was a big drag, down 3.7% after a report said U.S. curbs could force the chip designer to cancel billions of dollars of orders to China.fell 6.3% as the company’s dealer inventories rose and a large order backlog shrank, indicating that equipment demand is starting to slow. Drugmaker
An October reading of Chicago PMI came in at 44 against expectations of 45, while a separate reading showed U.S. labor costs “The slightly stronger increase in the employment cost index in the third quarter is another sign that the earlier rapid easing in labour market conditions may be fading,” said Andrew Hunter, deputy chief U.S. economist at Capital Economics.
“But the forward-looking evidence still suggests wage growth will slow further over the coming months.” The Fed kicks off a two-day monetary policy meeting on Tuesday. At the end of the meet the central bank is widely expected to hold interest rates steady, according to the CME Group’s FedWatch tool. headtopics.com
The Fed’s commentary on Wednesday would be crucial in assessing how long monetary policy could stay restrictive amid recent signs of economic strength. Along with earnings, a slew of labor market data throughout the week will also be in focus, culminating in Friday’s non-farm payrolls report, for further clues on the strength of the U.S. economy.slumped 45.9% as the drug developer’s muscle disorder gene therapy failed in a late-stage trial. Shares of Sarepta’s client, Catalent
Advancing issues outnumbered decliners by a 1.50-to-1 ratio on the NYSE and by a 1.09-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week high and six new lows, while the Nasdaq recorded eight new highs and 126 new lows.Global macro hedge funds are now bearish on equities, leaving behind bullish bets which were part of their strategy for most of the year, while commodity trend advisers (CTAs) increased their short positions, Barclays said in a note.Brazilian retailer GPA expects to raise about 500 million reais ($98. headtopics.com
Wall Street Points Higher Ahead of Fed Rate DecisionWall Street pointed toward gains before markets opened Monday ahead of another crush of corporate earnings and the Federal Reserve’s decision on interest rates. Read more ⮕
Wall Street’s ‘Hell Week’ with Fed, earnings, jobs data and Treasury funding on deckWall Street will need to pass a series of stern tests this week if it wants to keep hopes of an end-of-year rally alive. Read more ⮕