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*Stock Market Today: Stocks edge higher, Treasury yields slip ahead of Fed meeting*

Updated at 7:03 am EDT U.S. equity futures edged higher in early Tuesday trading, following on from their strongest session in two months, with major indices are still on pace for the worst monthly performance of the year as high interest rates, mounting geopolitical risks and softer-than-expected earnings from mega-cap tech stocks hold down gains heading into the final months of the year. Investors found some relief from the recent surge in Treasury bond yields late Monday, however, with those moves spilling over into the overnight session, following a smaller-than-expected $776 billion borrowing target issued by the Treasury. That tally, around $76 billion lighter than forecasts, came just hours ahead of a Bank of Japan rate decision that included faster inflation forecasts and a wider trading band for Japanese government bonds, both of which are unlikely to alter the demand for U.S. Treasuries from Japan based investment funds. Benchmark 10-year Treasury note yields were marked 3 basis points lower on the overnight session at 4.820%, and down nearly 20 basis points from the 2007 highs reached last week, while two-year notes were pegged at 5.023%. The U.S. dollar index was marked 0.14% lower against a basket of its global peers in early New York trading, at 105.975, although the yen fell the most in two months to 150.39 against the greenback and slump to the lowest levels since 2008 against the European single currency. With a steadier rate backdrop, stocks are likely to focus on another parade of S&P 500 earnings Tuesday, including before-the-bell updates from Pfizer (PFE) - Get Free Report and Caterpillar (CAT) - Get Free Report and a report from chipmaker Advanced Micro Devices (AMD) - Get Free Report after the bell. With around half of the S&P 500 reporting so far, overall earnings are forecast to rise 4.3% from last year to a share-weighted $478.2 billion, according to LSEG data, before rising another 8.5% over the fourth quarter. The Federal Reserve also begins its two-day policy meeting today, with its interest rate decision slated for 2:00 pm Eastern time on Tuesday. Markets are still betting that rates will remain steady at between 5.25% and 5.5%, and see no better than a 30% chance of a rate hike over the next seven months. Global oil prices were moving higher in early New York trading as Israel began targeting areas in and around Lebanon as it attempted to neutralize Iran-backed Hezbollah militants while expanding its incursion into Gaza. Brent crude contracts for December delivery, the global pricing benchmark, added 95 cents to trade at $88.40 per barrel while WTI contacts for the same month rose 84 cents to $83.15 per barrel. Heading into the start of the trading day on Wall Street, futures contracts tied to the S&P 500 are priced for a 10 point opening bell gain while those tied to the Dow Jones Industrial Average are indicating a 130 point advance. Futures tied to the Nasdaq are priced for a 13 point advance. In overseas markets, European stocks are on pace for their worst monthly performance in more than a year, although the Stoxx 600 was marked 0.59% higher in early Frankfurt trading amid another busy earnings session. Overnight in Asia, Japan's Nikkei 225 ended the session 0.53% higher following the Bank of Japan rate decision, while a softer-than-expected reading for factory activity in China, which slipped into contraction for the month of October, kept the region-wide MSCI ex-Japan benchmark 0.71% lower heading into the final hours of trading. Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
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Stock Market Today: Stocks edge higher, Treasury yields slip ahead of Fed meeting

