Market indexes were mostly flat, with the Dow in the red while the Russell 2000 outperformed, up +0.76%. The upcoming interest rate cut to 3.50-3.75% was well-received despite strong jobless claims data. After-hours earnings reports were positive, with Ulta up 5%, DocuSign beating estimates, and HPE posting mixed results.

Personal Consumption Expenditures (PCE) report for September is expected to show a +2.8% year-over-year increase in headline PCE and +2.9% in core PCE. A surprise increase could impact the Fed’s interest rate decision next week. Despite potential caution, the Fed is likely to proceed carefully given the current economic climate.

Zacks Research Chief picks a stock with money-doubling potential, highlighting one stock with superior growth potential. Recommendations include Ulta Beauty, DocuSign, and Hewlett Packard Enterprises. Investors can access the full report for further analysis and insights on potential stock opportunities.

Read more at Nasdaq: Markets Flatten on Waning Rate Cut Exuberance