LIVE MARKETS-S&P 500, Nasdaq strive for five
Main U.S. indexes modestly green: Nasdaq out front, up ~0.6%
U.S. Oct Leading Index change MM -0.8% vs -0.7% estimate
Euro STOXX 600 index ~flat
Dollar, gold dip; crude up ~2%; bitcoin up ~2.5%
U.S. 10-Year Treasury yield edges up to ~4.46%
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S&P 500, NASDAQ STRIVE FOR FIVE
Wall Street’s main indexes are modestly higher early on Monday as investors await more clues on when the Federal Reserve might begin cutting interest rates, while Microsoft is gaining on news that former OpenAI head Sam Altman will join the software giant.
With this, Microsoft (MSFT.O) is rising more than 1% and providing the biggest boost to the overall S&P 500 index (.SPX) , as well as the day’s top performing sector so far, tech (.SPLRCT) .
Energy (.SPNY) is also among stronger groups. NYMEX crude futures (CLc1) are up around 2% on expectations of further OPEC+ supply cuts.
Meanwhile, the SPX, at around 4,525, is attempting to rise for a fifth-straight day, as it pushes further into a thorny Fibonacci retracement zone that runs from around 4,505 to just over 4,535.
The tech-laden Nasdaq (.IXIC) is also attempting to gain for a fifth-day in a row.
Here is a snapshot of where markets stood just shortly after 1000 EST:
MONDAY’S LIVE MARKETS POSTS SINCE 0900 EST/1400 GMT:
U.S. 10-YEAR TREASURY YIELD’S MONTHLY WIN STREAK IN JEOPARDY - CLICK HERE
FOR MONDAY’S LIVE MARKETS POSTS PRIOR TO 0900 EST/1400 GMT - CLICK HERE
(Terence Gabriel is a Reuters market analyst. The views expressed are his own)