Wall Street slipped again after a stronger-than-expected report on the U.S. economy weakened hopes that easier interest rates would arrive soon.
The S&P 500 fell 0.6% Wednesday, its second straight drop. The Dow fell 0.3%, and the Nasdaq composite lost 0.6%.
Rising yields in the bond market again put downward pressure on stocks. Yields climbed after a report showed sales at U.S. retailers were stronger last month than economists expected, which could keep upward pressure on inflation. That could push the Federal Reserve to wait longer than traders expect to begin cutting rates.
On Wednesday:
The S&P 500 fell 26.77 points, or 0.6%, to 4,739.21.
The Dow Jones Industrial Average fell 94.45 points, or 0.3%, to 37,266.67.
The Nasdaq composite fell 88.73 points, or 0.6%, to 14,855.62.
The Russell 2000 index of smaller companies fell 14.14 points, or 0.7%, to 1,913.17.
For the week:
The S&P 500 is down 44.62 points, or 0.9%.
The Dow is down 326.31 points, or 0.9%.
The Nasdaq is down 117.14 points, or 0.8%.
The Russell 2000 is down 37.80 points, or 1.9%.
For the year:
The S&P 500 is down 30.62 points, or 0.6%.
The Dow is down 422.87 points, or 1.1%.
The Nasdaq is down 155.73 points, or 1%.
The Russell 2000 is down 113.91 points, or 5.6%.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for January 2025. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
