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Major Averages Decline After Fed Meeting Minutes Release

The major averages closed lower after the release of the Federal Reserve's September meeting minutes. According to minutes from the latest FOMC meeting, most Fed members are seeing increased economic momentum and expect another rate hike by year-end. Many members see higher rates on risk-management grounds, the minutes showed. Of note, the benchmark 10-year Treasury yield rose more than eight basis points to trade as high as 5.356%, reaching its highest level since April 2002.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Chevronwill divest ownership interests in Hess Midstreamand DJ Basin crude assetsConstellation Brandsreported upbeat Q2 results and provided FY27 guidanceSpaceXis seeking to raise $40B to purchase Nvidiachips, FT reportsMicrosoftintends to unveil a new laptop that utilizes Nvidiachips, Reuters reportsAccording to minutes from the last Federal Reserve meeting, most Fed members expect another rate hike by year-end2. WALL STREET CALLS:Marvellupgraded to Buy at TD CowenAppFoliodowngraded to Neutral at UBSFlutter Entertainmentupgraded to Buy at CitiMohawk Industriesdowngraded to Underperform at RBC CapitalCantor upgraded Humanainto this week's Stars announcement by CMS3. AROUND THE WEB:Disney+will stream Super Bowl LXI in 2027, Variety reportsThe Trump administration's HUD is investigating Wells Fargoover nearly a decade of programs aimed at increasing Black homeownership, examining whether the bank's commitments and practices violated fair-lending laws by favoring Black or other minority borrowers, WSJ reportsThe U.S. government, Meta, Google DeepMind, and Isomorphic Labs are committing $1.8B to Biohub's effort to build standardized open biological datasets for AI training, Reuters saysThe FBI removed an Accenturecontractor due to their role in a data breach that exposed the personal details of thousands of FBI employees, Reuters saysA workers' union at Micron'sTaiwan facility has received an authorization from its members to strike over the dispute regarding the company's bonus scheme, Reuters reports4. MOVERS:HPEgained after announcing the first four of its HPE ProLiant Gen13 Servers powered by 6th Generation AMDEPYC Server processorsModernaincreased after entering a multi-year collaboration with Tempus AIand MerckSkyworkswas higher after BofA raised its price target on the stockFarm equipment makers Deere, Caterpillar, CNH Industrial, and Agcofell after the FTC launched a probe into the sector over possible anticompetitive conductFortuna Miningwas lower in New York after reporting production results for Q35. EARNINGS/GUIDANCE:Safe Proreported preliminary Q3 resultsPenguin Solutionsreported Q4 results and provided guidance for FY27Neogenreported Q1 results and raised its outlook for FY27PepsiCoto report Q3 results on October 8Delta Air Linesto report Q3 results on October 9INDEXES:The Dow fell 341.41, or 0.66%, to 51,179.87, the Nasdaq lost 61.20, or 0.22%, to 27,538.69, and the S&P 500 declined 17.16, or 0.22%, to 7,801.77.