Updated at 7:03 am EDT U.S. equity futures edged higher in early Tuesday trading, following on from their strongest session in two months, with major indices are still on pace for the worst monthly performance of the year as high interest rates, mounting geopolitical risks and softer-than-expected earnings from mega-cap tech stocks hold down gains heading into the final months of the year. Investors found some relief from the recent surge in Treasury bond yields late Monday, however, with those moves spilling over into the overnight session, following a smaller-than-expected $776 billion borrowing target issued by the Treasury. That tally, around $76 billion lighter than forecasts, came just hours ahead of a Bank of Japan rate decision that included faster inflation forecasts and a wider trading band for Japanese government bonds, both of which are unlikely to alter the demand for U.S. Treasuries from Japan based investment funds. Benchmark 10-year Treasury note yields were marked 3 basis points lower on the overnight session at 4.820%, and down nearly 20 basis points from the 2007 highs reached last week, while two-year notes were pegged at 5.023%. The U.S. dollar index was marked 0.14% lower against a basket of its global peers in early New York trading, at 105.975, although the yen fell the most in two months to 150.39 against the greenback and slump to the lowest levels since 2008 against the European single currency. With a steadier rate backdrop, stocks are likely to focus on another parade of S&P 500 earnings Tuesday, including before-the-bell updates from Pfizer (PFE) - Get Free Report and Caterpillar (CAT) - Get Free Report and a report from chipmaker Advanced Micro Devices (AMD) - Get Free Report after the bell. With around half of the S&P 500 reporting so far, overall earnings are forecast to rise 4.3% from last year to a share-weighted $478.2 billion, according to LSEG data, before rising another 8.5% over the fourth quarter. The Federal Reserve also begins its two-day policy meeting today, with its interest rate decision slated for 2:00 pm Eastern time on Tuesday. Markets are still betting that rates will remain steady at between 5.25% and 5.5%, and see no better than a 30% chance of a rate hike over the next seven months. Global oil prices were moving higher in early New York trading as Israel began targeting areas in and around Lebanon as it attempted to neutralize Iran-backed Hezbollah militants while expanding its incursion into Gaza. Brent crude contracts for December delivery, the global pricing benchmark, added 95 cents to trade at $88.40 per barrel while WTI contacts for the same month rose 84 cents to $83.15 per barrel. Heading into the start of the trading day on Wall Street, futures contracts tied to the S&P 500 are priced for a 10 point opening bell gain while those tied to the Dow Jones Industrial Average are indicating a 130 point advance. Futures tied to the Nasdaq are priced for a 13 point advance. In overseas markets, European stocks are on pace for their worst monthly performance in more than a year, although the Stoxx 600 was marked 0.59% higher in early Frankfurt trading amid another busy earnings session. Overnight in Asia, Japan's Nikkei 225 ended the session 0.53% higher following the Bank of Japan rate decision, while a softer-than-expected reading for factory activity in China, which slipped into contraction for the month of October, kept the region-wide MSCI ex-Japan benchmark 0.71% lower heading into the final hours of trading. Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
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*Apple stocks slips following new MacBook, chip line-up ahead of Q4 earnings*

Apple (AAPL) - Get Free Report shares edged lower in pre-market trading following the tech giant's unveiling of new MacBook computes, powered by a new line of high-performance chips, just days ahead of its highly-anticipated fourth quarter earnings. The new line-up of MacBooks, which are priced between $1,299 and $2,499, are expected to launch over the coming weeks and provide some support for Apple's product sales over the holiday quarter, following a disappointing spring and uncertain demand over the summer months. Apple is also advancing its drive into chip design following its split with Intel INTC in 2020, with the new MacBooks powered by a trio of new chips, the M3, the M3 Pro and the M3 Max, the latter of which can be used for AI developers and could be seen as an early challenge to Nvidia (NVDA) - Get Free Report early market dominance. Apple will publish its fourth quarter earnings after the close of trading Thursday, with analysts looking for a bottom line of $1.39 per share, up 7.8% from the same period last year, on revenues of $89.28 billion. Key to the update, however, will be Apple's forecast for the holiday quarter, with sales of the new MacBooks now a crucial factor following suggestions that take-up of the new iPhone 15 has been weaker-than-expected in key markets, including the U.S. and China, following its launch in early September. Apple shares were marked 0.32% lower in pre-market trading to indicate a Tuesday opening bell price of $169.75 each. Get exclusive access to portfolio managers and their proven investing strategies with Real Money Pro. Get started now.
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Apple stocks slips following new MacBook, chip line-up ahead of Q4 earnings

Apple (AAPL) - Get Free Report shares edged lower in pre-market trading following the tech giant's unveiling of new MacBook computes, powered by a new line of high-performance chips, just days ahead of its highly-anticipated fourth quarter earnings. The new line-up of MacBooks, which are priced between $1,299 and $2,499, are expected to launch over the coming weeks and provide some support for Apple's product sales over the holiday quarter, following a disappointing spring and uncertain demand over the summer months. Apple is also advancing its drive into chip design following its split with Intel INTC in 2020, with the new MacBooks powered by a trio of new chips, the M3, the M3 Pro and the M3 Max, the latter of which can be used for AI developers and could be seen as an early challenge to Nvidia (NVDA) - Get Free Report early market dominance. Apple will publish its fourth quarter earnings after the close of trading Thursday, with analysts looking for a bottom line of $1.39 per share, up 7.8% from the same period last year, on revenues of $89.28 billion. Key to the update, however, will be Apple's forecast for the holiday quarter, with sales of the new MacBooks now a crucial factor following suggestions that take-up of the new iPhone 15 has been weaker-than-expected in key markets, including the U.S. and China, following its launch in early September. Apple shares were marked 0.32% lower in pre-market trading to indicate a Tuesday opening bell price of $169.75 each. Get exclusive access to portfolio managers and their proven investing strategies with Real Money Pro. Get started now.
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*AMD earnings on deck with AI ramp, China export restrictions in focus*

