Monday's Markets Update (October 30, 2023)

31 Oct 2023 by rate3

On Monday, Texas business activity declined, but the Nasdaq rose on technicals and ahead of the Fed's interest rate decision, as well as Apple's earnings report. Technology, financial, and consumer discretionary stocks led the gains. Large-cap stocks, such as Alphabet, Microsoft, Amazon, and Meta, rose. Tesla and ON Semiconductor shares fell after the companies issued weak outlooks. BTC and ETH continued to consolidate below their key resistance levels at $35K and $1.8K, respectively.

Details

Texas general business activity in manufacturing activity declined for the 18th month in a row, with new orders falling at a faster pace. Output growth slowed, and shipments, wages, and employment growth all slowed as well.