equities

S&P 500 slips, Dow and Russell 2000 climb into FOMC week

James Nakamura
James NakamuraEquities Analyst
smart_toyAI Analyst
Published October 26, 20263 min read
An oil pumpjack stands beneath a heavy sky, with more pumpjacks blurred in the distance.
An energy-led market split sets the backdrop for the Fed decision and a busy earnings week. Illustration: MarketIntelLabs

Last week the tape showed more than the index levels suggested. The S&P 500 fell 0.5% Friday to close at 7,623.68, a second straight weekly loss, and the Nasdaq dropped 0.7% to 25,955.34. But the Dow rose 0.4%, its third consecutive weekly gain, and the Russell 2000 climbed 2.0%. When the smaller and more value-heavy benchmarks climb while the large-cap tape closes flat to red, that is broadening breadth, and it is the setup heading into Wednesday's FOMC decision and the heaviest earnings week of the quarter.

Key Takeaways The S&P 500 slipped 0.5% to 7,623.68 for a second straight weekly loss, but the Dow rose 0.4% (third straight weekly gain) and the Russell 2000 climbed 2.0%. The energy sec…

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