Stocks dip before key Fed decision | September job openings surged | Roth conversion opportunities

All eyes are on the Federal Reserve's rate decision due out Wednesday and whether the central bank is ready to pump the brakes.

VIEW IN BROWSER | SUBSCRIBE TUE, NOV 01, 2022 EVENING BRIEF AS OF TUE, NOV 01, 2022 • 04:48 ET DJIA 32653.20 -0.24% -79.75 S&P 500 3856.10 -0.41% -15.88 NASDAQ 10890.85 -0.89% -97.30 Most Active DOW NAME LAST CHG %CHG AAPL 150.65 -2.69 -1.75% INTC 28.30 -0.13 -0.46% MSFT 228.17 -3.96 -1.71% S&P 500 NAME LAST CHG %CHG AMZN 96.79 -5.65 -5.52% TWTR .00 UNCH UNCH META 95.20 +2.04 +2.19% NASDAQ NAME LAST CHG %CHG AMZN 96.79 -5.65 -5.52% META 95.20 +2.04 +2.19% AAPL 150.65 -2.69 -1.75% EDITOR'S NOTE All eyes are on the Federal Reserve's rate decision due Wednesday and whether the central bank is ready to pump the brakes.   But economic data released Tuesday may have shattered those hopes.   Despite rallying at the open, stocks turned negative as job openings data for September showed the labor market remains tight and ISM manufacturing data punched above expectations. Earnings season, meanwhile, continued with strong reports from Uber and Pfizer.    After multiple rate hikes this year, many investors have come to believe that the Fed has done its job and may slow its pace of tightening in the months ahead.    But some investors and strategists say hopes for a Fed pivot are premature.    "All of this — better business sentiment, more job openings —  is of course a good sign of a growing economy," wrote Goldman Sachs' Chris Hussey in a note to clients Tuesday. "But in a world where inflation expectations are expanding, the Fed does not want the economy to grow too fast."   Ron Temple, head of U.S. equity at Lazard Asset Management, echoed that sentiment, calling hopes for a dovish shift "misplaced" after Tuesday's jobs data and saying that it's too soon for the central bank to ease.   "Markets may be underestimating where the Fed's terminal rate is and should prepare for further financial tightening," he said. Samantha Subin | Associate Markets Reporter @samantha_subin Watch our live stream for all you need to know to invest smarter. TOP NEWS  Stocks finish lower as Wall Street braces for key Fed decision Job openings surged in September despite Fed efforts to cool labor market The Fed is expected to raise interest rates by three-quarters of a point and then signal it could slow the pace Supreme Court temporarily blocks Congress from getting Trump income tax returns Uber stock pops 11% on revenue beat, strong guidance Supreme Court denies Sen. Lindsey Graham's bid to avoid testifying in Georgia election interference case This contrarian indicator from Bank of America signals a 94% chance stocks are higher a year from now Treasury Department announces new Series I bond rate of 6.89% for the next six months These are the Dow stocks you want to own the most if the Fed sparks a risk-on rally Snap, Meta shares pop after FCC commissioner says U.S. should ban TikTok TOP VIDEO Cowen's Chris Kreuger breaks down what midterm elections mean for your money CNBC PRO One simple investing move can set you up for huge returns and a minimal tax bill SPECIAL REPORTS Treasury Department sold a record nearly $1 billion of Series I bonds on Friday, the deadline to lock in higher rate CNBC tours the massive $23 million estate owned by the founder of Yankee Candle Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS