US indices edge lower with Fed's meeting in focus; TSP, GPN decline

Follow us on Google News:
 US indices edge lower with Fed's meeting in focus; TSP, GPN decline
Image source: © Marekskies |

Wall Street indices started the week on a low note on Monday, October 31, after two consecutive weeks of strong gains for the Nasdaq and S&P 500, as investors walked cautiously ahead of Fed's rate decision this week.

The S&P 500 fell 0.75 per cent to 3,871.98. The Dow Jones was down 0.39 per cent to 32,732.95. The NASDAQ Composite lost 1.03 per cent to 10,988.15, and the small-cap Russell 2000 remained flat at 1,846.86.

The investors are keeping close track of the Fed's two-day meeting that would continue through November 2. The policymakers are expected to announce another jumbo hike at the close of their gathering this week on Wednesday.

While anticipation over easing of the aggressive stance by the central bank buoyed gains in the market in recent weeks, the market participants are expecting another 75 bps point hike at the conclusion of this November's meeting.

The information technology and communication services sectors were the bottom movers in the S&P 500 index on Monday. 10 of the 11 segments of the index stayed in the negative territory, with the only energy sector as the gainer.

Shares of TuSimple Holdings Inc. (NASDAQ: TSP) plummeted over 45 per cent in the intraday session on Monday, after the autonomous driving technology firm announced the termination of its President and Chief Executive Officer (CEO) Xiaodi Hou, effective October 30.

Global Payments Inc. (NYSE: GPN) lost over eight per cent in the intraday trading on October 31, after the financial technology firm reported its Q3 FY22 earnings results while providing annual guidance that may have come below the market expectations.

In the technology sector, Apple Inc. (AAPL) fell 1.54 per cent, Microsoft Corporation (MSFT) lost 1.59 per cent, and NVIDIA Corporation (NVDA) plunged 2.44 per cent. ASML Holding N.V. (ASML) and Accenture plc (ACN) ticked down 3.43 per cent and 1.36 per cent, respectively.

In communication stocks, Alphabet Inc. (GOOG) decreased by 1.99 per cent, Meta Platforms, Inc. (META) declined by 6.09 per cent, and AT&T Inc. (T) slumped by 1.24 per cent. Netflix, Inc. (NFLX) and RELX PLC (RELX) plummeted 1.30 per cent and 1.17 per cent, respectively.

Top movers & losers in the US stock market on October 31

Futures & Commodities

Gold futures were down 0.53 per cent to US$1,636.05 per ounce. Silver decreased by 0.20 per cent to US$19.108 per ounce, while copper fell 1.49 per cent to US$3.3780.

Brent oil futures decreased by 1.25 per cent to US$92.60 per barrel and WTI crude was down 1.90 per cent to US$86.23.

Top volume movers in the US stock market on October 31

Bond Market

The 30-year Treasury bond yields were up 0.77 per cent to 4.161, while the 10-year bond yields rose 1.15 per cent to 4.056.

US Dollar Futures Index increased by 0.76 per cent to US$111.448.


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.