Stock market today: Dow, S&P 500 poised for more losses as Fed rate-cut doubts build

Published On Oct 22, 2024, 6:30 AM

US stock futures indicate a potential decline for the Dow and S&P 500 today due to growing doubts over the Federal Reserve's plans for interest rate cuts, amidst concerns about economic strength and upcoming earnings reports. Investors are particularly attentive to rising Treasury yields and their impact on rate-sensitive sectors such as real estate. Key earnings from companies like General Motors and Tesla are also on the horizon, which may influence market sentiment further.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

SPY View SPY chart on TradingView

Negative

Given the current economic indicators, the expected continuation of elevated interest rates, and the impending earnings reports which may not meet investor expectations, it is likely that the market will face downward pressure today.

VNQ View VNQ chart on TradingView

Negative

As market participants reevaluate their positions in the face of economic uncertainty and rising yields, stocks in the real estate sector could underperform. Factors including increased borrowing costs are leading to diminished investor appetite for these stocks.

GLD View GLD chart on TradingView

Positive

With the recent pressure on stocks and uncertainty in the economic outlook, it might be wise to consider safe haven assets. Gold, traditionally viewed as a hedge against market volatility, is gaining traction.

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