Major Averages Broadly Lower as 10-Year Treasury Yield Rises to 5.356%

The major averages were broadly lower near noon amid an increase in bond yields and oil prices and ahead of the release of the Federal Reserve's September meeting minutes. The benchmark 10-year Treasury note yield rose more than eight basis points to trade as high as 5.356%, reaching its highest level since April 2002.The Fed's September meeting minutes could provide a clearer picture of the debate behind the central bank's 25-basis-point rate hike. Markets broadly expect the Fed to hold rates at its Oct. 27-28 meeting following last week's weaker jobs report, but expectations for another hike later in the year remain.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Chevronwill divest ownership interests in Hess Midstreamand DJ Basin crude assetsConstellation Brandsreported upbeat Q2 results and provided FY27 guidanceSpaceXis seeking to raise $40B to purchase Nvidiachips, FT reportsMicrosoftintends to unveil a new laptop that utilizes Nvidiachips, Reuters reportsDisney+will stream Super Bowl LXI in 2027, Variety reports2. WALL STREET CALLS:Marvellupgraded to Buy at TD CowenAppFoliodowngraded to Neutral at UBSFlutter Entertainmentupgraded to Buy at CitiMohawk Industriesdowngraded to Underperform at RBC CapitalCantor upgraded Humanainto this week's Stars announcement by CMS3. AROUND THE WEB:The U.S. government, Meta, Google DeepMind, and Isomorphic Labs are committing $1.8B to Biohub's effort to build standardized open biological datasets for AI training, Reuters saysMicrosoft'sXbox has secured game streaming rights for Grand Theft Auto VI, The Verge reportsThe FBI removed an Accenturecontractor due to their role in a data breach that exposed the personal details of thousands of FBI employees, Reuters saysA workers' union at Micron'sTaiwan facility has received an authorization from its members to strike over the dispute regarding the company's bonus scheme, Reuters reportsThe bipartisan House Select Committee on China in a report to be released today found "a profound gap" between Webull'spublic marketing as "an American company" and actual control of the St. Petersburg, Florida-based firm, CNBC says4. MOVERS:HPEgains after announcing the first four of its HPE ProLiant Gen13 Servers powered by 6th Generation AMDEPYC Server processorsModernaincreases after entering a multi-year collaboration with Tempus AIand MerckSkyworkshigher after BofA raised its price target on the stockFuelCellfalls after announcing CFO Michael Bishop will transition out of the roleFortuna Mininglower in New York after reporting production results for Q35. EARNINGS/GUIDANCE:Safe Proreported preliminary Q3 resultsPenguin Solutionsreported Q4 results and provided guidance for FY27Neogenreported Q1 results and raised its outlook for FY27PepsiCoto report Q3 results on October 8Delta Air Linesto report Q3 results on October 9INDEXES:Near midday, the Dow was down 402.95, or 0.78%, to 51,118.33, the Nasdaq was down 137.31, or 0.50%, to 27,462.58, and the S&P 500 was down 28.79, or 0.37%, to 7,790.14.

Stock Futures Point to Lower Open as Tech Stocks Weigh

Stock futures are pointing to a lower open after the S&P 500 and Nasdaq closed at record highs in the prior session, with investors turning cautious as Treasury yields and oil prices move higher ahead of the Federal Reserve's September meeting minutes. Brent crude moved back above $100 a barrel and WTI was around $90 as Middle East supply concerns continued to pressure markets.In focus will be the 2 p.m. ET release of the Fed's September meeting minutes, which could provide a clearer picture of the debate behind the central bank's 25-basis-point rate hike. Markets broadly expect the Fed to hold rates at its Oct. 27-28 meeting following last week's weaker jobs report, but expectations for another hike later in the year remain. Reuters reported that October hike odds had fallen to about 22% from roughly 51% a week earlier, while policymakers remain divided over whether inflation warrants additional tightening.Higher yields are weighing particularly heavily on technology and semiconductor stocks after the sector drove Tuesday's record-setting rally. The AI trade remains a major source of support for the broader market, but rising financing costs and questions about the enormous capital requirements of AI infrastructure are increasingly creating a counterweight.In pre-market trading, S&P 500 futures fell 0.38%, Nasdaq futures fell 0.67% and Dow futures fell 0.69%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Unity Softwareup 4% after Googleand the company announced a new artificial intelligence-powered game creation platform called PlaygroundFlutter Entertainmentup 3% after Citi upgraded the stock to Buy with a price target of $91, down from $93Safe Proup 1% after reporting preliminary third quarter resultsUP AFTER EARNINGS -Neogenup 15%Penguin Solutionsup 4%DOWN AFTER EARNINGS -Constellation Brandsdown 1%Worthington Steeldown 1%LOWER -Robloxdown 4% after Googleand Unityannounced a new artificial intelligence-powered game creation platformMicrondown 1% after Reutersa workers' union at Micron's Taiwan facility has received an authorization from its members to strike over the dispute regarding the company's bonus scheme