Stock Market Today Stocks Sizzle on Hopes for a More Dovish Fed Kiplinger Kiplinger is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Here's why you can trust us.

Stock Market Today Stocks Sizzle on Hopes for a More Dovish Fed

The major indexes ended a tumultuous week with a bang thanks to easing inflation data. (opens in new tab) (opens in new tab) (opens in new tab) Newsletter sign up Newsletter (Image credit: Getty Images) By Dan Burrows published 28 October 2022 Markets ended the week on a positive note Friday, finishing sharply higher after some economic data raised the possibility of a slower pace of rate hikes from the Federal Reserve. The blue-chip Dow Jones Industrial Average soared 2.6% to finish at 32,861, while the broader S&P 500 jumped 2.5% at 3,901. The tech-heavy Nasdaq Composite vaulted 2.9% to end at 11,102.

65 Best Dividend Stocks You Can Count (opens in new tab) Friday's session made for an upbeat end to a tumultuous week of mixed trading driven by disappointing quarterly reports from a slew of the biggest technology companies. On Friday, it was Amazon.com's (AMZN (opens in new tab), -6.8%) turn to take a dive, as shares tumbled after the e-commerce and cloud-computing giant gave a downbeat revenue forecast for the holiday shopping season. Google parent Alphabet (GOOGL (opens in new tab)), Facebook parent Meta Platforms (META (opens in new tab)) and Microsoft (MSFT (opens in new tab)) all delivered discouraging results earlier in the week.

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Profit and prosper with the best of Kiplinger's expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail. Profit and prosper with the best of Kiplinger's expert advice - straight to your e-mail. Sign up But Friday's action was dominated by a better-than-expected reading on inflation. The core Personal Consumption Expenditure Index, which is the Fed's preferred measure of inflation, gained 0.5% month over month in September. That was just below economists' expectations, and fueled hope that the central bank could slow down its pace of interest rate increases. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice.

The Best Healthcare Stocks to Buy

A slower pace of inflation is to be expected if the economy really is set for a slowdown, and that only reinforces the case for equities that hold up well in a down market. Although the initial reading on third-quarter gross domestic product came in at a better-than-expected 2.6% annual rate (opens in new tab) – and rebounded after two consecutive quarters of contraction – experts say the underlying data reveal an increasingly weak economy (opens in new tab). If that does turn out to be the case, investors would be well-advised to adopt strategies that work in a bear market (opens in new tab). Adding reliable and rising dividend payers (opens in new tab) to a portfolio can certainly help folks' returns hold up in down markets, especially when those names are concentrated in defensive sectors. The best consumer staples stocks (opens in new tab) are a good place to start.

5 Best Dow Dividend Stocks to Buy Now (opens in new tab) But few sectors are as dividend-rich and defensive as healthcare. The driving narrative of the past few years has been the industry's response to COVID-19, and some of those tailwinds are beginning to abate. We've found several healthcare stocks set to reach new heights (opens in new tab) as the pandemic continues to ebb.

3 Healthcare Stocks Set to Prosper in a Post-Covid World (opens in new tab) Explore More Stock Watch Markets Stock Market Today Microsoft (MSFT) Alphabet/Google (GOOG) Caterpillar (CAT) Meta Platforms (FB) Amazon.com (AMZN) Apple (AAPL) Dan BurrowsSenior Investing Writer, Kiplinger.comDan Burrows is a financial writer at Kiplinger, having joined the august publication full time in 2016.
A long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. He has written for The Wall Street Journal, Bloomberg, Consumer Reports, Senior Executive and Boston magazine, and his stories have appeared in the New York Daily News, the San Jose Mercury News and Investor's Business Daily, among other publications. As a senior writer at AOL's DailyFinance, Dan reported market news from the floor of the New York Stock Exchange and hosted a weekly video segment on equities.
Once upon a time – before his days as a financial reporter and assistant financial editor at legendary fashion trade paper Women's Wear Daily – Dan worked for Spy magazine, scribbled away at Time Inc. and contributed to Maxim magazine back when lad mags were a thing. He's also written for Esquire magazine's Dubious Achievements Awards.
In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics and more.
Dan holds a bachelor's degree from Oberlin College and a master's degree from Columbia University.
Disclosure: Dan does not trade stocks or other securities. Rather, he dollar-cost averages into cheap funds and index funds and holds them forever in tax-advantaged accounts. Latest 4 Ways You Can Take Advantage of a Down Market With markets down for the year, it may seem that all the news is bad. But now could be a good time to make some profitable moves. By Adam Grealish • Published 11 November 22 New, Used or Leased: Is Now the Time to Buy an Electric Vehicle? The Inflation Reduction Act created new tax breaks for electric vehicles. Here's a guide to which EVs count and the best time to buy. By Rivan V. Stinson • Published 11 November 22 You might also like Stock Market Today: Stocks Lift Off After Encouraging Inflation Report The major market indexes rallied to their best day in two years after data showed inflation slowed in October. By Karee Venema • Published 10 November 22 Stock Market Today: Stocks Snap Win Streak as Midterm Results Roll In A continued selloff in cryptocurrencies and crypto-related stocks put pressure on the broader market today, too. By Karee Venema • Published 9 November 22 Stock Market Today: Huge Crypto Deal Shakes Up Nasdaq News that crypto exchange Binance will buy its rival sent Bitcoin and several tech stocks into a tailspin. By Karee Venema • Published 8 November 22 Stock Market Today: Stocks Rise Ahead of Midterms The Dow outperformed thanks to a major M&A-related boost for drugstore chain Walgreens Boots Alliance. By Karee Venema • Published 7 November 22 Why Facebook Parent Meta Platforms is a Bargain Buy Some pros say that cost cuts (including expected massive layoffs) and a deeply discounted valuation make the one-time high flyer META a value play now. By Dan Burrows • Last updated 10 November 22 Stock Market Today: Stocks Swing Wildly After October Jobs Data The major indexes ended with their first win of the week thanks to the latest jobs report. By Karee Venema • Published 4 November 22 Kiplinger's Weekly Earnings Calendar (Nov. 7-11) stocks Check out our earnings calendar for the upcoming week. By Karee Venema • Last updated 11 November 22 Stock Market Today: Stocks Fall Again as Fed Hangover Persists The major market indexes notched a fourth straight loss as Powell's rate-hike warning kept investor sentiment in check. By Karee Venema • Published 3 November 22 View More ▸ kiplinger About Us (opens in new tab) Terms and Conditions (opens in new tab) Privacy Policy (opens in new tab) Cookie Policy (opens in new tab) Kiplinger is part of Future plc, an international media group and leading digital publisher. Visit our corporate site.
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