By Liz Moyer
Investing.com -- U.S. stocks opened lower on Monday as investors tried to close out the month on a positive note ahead of the Federal Reserve’s next meeting this week.
Corporate earnings have been mixed this month, and investors are hoping a few new data points on inflation and consumer confidence convince the Fed to ease off on the pace of its interest rate increases after this week’s meeting . The central bank is to raise its benchmark rate this week by a 0.75 percentage point for the fourth time in a row.
The jobs report for October is due out on Friday.
Stocks have been surging despite some downbeat reports from big tech companies, with the S&P and Nasdaq scoring two consecutive weeks of gains. The Dow is up 14% this month heading into the final day of trading.
Wynn Resorts Limited (NASDAQ: WYNN ) shares rose 8.8% after investor Tilman Fertitta disclosed a 6.1% stake.
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