Trading muted with Fed decision to follow on Wednesday
How are stock-index futures trading On Monday, the Dow Jones Industrial Average DJIA rose 529 points, or 1.58%, to 34005, the S&P 500 SPX increased 56 points, or 1.43%, to 3991, and the Nasdaq Composite COMP gained 139 points, or 1.26%, to 11144. The Nasdaq Composite is up 8% from its 2022 low hit in mid October, but remains down 28.8% for the year to date.
“It’s been a do-nothing day as investors take stock before the onslaught of a series of high-risk events,” said Stephen Innes, managing partner at SPI Asset Management. “We don’t get many days as important as the next two, and the U.S. CPI today and the FOMC [Fed] tomorrow are likely to be the difference between a big Santa Claus rally and a visit from Scrooge ahead of Christmas,” said Jim Reid, strategist at Deutsche Bank, in a morning note.
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