LIVE MARKETS-Main US indexes break back above 50-day MAs
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MAIN US INDEXES BREAK BACK ABOVE 50-DAY MAs
Stocks gained on Tuesday and all three main Wall Street indexes ended back above their 50-day moving average after a slew of delayed economic releases maintained expectations that the Federal Reserve will cut interest rates next month.
Data showed that U.S. retail sales increased less than expected in September, suggesting consumer fatigue amid higher prices because of tariffs, though the moderation did not dampen economists' expectations for solid economic growth in the third quarter.
Fed funds futures are pricing in 83% odds of a December rate cut, little changed from Monday, according to the CME Group’s FedWatch Tool.
Among individual movers, Alphabet's shares GOOGL.O rose 1.5% after The Information reported Facebook-parent Meta Platforms META.O was in discussions to use Google's AI chips in its data centers from 2027 and rent chips from Google Cloud by next year.
Nvidia NVDA.O, which currently dominates the AI chips sector, ended down 2.6% and earlier reached a two-month low.
Among S&P 500 .SPX subsectors, healthcare .SPXHC was the best performer, while energy .SPNY was the weakest group.
Healthcare and communication services .SPLRCL notched record closing highs. The Nasdaq biotech index .NBI also scored a record close.
Here is Tuesday’s closing market snapshot:
(Karen Brettell)
EARLIER ON LIVE MARKETS:
TECH LEADS THIRD-QUARTER S&P 500 EARNINGS GROWTH CLICK HERE
NATURAL GAS: SLOW BOIL SUPPORTS LONG-TERM GROWTH - WFII CLICK HERE
TWO MORE RATE CUTS, BUT YIELDS TO BE RANGEBOUND - JPMORGAN CLICK HERE
ANCIENT HISTORY, AND THEN SOME: PPI, RETAIL SALES, CONSUMER CONFIDENCE, ET AL CLICK HERE
US STOCKS MIXED IN EARLY; CHIPS DIM, BUT REGIONAL BANKS A BRIGHT SPOT CLICK HERE
NEXT PIT STOP: PHYSICAL AI CLICK HERE
BCA RESEARCH SEES US LABOR WEAKNESS DRIVING MORE STOCK DOWNGRADES IN 2026 CLICK HERE
US INDEXES MAKE A PLAY TO RECLAIM THEIR 50-DAY MOVING AVERAGE CLICK HERE
UK BANKS GAIN CONSENSUS UPGRADES AFTER Q3 EARNINGS BEAT CLICK HERE
EURO BONDS, UKRAINE PEACE PLAN AND RUSSIAN FROZEN ASSETS CLICK HERE
STOXX 600 SLIPS, EARNINGS MIXED BAG CLICK HERE
EUROPE BEFORE THE BELL: FUTURES FAIL TO CATCH FED RATE CUT HOPES CLICK HERE
FLYING BLIND ON A DOVISH WING CLICK HERE
Monitor
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