The index did hit another record high earlier, while the Dow waffled before closing lower
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| | | 10/29/2019 | |
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| S&P Cools as Wall Street Looks to Fed Meeting | | By Lillian Currens | | After trading on both sides of breakeven, the Dow settled slightly lower, as attention turns toward tomorrow's Federal Reserve announcement, where a 25-basis-point rate cut is anticipated. The S&P also hit another record high earlier today, before eventually settling just below breakeven. The Nasdaq, however, was firmly planted in the red today, after a discouraging earnings report from FAANG name Alphabet (GOOGL) slammed tech stocks. Blue chips Pfizer (PFE) and Merck (MRK), on the other hand, helped pare some of the Dow's losses on well-received earnings reports. On the U.S.-China trade front, some of yesterday's optimism depleted on a report from Reuters that a "phase one" trade deal may not be completed in time for the countries' leaders to sign it at the Asia-Pacific Economic Cooperation (APEC) summit in November. However, the White House official said that "good progress is being made." Continue reading for more on today's market, including: | | >> Continue reading... | |
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