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 open: Stocks mixed as investors eye Fed announcement
(Sharecast News) - US stocks were mixed at the open on Monday as investors awaited the Federal Reserve's last policy announcement of 2023. At 1535 GMT, the Dow Jones Industrial Average was 0.2% higher, while the S&P 500 and the Nasdaq were up 0.1% and down 0.3%, respectively.
The Fed is widely expected to maintain the funds rate in the 5.25%-5.5% range on Wednesday.
Joshua Mahony, chief market analyst at Scope Markets, said: "Inflation looks set to dominate this week, with tomorrows US CPI release likely to help outline the trajectory towards target. With energy prices having been hit hard under the weight of record US crude oil production, the headline inflation gauge looks primed to head lower despite somewhat cautious expectations.
"The eurozone November figure of -0.5% highlights the potential for US CPI to similarly post a negative monthly figure, which would undoubtedly help highlight a trajectory that may justify market expectations of a March return to target.
"Friday's US jobs report provided the basis for a more hawkish stance at the Fed this week, with markets gradually easing back on their rate cut expectations. With questions remaining over whether headline (3.2%) and core PCE (3.5%) inflation will hit target by March, the strength of the US jobs market highlights the potential for a relatively hawkish take from the Federal Reserve on Wednesday.
"The Federal Reserve forecasts should provide a strong basis for markets to base their expectations upon, and it has become quite apparent that the US jobs market remains incredibly resilient despite the restrictive actions of the Fed."
In corporate news, Macy's surged more than 15% after news broke that the retailer had received a $5.8bn buyout offer from an investor group consisting of Arkhouse Management and Brigade Capital.
Occidental Petroleum was in focus after agreeing to buy CrownRock, a privately-held oil and gas producer that operates in the Permian basin, for around $12bn.
BlackBerry was also in the spotlight after saying it has appointed industry veteran John J. Giamatteo as its new chief executive officer with immediate effect, and announcing plans to separate its IoT and cybersecurity businesses.
Elsewhere, Pinterest was boosted by a rating upgrade at RBC Capital Markets.
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.