Stocks Rally Ahead of Fed Meeting and Earnings Reports, Though Major Indexes Still Face Losses for October
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Stocks surged Monday as investors looked ahead to the Federal Reserve's meeting and economic data this week. The Dow jumped 564 points, the S&P 500 added 1.4%, and the Nasdaq rose 1.4%.
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The Fed reveals its next interest rate decision Wednesday. Traders expect a pause in hikes but will look for clues on future policy.
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Corporate earnings are in focus, with Apple, McDonald's, and others reporting this week.
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The October jobs report Friday could influence bond yields and provide hints on the Fed's final rate hike this year.
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The major indexes are on pace to end October lower, despite Monday's rally. The S&P 500 closed in correction territory last week.