Markets Commentary as of Friday Close of 11/3/2023
| Index | Price | Price Change | % Change |
| Dow Jones Industrial Average Index | 34,061.32 | +222.24 | +0.66% |
| NASDAQ Composite Index | 13,478.283 | +184.093 | +1.38% |
| S&P 500 Index | 4,358.34 | +40.56 | +0.94% |
On Tuesday, the Federal Reserve’s penultimate rate decision of the year was the center of attention as U.S. stocks ended in the green. The third straight month of losses for the S&P 500 (SP500) was experienced, marking its longest such slide since the first quarter of 2020.
The benchmark index closed at 4,193.76 points on Halloween, rising 0.65%, but sliding 2.20% for the month. For the first time since 2016, the average has fallen in each of August, September and October.
A 0.38% increase was observed in the blue chip Dow (DJI), settling at 33,052.74 points, while the tech-heavy Nasdaq Composite (COMP.IND) climbed 0.48% to finish at 12,851.24 points.
Positive territory was observed in all 11 sectors, with Real Estate and Communication Services leading the way.
According to Andrew Hecht, investing group leader of Hecht Commodity Report, “The leading stock market indices were steady going into tomorrow’s FOMC meeting. The Fed Funds Rate at the 5.375% midpoint will likely be paused by the Fed. Inflation indicators remain elevated, and the geopolitical landscape is uncertain with wars in Ukraine and the Middle East. Gold is hovering around the $2K level, and nearby NYMEX crude oil prices have backed off to the $82 per barrel level. Be careful in markets as they will likely react to geopolitical events, which can provide volatile surprises in markets across all asset classes” .
The Dow (DJI) was down 1.36%, and the Nasdaq (COMP.IND) was down 2.78% for the month. The pullback has been due to a combination of factors, including a bruising bond sell-off that put pressure on equities, geopolitical concerns fueled by the wars in Ukraine and the Middle East, and inflation indicators remaining elevated . The stock futures as of the hour is as below:
DOW34,061.320.66%
S&P 5004,358.340.94%
NASDAQ13,478.281.38%
This year’s Top Performing Stocks
Ranked #1 in Top Performers
Katapult Holdings, Inc. is an e-commerce focused financial technology company, which engages in the provision of e-commerce point-of-sale (“POS”) lease-purchase options for nonprime U.S. consumers.
$10.81PRICE
$0.3DAILY CHANGE
2.85%PERCENT CHANGE
RETURNS DATA
RETURNS 1-YEAR
996.73%
RETURNS 5-YEAR
N/A
P/E RATIO(TTM)
N/A
Skillsoft Corp. – Ordinary Shares – Class A SKIL
Ranked #2 in Top Performers
Skillsoft Corp. engages in the provision of enterprise learning solutions. It operates through the Skillsoft Content and Global Knowledge segments. T
$18.58PRICE
$0.03DAILY CHANGE
0.16%PERCENT CHANGE
RETURNS DATA
RETURNS 1-YEAR
984.8%
RETURNS 5-YEAR
N/A
P/E RATIO(TTM)
N/A