Advanced Micro Devices (AMD) - Get Free Report shares edged modestly higher in pre-market trading ahead of the chipmaker's first quarter earnings, which are expected after the closing bell. AMD, which has been touting its AI potential through its leadership position in data center chips, is expected to see its bottom line nudge higher to 68 cents per share, over the three months ending in September, its fiscal first quarter, with revenues rising 2.33% to $5.7 billion. CEO Lisa Su pegged September quarter revenues in the region of $5.7 billion, plus or minus $300 million, with gross margins of around 51%, when she last spoke with investors in early August. AMD's near-term outlook will also be in focus after Su noted that the group was on track to ramp up production of its new-generation chips to meet a surge in AI demand, a market she said would grow to around $150 billion by 2027. The new chips are expected to ship in volumed by the fourth quarter of this year, with reports suggesting Amazon (AMZN) - Get Free Report and Microsoft (MSFT) - Get Free Report could be potential customers. "Despite modest risk to 4Q guidance given the pushout of MI300A volumes and a more measured Genoa ramp, investors will likely look through any near-term miss in anticipation of a December MI300X launch event and Microsoft onstage endorsement, providing a clear catalyst for the stock into the end of the year," said KeyBanc Capital Markets analyst John Vinh, who carries and 'overweight' rating and a $160 price target on the stock. Investors will also look for a detailed impact from expanded restrictions on the sale of advanced technologies to China, unveiled earlier this month by U.S. Trade Secretary Gina Raimondo. The new restrictions, which expand upon new export rules put in place last year, are designed to limit China's access to "advanced semiconductors that could fuel breakthroughs in artificial intelligence and sophisticated computers that are critical to (Chinese) military applications," Raimondo said. China’s Ministry of Foreign Affairs described those efforts as "economic coercion and sci-tech bullying" earlier this year and described the moves as "against the principles of market economy and fair competition." AMD shares were marked 0.1% higher in pre-market trading to indicate an opening bell price of $96.27 each, a move that would nudge the stock's six-month gain to around 7.5%. Get exclusive access to portfolio managers and their proven investing strategies with Real Money Pro. Get started now.
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AMD earnings on deck with AI ramp, China export restrictions in focus

Advanced Micro Devices (AMD) - Get Free Report shares edged modestly higher in pre-market trading ahead of the chipmaker's first quarter earnings, which are expected after the closing bell. AMD, which has been touting its AI potential through its leadership position in data center chips, is expected to see its bottom line nudge higher to 68 cents per share, over the three months ending in September, its fiscal first quarter, with revenues rising 2.33% to $5.7 billion. CEO Lisa Su pegged September quarter revenues in the region of $5.7 billion, plus or minus $300 million, with gross margins of around 51%, when she last spoke with investors in early August. AMD's near-term outlook will also be in focus after Su noted that the group was on track to ramp up production of its new-generation chips to meet a surge in AI demand, a market she said would grow to around $150 billion by 2027. The new chips are expected to ship in volumed by the fourth quarter of this year, with reports suggesting Amazon (AMZN) - Get Free Report and Microsoft (MSFT) - Get Free Report could be potential customers. "Despite modest risk to 4Q guidance given the pushout of MI300A volumes and a more measured Genoa ramp, investors will likely look through any near-term miss in anticipation of a December MI300X launch event and Microsoft onstage endorsement, providing a clear catalyst for the stock into the end of the year," said KeyBanc Capital Markets analyst John Vinh, who carries and 'overweight' rating and a $160 price target on the stock. Investors will also look for a detailed impact from expanded restrictions on the sale of advanced technologies to China, unveiled earlier this month by U.S. Trade Secretary Gina Raimondo. The new restrictions, which expand upon new export rules put in place last year, are designed to limit China's access to "advanced semiconductors that could fuel breakthroughs in artificial intelligence and sophisticated computers that are critical to (Chinese) military applications," Raimondo said. China’s Ministry of Foreign Affairs described those efforts as "economic coercion and sci-tech bullying" earlier this year and described the moves as "against the principles of market economy and fair competition." AMD shares were marked 0.1% higher in pre-market trading to indicate an opening bell price of $96.27 each, a move that would nudge the stock's six-month gain to around 7.5%. Get exclusive access to portfolio managers and their proven investing strategies with Real Money Pro. Get started now.
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*Caterpillar shares jump as construction spending powers Q3 earnings beat*

