Stocks looking for direction ahead of Fed meeting

FAN Editor

U.S. stocks traded cautiously ahead of the start of the Federal Reserve’s 2 day meeting.

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The three major futures indexes were little changed.

In the Monday session,  the benchmark S&P 500 hit a record high, at the onset of a week busy with corporate earnings and economic reports.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 27090.72 +132.66 +0.49%
SP500 S&P 500 3039.42 +16.87 +0.56%
I:COMP NASDAQ COMPOSITE INDEX 8325.985609 +82.87 +1.01%

The S&P 500 index closed at 3,039.42, around 14 points above its previous record set on July 26 and up 0.6 percent for the day. The Dow Jones Industrial Average gained 0.5 percent, but is still about 1 percent below its record set on July 15. The Nasdaq climbed 1 percent.

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Investors will also be looking ahead to Friday’s release of the October jobs report.

Shares were mixed in Asia and Chinese benchmarks fell Tuesday after Hong Kong’s leader warned that months of political protests are taking a harsh toll on the economy.

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Japan’s Nikkei 225 gained 0.5 percent, the Hang Seng in Hong Kong lost 0.4 percent and the Shanghai Composite dropped 0.9 percent.

The Associated Press contributed to this article.

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