United States stocks finished lower today as listeners remained cautious ahead of tomorrow’s Federal Reserve interest rate decision. According to Nasdaq, the Standard and Poor five hundred index fell about twenty four points, roughly zero point four percent, to close near six thousand eight hundred forty seven, while the Nasdaq Composite lost about thirty two points, or zero point one percent, finishing around twenty three thousand five hundred forty six, and the Dow Jones Industrial Average also declined, with all three major benchmarks in negative territory.[3][1] Gotrade News reports that technology was the only sector in the green, while communication services led the decliners, reflecting a defensive tone as volatility picked up and ten year United States Treasury yields pushed to a recent high.[1]
Nasdaq notes that ten of the eleven Standard and Poor sectors fell, underscoring broad based selling.[3] Gotrade News highlights Warner Brothers Discovery as a notable gainer and Marvell Technology as a sharp loser, emblematic of stock specific swings within media and semiconductor names.[1] Market activity was concentrated in the large technology complex, as traders debated how sensitive growth stocks will be to any shift in Federal Reserve guidance.[1][3]
Kiplinger reports that futures linked to the federal funds rate are pricing nearly a ninety percent chance that the Federal Reserve cuts its target rate by zero point two five percentage point tomorrow, which is the key catalyst dominating trading.[6] The Bureau of Labor Statistics Job Openings and Labor Turnover Survey showed job openings in October essentially flat near seven point seven million, reinforcing a picture of a cooling but not collapsing labor market, and that mix of softer growth and sticky inflation keeps uncertainty high.[6][7][9]
Looking ahead, according to Kiplinger, listeners should watch the Federal Reserve statement, the updated rate projections, and Chair Powell’s press conference tomorrow for clues on how many cuts may come in the next year, as several strategists now see the possibility of as many as four reductions over the next twelve months.[6] Those signals, combined with any surprises in upcoming leading indicator data and the next wave of large technology and financial company earnings, are likely to set the tone for pre market futures and could either extend today’s pullback or spark a year end rally, as Piguet Galland suggests the central bank’s easing bias still supports United States equities into twenty twenty six.[2][6]
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