Markets hold steady as November kicks off, awaiting the Fed's call

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Business

November 02, 2023

By Rahul

Stocks held steady Wednesday as Wall Street awaited the Fed's rate decision.

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Dow Jones Industrial Average rose marginally. 

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The S and P 500 climbed 0.1%, and the Nasdaq Composite advanced 0.3%.

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I.T Stocks outperformed gaining 0.8%, Nvidia was higher by more than 1%. 

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Treasury reveals bond sale plans amid mounting U.S. debt concerns.

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The 10-year Treasury yield slipped slightly after the Treasury announcement.

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The ADP reported on Wednesday that private sector payrolls for October were lower than anticipated. 

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Companies added 113,000 workers last month.

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lower than the 130,000 anticipated polled by the Dow Jones.

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Investors focused on Washington in anticipation of the Fed's upcoming policy statement.

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Decision set for 2 p.m., followed by Chair Jerome Powell's presser at 2:30 p.m.

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That is the ongoing, constant tightening that will persist. Boockvar Peter, 

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CIO of Bleakley Advisory Group said on CNBC’s “Fast Money.”

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Advanced Micro Devices rose more than 2%.

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