Stock Market Today: Dow Jones, S&P 500, Nasdaq 100 Futures Drop After Fed Keeps Rates Unchanged

Benzinga

U.S. stocks declined Thursday, as the Dow Jones, S&P 500, and Nasdaq 100 index futures dropped after Wednesday's higher close.  U.S. real gross domestic product expanded at an annual rate of 3.4% in the third quarter according to the advance estimate, accelerating from 2.2% in the second quarter, while weekly initial jobless claims edged down by 1,000 to a seasonally adjusted 194,000 for the week ending Oct. 24.  Concurrently, the Bureau of Economic Analysis reported that September personal income rose 0.2% and consumer spending advanced 0.5%, as headline PCE inflation climbed 0.5% on the month (3.6% year-over-year) and core PCE—which strips out volatile food and energy costs—grew 0.3% over the prior month and 3.1% from a year ago.  The SPDR S&P 500 ETF Trust (NYSE: SPY), the Invesco QQQ Trust ETF (NASDAQ: QQQ) and the SPDR Dow Jones Industrial Average ETF Trust (NYSE: DIA), which track the S&P 500 index, Nasdaq 100 index and Dow Jones Industrial Average, respectively, were lower in premarket trading on Thursday. The SPY was down 0.44% at $768.88, the QQQ declined 1.30% to $716.17, and the DIA fell 0.31% to $523.06.

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00:00U.S. stocks were mixed Thursday, as the Dow Jones, S&P 500, and NASDAQ 100 index futures

00:06moved in different directions after Wednesday's higher close. The Federal Reserve held its

00:11benchmark interest rates steady at 3.75% to 4% on Wednesday, in line with market expectations,

00:19a month after its first rate hike in three years. The vote was 10 to 2, with Fed Governor Lisa

00:25Cook

00:25and Cleveland Fed President Beth Hammock dissenting in favor of a quarter-point hike,

00:30and the statement said inflation remains elevated. Meanwhile, the 10-year Treasury bond yielded 4.99%

00:38and the two-year Treasury bond yielded 4.67% at the last check. The CME Group's FedWatch tool

00:45projections show markets pricing in a 79.6% likelihood of the Federal Reserve hiking interest

00:52rates after its December meeting. The SPYder S&P 500 ETF Trust, the Invesco QQQ Trust ETF,

01:00and the SPYder Dow Jones Industrial Average ETF Trust were mixed in pre-market trading on Thursday.

01:06The SPY was down 0.23% at $770.55, the QQQ declined 0.99% to $718.40, and

01:19the DIA rose 0.59%

01:21to $527.79. Stocks in focus for today are Microsoft was 3.44% higher in pre-market trading on

01:32Thursday

01:32after reporting first quarter 2027 earnings of $4.89 per share on revenue of $92.28 billion

01:41after the closing bell on Wednesday. Alphabet was 10.07% lower in pre-market trading on Thursday

01:55after reporting third quarter 2026 earnings of $2.12 per share on revenue of $127.58 billion

02:04after the closing bell on Wednesday. T-Mobile US was 2.30% higher in pre-market trading on Thursday

02:19after reporting third quarter 2026 earnings of $3.22 per share on revenue of $23.58 billion

02:28after the closing bell on Wednesday. KLA was 2.05% higher in pre-market trading on Thursday

02:42after reporting first quarter 2027 earnings of $1.22 per share on revenue of $4.14 billion

02:50after the closing bell on Wednesday. Amazon.com was 0.92% lower in pre-market trading on Thursday

03:04as analysts expect third quarter 2026 earnings of $1.96 per share on revenue of $202.31 billion

03:13after the closing bell. Thank you for watching and make sure to subscribe.

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