U.S. Stocks Fall as October Heads to a Close

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U.S. Stocks Fall as October Heads to a Close
Credit: © Reuters.

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.

At 9:52 ET (13:52 GMT), the Dow Jones Industrial Average was down 226 points or 0.7%, while the S&P 500 was down 0.8% and the NASDAQ Composite was down 1.2%.

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 widely expected 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. 

Oil fell. Crude Oil WTI Futures was down 1%, to $87.00 a barrel, while Brent Oil Futures was down 0.9% to $92.93 a barrel. Gold Futures fell 0.3% to $1639.

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