Market Recap – November 1st
On Wednesday’s trading day, markets rallied after the Fed chose to hold interest rates from this new month’s FOMC meeting, leading to theories that rates will be held until the end of this year. After three months of poor performance, investors hope the major indices can make positive gains as the economy enters the holiday season. For the main indices, the S&P 500 grew 1.05%, the NASDAQ Composite went up 1.64%, and the Dow Jones rose 0.67%. Two individual companies to outperform the broader market gains were Advanced Micro Devices and Generac. Popular chipmaker AMD made stellar gains on Wall Street following third-quarter earnings and 2024 guidance that beat analysts’ expectations, with its shares rising 9.69% by the bell. Also in the green was generator builder Generac, positing a daily return of 14.35% after reporting both top and bottom lines that blew past forecasts from analysts’ polls.
Want to learn how to invest? Download the Invstr app, where you can play Fantasy Finance and manage a virtual investment portfolio, or open a brokerage account and invest for real. Take our interactive investing course on Invstr Academy and become a better investor today!
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.