Wall Street on course for monthly advance

Despite stocks dipping in and out of the red throughout the trading session, today’s net moves on Wall Street have been negligible, leaving the major benchmarks significantly higher than they began October.

Heading into the final hour of trading on Wall Street, the major stock indices were just about flat: the Dow was down 0.05% at 15,611, with the S&P 500 unchanged add the NASDAQ 100 up 0.08%. As we head into November, that leaves the Dow up more than 3% for the month, and just 0.7% away from the all-time high struck earlier this week.

One of the more interesting sets of data today, was the Chicago PMI, which curiously showed no ill effects from the government shutdown in any way. The report showed overall business activity at extremely high levels, and it will be fascinating to see if this is reflected in tomorrow’s manufacturing data. We have two major reports on that sector from Markit and the Institute for Supply Managements (ISM). The ISM manufacturing index has already been showing strength, rising to 56.3 in September (anything above 50 indicates expansion).

We also get to hear from some individuals from the Fed, and it will be interesting to hear their take on the official statement given by the Fed for October, which was open to fairly wide interpretation. President of the St Louis Fed James Bullard is speaking on monetary policy early in the US day, and we will also get to hear from Naryana Kocherlakota, the head of the Minneapolis Fed, and Jeffrey Lacker, the head of the Richmond Fed.

Earnings continue with Dow-component Chevron.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.