Stocks Rise Ahead of Fed Meeting and Apple Earnings; McDonald's Sales Grow Despite Economy
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US stocks rose on Monday ahead of the Fed's policy decision and Apple earnings later this week. The S&P 500 entered correction territory on Friday.
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Investors are closely watching the Fed's meeting on Wednesday for signals on future rate hikes. Apple reports earnings on Thursday.
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McDonald's stock rose after beating Q3 earnings estimates. Higher menu prices boosted sales growth despite macro concerns.
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GM reached a tentative deal with the UAW union, ending the strike that halted auto production. Deal terms mirror pacts by Ford and Stellantis.
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Oppenheimer lowered its S&P 500 target to 4400 from 4900, still constructive but more realistic amid higher rates and geopolitical tensions.