10-30T17:16:03","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/u-s-stocks-rise-ahead-of-fed-meeting-jobs-report-apple-earnings\/"},"modified":"2023-10-30T13:16:17","modified_gmt":"2023-10-30T17:16:17","slug":"u-s-stocks-rise-ahead-of-fed-meeting-jobs-report-apple-earnings","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=78531","title":{"rendered":"U.S. stocks rise ahead of Fed meeting, jobs report, Apple earnings"},"content":{"rendered":"
\n
\n

\u00a9 Reuters <\/span>
\n<\/i>\n<\/div>\n

Investing.com — U.S. stocks are rising as investors await a week that includes the Federal Reserve’s latest decision on interest rates, the jobs report for October, and earnings from Apple.<\/p>\n

At 11:07 ET (15:07 GMT), the rose 324 points or 1%, while the was up 0.7% and the rose 0.9%.<\/p>\n

The broad-based S&P slumped 2.5% last week, over 10% below its 2023 high and thus falling into correction territory, putting it on course for its third-straight negative month. This would be its first such streak since 2020, in the pandemic era.<\/p>\n

Fed meeting to drive sentiment<\/strong>\u00a0<\/h2>\n

Weighing on Wall Street last week was a sharp jump in Treasury yields, as traders fretted that a resilient economy would mean that the Federal Reserve kept interest rates at elevated levels for longer than previously expected,<\/p>\n

The benchmark jumped above 5% for the first time since 2007, but has since retraced to 4.87%.<\/p>\n

This brings Wednesday\u2019s firmly into the spotlight, with investors eager to hear policymakers’ views on the state of the economy and the outlook for interest rates.<\/p>\n

Most investors are betting that the Fed is done tightening after Chair Jerome Powell said that rising long-term yields reduce the need for further rate increases, though some believe another hike could come when the central bank meets again in December.<\/p>\n

Payrolls report due Friday<\/strong>\u00a0<\/h2>\n

The economic data slate is largely empty Monday, and the week\u2019s key release will be Friday\u2019s report for October. After a blockbuster 336,000 jobs were added in September, economists are expecting more moderate jobs growth of 182,000, which is still consistent with a robust labor market.<\/p>\n

The is expected to remain at 3.8%, while is expected to ease to 4% year-on-year, which would mark a post-pandemic period low.\u00a0<\/p>\n

Apple the highlight of week\u2019s results<\/strong>\u00a0<\/h2>\n

Markets will also be keeping an eye on quarterly results from several large U.S. companies this week. Fast food giant McDonald\u2019s (NYSE:) beat expectations as revenue rose 14% and same store sales rose 8.8% on price increases. Shares rose 1.5%.<\/p>\n

Investors will also be watching the auto makers after reports early Monday that General Motors Company (NYSE:) had reached a tentative agreement with United Auto Workers, potentially setting the stage for an end to a strike, and after Ford Motor (NYSE:) and Stellantis (NYSE:) have also reached agreements with the union. GM shares rose 0.5%.<\/p>\n

However, the main earnings report will come from tech giant Apple (NASDAQ:), the world\u2019s largest company by market value, which is due to release its fourth-quarter earnings after the bell on Thursday.<\/p>\n

Third quarter earnings season has seen disappointments from some Big Tech names, with shares of Alphabet (NASDAQ:) and Tesla (NASDAQ:) slumping after their respective reports.<\/p>\n

Crude slips at start of busy week<\/strong><\/h2>\n

Oil prices fell Monday as traders adopted a cautious stance at the start of a week that includes a Federal Reserve policy meeting as well as key Chinese economic activity data.<\/p>\n

Prices registered hefty losses over the course of the week as there were few signs that the conflict in the Middle East would expand into a wider regional war.\u00a0<\/p>\n

(Oliver Gray contributed to this item.)<\/p>\n

\u00a0<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters Investing.com — U.S. stocks are rising as investors await a week that includes the Federal Reserve’s latest decision on interest rates, the jobs report for October, and earnings from Apple. At 11:07 ET (15:07 GMT), the rose 324 points or 1%, while the was up 0.7% and the rose 0.9%. 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