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Stock market today: Live updates


A trader works on the floor of the New York Stock Exchange on Oct. 20, 2023.

Michael Nagle | Bloomberg | Getty Images

U.S. stock futures were flat Monday night after the major averages climbed in a relief rally. 

S&P 500 futures and Nasdaq 100 futures inched lower by 0.04% and 0.03%, respectively. Futures tied to the Dow Jones Industrial Average oscillated near the flat line.

During Monday’s trading session, the S&P 500 managed to pull out of correction territory and close 1.2% higher for its best day since late August. The Nasdaq Composite added about 1.2%, while the Dow jumped approximately 1.6% in its best day since early June.

“I don’t quite trust [Monday’s rally] because I do think some of the fundamentals are starting to change,” Anastasia Amoroso, iCapital chief investment strategist, told CNBC’s “Closing Bell: Overtime” on Monday. However, “coming into this week, we did hit some oversold levels,” she added. Corporate buybacks are likely to return as earnings season rolls on, she added, which could further justify a case for a bounce back. 

The major averages remain on pace to end the month in the red. The Dow and the S&P 500 are down 1.7% and 2.8% in October, respectively, in their third consecutive negative month. This marks the first three-month losing streak for both indexes since March 2020. The tech-heavy Nasdaq has declined more than 3% month to date, also on pace for its third negative month in a row.

Wall Street is also keeping a close eye on the Fed’s next decision on interest rates this Wednesday. Fed funds futures pricing suggests a roughly 98% probability that the central bank will keep rates at current levels, according to the CME FedWatch Tool.

“I actually expect that that might be a bullish development, because Fed Chair Powell sort of alluded to the case that the fact that Treasury yields rose across the curve means they might be done tightening,” said Amoroso.

Investors are also hoping that October’s payrolls report, which will be released Friday, will indicate some slowdown in the labor market. 

Traders will also be watching for earnings results Tuesday from Caterpillar, Pfizer, Caesars Entertainment and chipmaker Advanced Micro Devices. Tech giant Apple is scheduled to release its quarterly earnings Thursday after the bell, in one of the most widely anticipated reports this earnings season.



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