Kitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
NEW YORK, Oct 30 - Wall Street rallied on Monday, surging at the start of what promises to be a hectic week marked with a heavy earnings docket, economic data, and the Federal Reserve's two-day monetary policy meeting and subsequent interest rate decision.
"Some common themes we’re seeing is companies are adjusting to a higher interest rate environment," said Joseph Sroka, chief investment officer at NovaPoint in Atlanta, who also noted that"disruption from the supply chain seems to be lessening." "I think the Fed is going to hold interest steady on Wednesday and the market would be looking for some indication that they’re done raising rates for the year," Sroka added."Powell and the other members are probably content to let the cumulative effect of past rate increases appear, and unless there’s data contradicting the direction of inflation they’re probably done."
The Dow Jones Industrial Average rose 495.88 points, or 1.53%, to 32,913.47, the S&P 500 gained 47.33 points, or 1.15%, to 4,164.7 and the Nasdaq Composite added 144.02 points, or 1.14%, to 12,787.04.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Futures advance as investors await Fed rate verdict; more earnings on tapKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Read more »
Wall St eyes higher open as investors await Fed rate verdict, more earningsKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Read more »
US dollar slides ahead of central bank meetings, key data this weekKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Read more »
Dollar falls vs yen, stocks advance; focus on rates outlook, earningsKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Read more »
Jordan Belfort Warns Investors About Wall Street FeesJordan Belfort, the former broker and author of 'The Wolf of Wall Street,' warns average investors about the excessive fees and commissions charged by Wall Street, which can significantly impact their returns.
Read more »
McDonald's Beats Wall Street Estimates with Strong Q3 Profit and SalesMcDonald's surpasses expectations for third-quarter profit and sales, driven by new launches and steady demand for affordable meals. The company's global comparable sales rose 8.8%, outperforming analysts' predictions. Despite a decline in overall dining traffic, McDonald's saw a 7.3% increase in July. Total restaurant margins also increased due to lower prices of proteins and vegetables.
Read more »