By Liz Moyer
Investing.com -- U.S. stocks were trading lower as investors pause before next week’s interest rate decision by the Federal Reserve.
On Monday, stocks sold off meetings .the Fed will continue with its rate-hiking path for longer. It is widely expected to raise rates again next week, but perhaps by a smaller half-percentage point increment than at each of its four previous
The fear was fueled by better-than-expected data on the services industry, adding to a better-than-expected report on jobs last Friday. Stronger data could give the Fed reason to continue on its rate path for longer.
Also hanging in the balance: the results of a runoff election today in Georgia, a key battleground state. The vote could determine the balance in the Senate, where Democrats hold a razor-thin majority.
A win by incumbent Democrat Sen. Raphael Warnock could give the party 51 seats in the Senate, while a victory by Republican candidate and former football star Herschel Walker could give the GOP power to block initiatives.
GitLab Inc (NASDAQ: GTLB ) shares are up 8.9% after it beat expectations on sales and reported a smaller-than-expected loss for the quarter. Signet Jewelers Ltd (NYSE: SIG ) shares jumped 16% after it reported profit per share that was more than double expectations and met expectations with a 7.6% drop in same-store sales.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.