Stocks are down as investors await US election, FOMC meeting, positive earnings trends

From Nasdaq: 2024-11-04 15:45:07

Stocks are trading lower today as the S&P 500, Dow Jones, and Nasdaq indexes decline. Homebuilders see gains with lower bond yields, while Nvidia and Fox Corp rise on positive news. US power stocks and Marriott International face pressure. Markets anticipate the US election, FOMC meeting, and Q3 earnings reports.

US factory orders fall as markets await key events like the election and FOMC meeting. Earnings show positive trends with 79% of S&P 500 companies beating estimates. Expectations are high for a -25 bp rate cut at the FOMC meeting while overseas markets settle mixed. Interest rates are supported by political and economic factors.

Stock movers include Mosaic, Fox Corp, and homebuilders like DR Horton and Lennar. Nvidia and Sherwin-Williams climb while Intel and US power stocks face declines. Companies like Yum China and Revvity report strong Q3 earnings. B. Riley Financial and Marriott International see losses. Earnings reports include companies like AIG, Fox Corp, and Wynn Resorts.

Overall, market movements are driven by election uncertainty, FOMC expectations, and corporate earnings. Global economic factors, interest rates, and political developments influence stock performance. Key players see gains and losses in response to market news and company-specific updates. Market participants await further guidance from upcoming economic indicators and events.



Read more at Nasdaq: Stocks Waver Before This Week’s US Election and FOMC Meeting