Posted 11/1/2023, 2:25:34 PM
Stocks Edge Higher Ahead of Fed Decision; Tech Stocks Mixed as Investors Await Rate Guidance
- US stocks rose as investors prepared for Fed rate decision, with Dow flat, S&P up 0.2%, and Nasdaq up 0.3%
- Treasury yields edged lower ahead of Fed decision, with 10-year yield around 4.87%
- ADP data showed 113,000 private jobs added in October, below estimates
- AMD shares slipped after Q4 guidance fell short despite earnings beat
- Private payroll wage growth slowed to 2-year low in October
- 'Magnificent Seven' tech stock leaders diverged in October amid shifts
- Manufacturing activity contracted more than expected in October
- Stocks opened higher as bond issuance met expectations ahead of Fed