Caterpillar (CAT) - Get Free Report posted much stronger-than-expected third quarter earnings Tuesday, thanks in part to higher construction equipment demand linked to the ongoing support from government infrastructure spending. Caterpillar said adjusted profits for the three months ending in September were pegged at $5.52 per share, up nearly 40% from the same period last year and well ahead of the Street consensus forecast of $4.79 per share. Group revenues, Caterpillar said, rose 12.1% to $16.8 billion, a figure that topped analysts' estimates of a $16.52 billion tally. Operating profit margin was 20.5% for the quarter, well ahead of the 16.2% tally recorded last year but down from 21.1% over the three months ending in June. "I'd like to thank our global team for delivering another great quarter, as demonstrated by double-digit top-line growth, strong adjusted operating profit margin and robust ME&T free cash flow," said CEO Jim Umpleby. "We remain focused on supporting our customers' success and executing our strategy for long-term profitable growth." Caterpillar shares were marked 3.25% higher in pre-market trading immediately following the earnings release to indicate an opening bell price of $250.00 each. Construction sales were up 19% to $3.35 billion, Caterpillar said, "driven by the impact from changes in dealer inventories and higher sales of equipment to end users." Resource, energy and transportation sales were up 27% to $7.23 billion thanks to "primarily due to higher sales volume and favorable price realization.Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
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Caterpillar shares jump as construction spending powers Q3 earnings beat

Caterpillar (CAT) - Get Free Report posted much stronger-than-expected third quarter earnings Tuesday, thanks in part to higher construction equipment demand linked to the ongoing support from government infrastructure spending. Caterpillar said adjusted profits for the three months ending in September were pegged at $5.52 per share, up nearly 40% from the same period last year and well ahead of the Street consensus forecast of $4.79 per share. Group revenues, Caterpillar said, rose 12.1% to $16.8 billion, a figure that topped analysts' estimates of a $16.52 billion tally. Operating profit margin was 20.5% for the quarter, well ahead of the 16.2% tally recorded last year but down from 21.1% over the three months ending in June. "I'd like to thank our global team for delivering another great quarter, as demonstrated by double-digit top-line growth, strong adjusted operating profit margin and robust ME&T free cash flow," said CEO Jim Umpleby. "We remain focused on supporting our customers' success and executing our strategy for long-term profitable growth." Caterpillar shares were marked 3.25% higher in pre-market trading immediately following the earnings release to indicate an opening bell price of $250.00 each. Construction sales were up 19% to $3.35 billion, Caterpillar said, "driven by the impact from changes in dealer inventories and higher sales of equipment to end users." Resource, energy and transportation sales were up 27% to $7.23 billion thanks to "primarily due to higher sales volume and favorable price realization.Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
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*Stocks mixed into Fed meeting, new Apple MacBooks, Caterpillar and Pfizer earnings, AMD on Deck - Five Things To Know*

Five things you need to know before the market opens on Tuesday October 31:1. -- Stock Market Today: Stocks mixed, Treasury yields steady ahead of Fed meeting Stocks are on pace for their worst month of the year this October, with higher Treasury yields, mounting geopolitical risks and muted big tech earnings holding down gains.2. -- Apple stocks slips following new MacBook, chip line-up ahead of Q4 earnings Investors are looking for Apple's new MacBook line-up to support a softening of sales for its iPhone 15 heading into the holiday quarter.3. -- Caterpillar shares jump as construction spending powers Q3 earnings beat Caterpillar shares will provide a solid boost for the Dow after the construction equipment giant posted much stronger-than-expected third quarter earnings.4. -- AMD earnings on deck with AI ramp, China export restrictions in focus AMD, which is looking to ramp its new generation of AI chips, will post fiscal first quarter earnings after the close of trading Tuesday.5. -- Pfizer posts narrower Q3 loss amid slumping Covid vaccine sales Pfizer, which warned of a $5.5 billion writedown of its Covid treatment inventories earlier this month, posted a narrower-than-expected third quarter loss Tuesday.
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