The S&P 500 Index ($SPX) (SPY) today is off -0.40%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.88%, and the Nasdaq 100 Index ($IUXX) (QQQ) is off -0.35%.
Stocks are churning today and are trading mostly lower ahead of the US presidential election on Tuesday and the results of the Wed-Thu FOMC meeting. On the positive side, homebuilders are climbing with today’s -9.7 bp decline in the 10-year T-note yield, a supportive factor for housing demand. Also, Nvidia is up more than +1% after S&P Dow Jones Indices said the stock will replace Intel in the Dow Jones Industrial average before trading on November 8. In addition, Fox Corp is up more than +4% after reporting stronger-than-expected Q1 revenue.
