Worries over the presidential election and a slump in crude prices pulled the S&P 500 lower for its seventh session in a row. Crude closed at its lowest since late September. The Fed opted to leave its fed funds rate unchanged, instead waiting for further evidence of progress toward full employment and 2% inflation. The chances of a December rate hike are now over 70%. Yelp (YELP) rallied after posting surprise profit in its third quarter. The business reviews site also detailed plans to pause its global expansion to refocus on the U.S. market. Etsy (ETSY) reported a 33% surge in third-quarter revenue. The crafts marketplace also announced that its chief financial officer had decided to leave the company in March. The search for a new CFO will begin immediately.
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CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.