Wall Street followed up yesterday's muted session with losses, as the Federal Reserve kicked off its two-day policy meeting. While traders expect interest rates to remain unchanged, investors will have a deluge of economic forecasts and commentary to dig into tomorrow. In response, the Dow, S&P 500, and Nasdaq all settled firmly in the red.
Continue reading for more on today's market, including:
- Call traders blast big tech stock before developers event.
- Evercore ISI's agricultural production fears lead to bear notes.
- Plus, 3 stocks that moved after analyst attention.
5 Things to Know Today
- Republican House leaders pulled a key vote today that would advance the stopgap measure to fund the federal government though the end of October. (CNBC)
- Concord Management faces Securities and Exchange Commission (SEC) charges for operating an unregistered investment adviser to Russian oligarchs. (MarkettWatch)
- Big Tech stock upgraded on AI tailwinds.
- Bevy of bear notes for styling platform.
- Downgrade dented coffee chain operator's shares.
Oil Snaps Winning Streak
Despite hitting a 2023 peak of $93.75, oil futures finished lower for the first time in four days. Crude for October delivery lost 28 cents, or 0.3%, to settle at $91.20 per barrel.
Meanwhile, gold prices climbed for a fourth-straight session. Today, traders awaited the central bank's decision on interest rates, which helped December-dated gold gain 30 cents -- less than 0.1% -- to close at $1,953.70 an ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
