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Here’s what’s happening in the stock market today:
The stock market today is showing cautious gains as investors await the Federal Reserve's interest rate decision expected later in the day. 📈 The S&P 500 futures are up about 0.3%, with the index recently climbing past the 6,900 mark in intraday trading, while the Dow Jones Industrial Average futures rose slightly and the Nasdaq futures showed moderate gains led by tech stocks. Investor optimism is bolstered by hopes of a 25 basis points Fed rate cut, though uncertainty remains about the tone of Fed Chair Jerome Powell's remarks.
Major Indices Performance 📊
S&P 500 futures up about 0.3%, nearing the 7,000 level.
Dow Jones Industrial Average futures increased modestly.
Nasdaq futures gained around 0.8%, benefiting from tech stock strength.
Market Movers 🚀
Caterpillar surged impressively by over 13% following strong earnings.
Nvidia advanced about 4.8%, buoyed by new AI partnerships.
Micron Technology gained 3.6%, and Palantir rose nearly 4%.
Fiserv experienced a steep decline of nearly 43% amid market news.
Other notable movers include gains in Bloom Energy and modest losses in Oracle and PepsiCo.
Key Events Driving the Market 🗞️
The Federal Reserve is widely expected to cut interest rates by 25 basis points tonight, with investors closely watching the Fed press conference for guidance on future policy.
Tech stocks, especially those linked to artificial intelligence, continue to fuel market optimism.
Nvidia is on track to become the world's first $5 trillion company, highlighting robust growth in the AI sector.
Earnings reports from major corporations including Microsoft, Alphabet, and Meta are anticipated to influence market direction.
Gold prices and crude oil futures remain under pressure, reflecting mixed inflation signals.
Investor Sentiment 👀
Overall, investor mood is cautiously optimistic with the market reflecting anticipation of easing Fed policy and strong corporate earnings, tempered by concerns about the Fed's communication and ongoing geopolitical and economic uncertainties. Trading volume remains moderate as markets prepare for key data and the Fed announcement. 🐂📉
This sets a tone of measured optimism with particular strength in AI-related tech stocks and continued attention on central bank policies and earnings results.
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Marjorie Taylor Greene: Up 134% on PLTR
Cleo Fields: Up 138% on IREN
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Past performance does not guarantee future results. Investing involves risk including possible loss of principal.
There won’t be a new trade alert today. We are holding off until we see a setup that meets our criteria. As always, We'd rather wait for quality than force a trade that doesn’t align with our edge.
Wall Street Highlights:
News Beyond the Numbers
Booking Holdings reported a strong Q3 with a $99.50 per share profit, beating estimates and hitting $9 billion in quarterly sales. Read more.
Meta is set to announce Q3 earnings today, with analysts expecting 14% profit growth and revenue near $490 billion. Read more.
Nvidia’s stock surged again, crossing a $5 trillion market valuation, fueled by strong chip order demand and upcoming discussions on its Blackwell chips. Read more.
Caterpillar beat earnings estimates with a $4.95 Q3 profit despite slightly missing sales expectations at $17.6 billion. Read more.
Verizon posted a modest earnings beat with a $1.21 profit but came up short on Q3 revenue, reporting $33.8 billion. Read more.
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