Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
US pre-open: Stocks to extend gains after Fed meeting
(Sharecast News) - US stocks were expected to rise for the fourth straight day on Thursday as investors continued to show optimism that the Federal Reserve could potentially have reached the end of its rate-hiking cycle. Futures on the Dow Jones Industrial Average were up 0.3% early on, while the S&P 500 rose 0.5% and the Nasdaq gained 0.7%. The S&P 500 has risen every day this week after hitting a five-month low last Friday.
Stocks advanced on Wednesday after the conclusion of the two-day Federal Open Market Committee meeting, at which policymakers kept rates unchanged for the second straight meeting. While chair Jerome Powell didn't go as far as calling time on future rate hikes, many believed his comments at the following press conference were relatively dovish.
"Powell kept the door open to a rate hike in December, but did not seem very eager," said Philip Marey, analyst at Rabobank. "We still expect the bond market to do the Fed's work, making a December hike redundant."
Acting as a backdrop, both ISM manufacturing and ADP private-job creation data came in well below forecasts, adding to expectations that the US economic growth may be starting to cool, in signs that restrictive financial conditions are working.
Initial jobless claims data is due out at 0830 ET and expected to show claims remaining flat in the week to 27 October at 210,000, as the focus begins to turn to the government's official non-farm payrolls figure, expected on Friday.
Also helping sentiment was newsflow from Israel, where hopes of a temporary de-escalation in conflict rose after US president Joe Biden added to calls for a humanitarian "pause" to allow hostages being held in the Gaza Strip to be released.
All eyes on Apple
Tech titan Apple will be making headlines ahead of its latest earnings report due out after the closing bell. Analysts expect the company to report a 1% year-on-year sales decline to $89.3bn for the third quarter, while the market will keep a close eye on the current outlook, with the last three months of the year being Apple's most important in terms of revenue.
Starbucks shares soared after-hours following the coffee giant's quarterly earnings with smashed expectations. Same-store sales were up 8% on the back of improved average customer order sizes and increased footfall.
Disney futures were edging higher on the news that it is to pay Comcast $8.6bn for its minority stake in streaming service Hulu, giving the entertainment company complete control.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.