What To Do Ahead Of The Fed Meeting

Dow Jones futures were higher ahead of Tuesday’s open, as the Federal Reserve’s two-day meeting gets set to start. The Dow Jones Industrial Average had its best month since 1976, surging nearly 14% in October.

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Late Monday, Arista Networks (ANET) and Apple supplier NXP Semiconductors (NXPI) were key earnings movers. ANET stock fell 1% in extended trade, while NXPI shares rose around 1%.

The Fed’s two-day meeting kicks off Tuesday, with an interest-rate decision set for Wednesday afternoon. Investor sentiment shows an 85% probability of a 75-basis-point hike, according to the CME.

The Fed says it won’t pivot — meaning slow its pace of rate increases —until the strong labor market shows clear signs of slowing. But once the job market begins to roll over, Fed strategy and a broad array of economy factors are likely to change. This places Friday’s jobs report under increased scrutiny.

Stock Market Today

On Monday, the Dow Jones Industrial Average fell 0.4% and the S&P 500 lost 0.7%. The tech-heavy Nasdaq composite sold off 1%.

Among exchange traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) moved down 1.2% and SPDR S&P 500 (SPY) dropped 0.7%.

EV giant Tesla (TSLA) declined 0.4% Monday. Among Dow Jones stocks, Apple (AAPL) traded down 1.5% and Microsoft (MSFT) lost 1.6% in today’s stock market.

Among the top stocks to buy and watch, Dycom (DY), Cheniere Energy (LNG), Dollar General (DG) and Pure Storage (PSTG) — as well as Dow Jones names Chevron (CVX) and UnitedHealth Group (UNH) — are among the top stocks to buy and watch. Keep in mind that the ongoing stock market rally is the perfect time for investors to look for stocks in their buy zones.

Cheniere is an IBD Leaderboard stock. Dollar General is an IBD SwingTrader stock. Pure Storage was featured in this week’s Stocks Near A Buy Zone column, along with three other top stock ideas.

4 Top Growth Stocks To Buy And Watch In The Current Stock Market Rally

Dow Jones Futures Today: Treasury Yields, Oil Prices

Ahead of Tuesday’s opening bell, Dow Jones futures rose 0.5% above fair value, while S&P 500 futures moved up 0.8%. Nasdaq 100 futures gained 1.1% vs. fair value. Remember that overnight action in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

The 10-year Treasury yield ticked higher to 4.07% Monday, recovering a part of last week’s losses. Meanwhile, U.S. oil prices declined 2% as West Texas Intermediate futures traded near $86 a barrel.

Earnings Season: AMD Earnings On Deck

Third-quarter earnings season continues this week, with key reports coming from energy giant BP (BP), Eli Lilly (LLY), Uber Technologies (UBER) and Dow Jones stock Pfizer (PFE). All four are set to report Tuesday morning. Advanced Micro Devices (AMD) and Airbnb (ABNB) will report after the close Tuesday.

Earnings reports cause many of the biggest moves in stocks, and they require special focus. Strong earnings can…