US open: Stocks higher as energy pressure eases, Fed decision looms

(Sharecast News) - Major indices were in the green early on Monday as market participants awaited a raft of central bank decisions later in the week.

As of 1500 GMT, the Dow Jones Industrial Average was up 0.47% at 52,461.31, while the S&P 500 advanced 0.97% to 7,697.74 and the Nasdaq Composite came out of the gate 1.30% firmer at 26,292.43.

The Dow opened 246.15 points higher on Monday, taking a bite out of heavy losses recorded in the previous session amid rising oil prices and ongoing concerns that the artificial intelligence trade may be wavering.

Investors were now looking ahead interest rate decisions from the Federal Reserve, European Central Bank and Bank of Japan - due on Wednesday, Thursday and Friday, respectively. Traders will obviously be focused on the US central bank's call, with futures implying around a 90% chance policymakers keep rates at 3.75% to 4%. Even so, Bank of America said a quarterpoint hike remained possible, describing it as a "heavy lift" but not off the table.

Oil prices were also in focus at the open, offering some relief after last week's sharp runup, with West Texas Intermediate slipping 1.68% to $101.53, while Brent fell 1.16% to $115.37 after hitting its highest level since April on Friday amid reports the US and Israel could be preparing strikes on Iran after the midterm elections.

In the corporate space, Verizon reported a steady rise in thirdquarter revenuse on Monday, with earnings improving and adjusted profitability hitting a new high. The telecoms giant posted 1.5% yearonyear improvement in operating revenues to $34.3bn, while consolidated net income rose 5.2% to $5.3bn, and earnings per share increased to $1.25 from $1.17. Adjusted EPS climbed 8.3% to $1.31, while adjusted EBITDA advanced 8% to a record $13.8bn. Verizon also announced an agreement worth over $2bn with Amazon Web Services.

On the macro front, the Chicago Federal Reserve's national activity index improved in September, rising to +0.07 from -0.08 in August, pointing to a modest pickup in US economic momentum. Productionrelated indicators made the biggest positive contribution, strengthening to +0.13 from -0.06, while sales, orders and inventories also turned firmer at +0.02 versus -0.03 previously. Employment was broadly neutral after a slight drag in August. By contrast, personal consumption and housing weighed on the headline figure, with their contribution slipping to -0.08 from +0.02 a month earlier. The index's threemonth movi

Dow Jones - Risers

Dow Chemical Co. (DOW) $34.29 5.08%

Cisco Systems Inc. (CSCO) $109.29 3.92%

Intel Corp. (INTC) $88.48 3.20%

Goldman Sachs Group Inc. (GS) $896.81 2.06%

Microsoft Corp. (MSFT) $529.49 2.04%

Johnson & Johnson (JNJ) $267.99 1.86%

McDonald's Corp. (MCD) $251.27 1.36%

Nike Inc. (NKE) $37.69 1.31%

JP Morgan Chase & Co. (JPM) $335.10 1.24%

American Express Co. (AXP) $315.20 1.05%

Dow Jones - Fallers

Verizon Communications Inc. (VZ) $43.69 -2.47%

Apple Inc. (AAPL) $346.02 -1.49%

Merck & Co. Inc. (MRK) $143.28 -0.80%

Chevron Corp. (CVX) $232.04 -0.75%

Walt Disney Co. (DIS) $111.61 -0.68%

Coca-Cola Co. (KO) $92.21 -0.49%

Procter & Gamble Co. (PG) $160.23 -0.43%

Visa Inc. (V) $405.63 -0.43%

Home Depot Inc. (HD) $318.68 -0.06%

Walmart Inc. (WMT) $0.00 0.00%

ng average edged up to +0.03 from +0.01, suggesting underlying activity remains slightly above trend.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Dow Chemical Co. (DOW) $34.29 5.17%

Cisco Systems Inc. (CSCO) $109.29 3.92%

Intel Corp. (INTC) $88.48 3.54%

Goldman Sachs Group Inc. (GS) $896.81 2.33%

Microsoft Corp. (MSFT) $529.49 2.22%

Johnson & Johnson (JNJ) $267.99 1.86%

McDonald's Corp. (MCD) $251.27 1.36%

Nike Inc. (NKE) $37.69 1.31%

JP Morgan Chase & Co. (JPM) $335.10 1.24%

American Express Co. (AXP) $315.20 0.77%

Dow Jones - Fallers

Verizon Communications Inc. (VZ) $43.69 -2.04%

Apple Inc. (AAPL) $346.02 -1.39%

Merck & Co. Inc. (MRK) $143.28 -0.80%

Chevron Corp. (CVX) $232.04 -0.75%

Walt Disney Co. (DIS) $111.61 -0.68%

Coca-Cola Co. (KO) $92.21 -0.49%

Procter & Gamble Co. (PG) $160.23 -0.43%

Visa Inc. (V) $405.63 -0.43%

Home Depot Inc. (HD) $318.68 -0.20%

S&P 500 - Risers

Synopsys Inc. (SNPS) $449.55 7.31%

Cadence Design Systems Inc. (CDNS) $329.18 6.97%

Akamai Technologies Inc. (AKAM) $96.19 6.68%

Ipg Photonics Corp. (IPGP) $72.25 5.83%

Fortinet Inc. (FTNT) $183.70 5.80%

Lam Research Corp. (LRCX) $238.09 5.21%

Northern Trust Corp. (NTRS) $171.84 4.36%

Cisco Systems Inc. (CSCO) $109.29 4.01%

NetApp Inc. (NTAP) $220.69 3.98%

Intel Corp. (INTC) $88.48 3.55%

S&P 500 - Fallers

Coterra Energy Inc. (CTRA) $32.56 -8.62%

Whirlpool Corp. (WHR) $26.13 -4.52%

Cognizant Technology Solutions Corp. (CTSH) $69.61 -4.14%

Intuit Inc. (INTU) $340.20 -4.08%

Charter Communications Inc. (CHTR) $106.75 -3.91%

Mattel Inc. (MAT) $16.10 -3.74%

Equity Residential (EQR) $63.66 -3.50%

Adobe Systems Inc. (ADBE) $260.77 -3.36%

Verisk Analytics Inc. (VRSK) $197.11 -3.22%

Dollar Tree Inc (DLTR) $124.42 -2.97%

Nasdaq 100 - Risers

Synopsys Inc. (SNPS) $449.55 7.21%

Cadence Design Systems Inc. (CDNS) $329.18 6.97%

Tesla Inc (TSLA) $394.87 6.71%

Check Point Software Technologies Ltd. (CHKP) $161.34 5.22%

Lam Research Corp. (LRCX) $238.09 5.21%

Intel Corp. (INTC) $88.48 4.11%

Cisco Systems Inc. (CSCO) $109.29 3.94%

Micron Technology Inc. (MU) $893.84 3.14%

Analog Devices Inc. (ADI) $399.98 2.85%

Wynn Resorts Ltd. (WYNN) $75.24 2.66%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

Mercadolibre Inc. (MELI) $1,620.00 -10.06%

Liberty Global plc Series A (LBTYA) $7.61 -5.06%

Intuit Inc. (INTU) $340.20 -4.38%

T-Mobile Us, Inc. (TMUS) $146.16 -4.33%

Liberty Global plc Series C (LBTYK) $7.55 -4.32%

Cognizant Technology Solutions Corp. (CTSH) $69.61 -4.14%

Dollar Tree Inc (DLTR) $124.42 -3.62%

Charter Communications Inc. (CHTR) $106.75 -3.57%

Adobe Systems Inc. (ADBE) $260.77 -3.57%