Blue-Chip Index Stalls as IBM Acquisition Weighs on Sentiment

Market activity was subdued at the start of the week, with the Dow Jones Industrial Average struggling to make headway. Investors are adopting a cautious stance ahead of the Federal Reserve’s pivotal policy meeting on Wednesday, leaving the index unable to breach the psychologically significant 48,000-point barrier. While technology stocks on the Nasdaq managed modest gains, the blue-chip benchmark was held back by a significant drag from one of its heavyweight components.

Trading volumes remained well below average as institutional players avoided major positioning shifts prior to the Fed’s interest rate announcement. Although markets are overwhelmingly pricing in a 25-basis-point cut, apprehension about a potential surprise or a Read more...