Market Report Oct 31 2023

On Monday, major indices exhibited a robust performance, closing near their peak levels with gains ranging between 0.7% and 1.6%.

Initial volatility was evident during the day's trading; however, momentum gathered in the latter half, particularly following the S&P 500's recent descent into the correction phase.

All sectors within the S&P 500 demonstrated positive results, with XLC and XLF emerging as the frontrunners.

The Fed’s decisions this week will undoubtedly be pivotal in steering the market's trajectory.

Javid Shaik

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