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Oct 28 2015

Apple lifts stocks; investors look ahead to Fed comments

Market Recap 10/27/15:

U.S. stocks fell modestly on Tuesday as investors held off on making big bets ahead of comments from the Federal Reserve, which could give insight into when the central bank will make changes to its interest rate policy. The Fed began a two-day meeting on Tuesday and will issue a statement Wednesday afternoon. While the central bank is not expected to raise rates this month – many analysts expect that will not occur until 2016 – uncertainty over when the first hike will come has fueled market volatility throughout the year. Separately, Wall Street was pressured by some disappointing results, including from Ford Motor Co (F).


Looking ahead:

U.S. stock index futures were higher on Wednesday, lifted alongside Apple (AAPL) after the tech giant reported earnings and sales that beat expectations, helped as revenue from China nearly doubled. Given Apple’s weight in major indexes, broader markets tracked the stock’s move, while sentiment should be improved by the company’s performance in China, as the impact of slowing growth in the region has been a major concern for investors. On the downside, Twitter (TWTR) fell a day after the stock gave a disappointing revenue outlook and weak user growth. Trading could get volatile in the afternoon with the release of the Fed statement. Make sure you don’t miss this week’s Money Matters with Gary Goldberg, where the guest will be former Russian chess Grandmaster Garry Kasparov, who will be discussing his book, Winter is Coming: Why Vladimir Putin and the Enemies of the Free World Must be Stopped. The show will air Sundays at 11 on WOR710. Visit our website for more details.