NEW YORK: The S&P 500 ended nearly flat on Monday (Oct 2) with utilities falling sharply and investors weighing the likelihood the Federal Reserve (Fe...
A strategist says that what is crucial for the US stock market is to ascertain where the Fed is headed. – AFPpicThe S&P 500 ended nearly flat on Monday with utilities falling sharply and investors weighing the likelihood the Federal Reserve will need to hold interest rates higher for longer.
The Dow Jones Industrial Average fell 74.15 points, or 0.22%, to 33,433.35, the S&P 500 gained 0.34 points, or 0.01%, at 4,288.39 and the Nasdaq Composite added 88.45 points, or 0.67%, at 13,307.77. The US central bank said last month it may increase rates again as it struggles to bring inflation closer to its 2% annual target.
“Coming into this month, it’s a market that needs confirmation that earnings are working their way higher. And, what’s crucial for the market is to ascertain where the Fed is headed,” she said.
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