The Fed’s Beige Book revealed national economic activity continued to rise, but at a “modest pace,” while the report noted strength in consumer spending and manufacturing. The Beige Book is a tool used by the Fed as it summarizes anecdotal economic data from all twelve Federal Reserve districts in preparation for the next Federal Open Market Committee meeting scheduled for November 2-3.
The Dow Jones Industrial Average fell 14 points (0.1%) to 11,133, the S&P 500 Index gained 3 points (0.2%) to 1,183, and the Nasdaq Composite advanced 20 points (0.8%) to 2,479. Crude oil gained $1.32 to $82.00 per barrel, and the Bloomberg gold spot price rose $2.35 to $1,327.90 per ounce. For the week, including dividends, the DJIA increased 0.63%, the S&P 500 Index gained 0.59%, and the Nasdaq Composite advanced 0.43%.
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