It was a down day on Wall St. as stocks closed lower across the board. Investors continued to consider the possibility of a December rate hike and looked closely at 3rd quarter earnings.
According to CNBC:
“Should the economy show signs of improvement and global conditions do not worsen, the Federal Reserve has indicated it will raise interest rates soon. and the buzz around Wall Street is that the Federal Open Market Committee (FMOC) is leaning strongly toward hiking in December. However,what may transpire is that markets have just been treated to the latest sleight of hand by a central bank waiting for an ideal time to hike that may never come.”
Watch CNBC report below as to why the market is misreading the Fed statement re: raising interest rates.
Here are the final numbers from Thursday, 10/29/15 on Wall Street:
Dow Jones Industrial Average: 17,756.00 (-23.52/ -0.13%)
NASDAQ: 5,074.27 (-21.42/ -0.42%)
S&P 500: 2,089.41 (-0.94 / -0.04%)