Stock Market Today: Stocks Extend Monthly Losing Streak

The main indexes ended Tuesday with modest gains but finished October in the red.

closeup of blue stock chart on personal computer
(Image credit: Getty Images)

Stocks started Tuesday in negative territory but were trading higher by mid-afternoon. Today's focus was on a steady stream of economic data – including a bigger-than-expected rise in wage growth – which hit as the Federal Reserve kicked off its two-day policy meeting. Corporate earnings reports also drew their fair share of headlines, particularly a dismal outlook from construction giant Caterpillar (CAT).  

One of the more notable economic reports released today was the employment cost index (ECI) – a measure of inflation that tracks wage growth – which rose by a higher-than-expected 1.1% from Q2 to Q3. This was larger than the 1% rise seen in Q2, and was the ninth straight quarterly increase in the metric. Year-over-year, the ECI was up 4.3%.

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.