Stock Market news: Stocks little changed as S&P inches toward record Dec 27 | Yahoo Finance
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Stocks were largely unchanged on
Stocks were largely unchanged on Wednesday amid a shortened week of trading and few major catalysts to drive market action.
The S&P 500 (^GSPC) neared an all-time high record close of 4,796 on Wednesday. The benchmark average and the tech-heavy Nasdaq Composite were barely in positive territory. Meanwhile, the Dow Jones Industrial Average (^DJI) rose about 0.2%.
For the year, all three major averages are up double digits. The S&P 500 has risen more than 24% while the Dow Jones is up over 13%. The Nasdaq has led gains, adding about 44% thus far this year.
Investors were looking to the markets to extend two months of gains. As of Wednesday afternoon, the S&P 500 is headed for its ninth straight week of increases, which would mark its best run since 2004. The major average has gained nearly 13% since Nov. 1.
The surge higher in stocks over the past two months has come as investors have increased bets that the Federal Reserve will cut interest rates in March and inflation falls closer to the central bank's 2% target with few signs that the US economy is set for a full-on slowdown.
The news flow so far this week has done little to change that narrative as equity prices have drifted higher.
In individual stock moves, shares of The New York Times Company rose more than 2% (NYT) after the newspaper chain sued Microsoft (MSFT) and OpenAI for copyright infringement.
Meanwhile, Apple won a bid to pause a ban on sales of its Apple Watch Series 9 and Watch Ultra 2 in the US. The court had previously paused sales over a patent dispute with medical-technology firm Masimo (MASI). Shares of Masimo fell more than 3% on the news while Apple stock was still off about 0.5% on the day.
Treasury yields continued to hover near levels not seen since July. The 10-year Treasury yield (^TNX) fell four basis points to 3.84% on Wednesday.
Read more: https://finance.yahoo.com/news/stock-...
#stocks #inflation #YahooFinance #recession #bitcoin #Biden #Stockmarket #coronavirus #memestocks #Fed #YahooFinance #investing #stockmarket #crypto
To get the latest market news check out finance.yahoo.com
The S&P 500 (^GSPC) neared an all-time high record close of 4,796 on Wednesday. The benchmark average and the tech-heavy Nasdaq Composite were barely in positive territory. Meanwhile, the Dow Jones Industrial Average (^DJI) rose about 0.2%.
For the year, all three major averages are up double digits. The S&P 500 has risen more than 24% while the Dow Jones is up over 13%. The Nasdaq has led gains, adding about 44% thus far this year.
Investors were looking to the markets to extend two months of gains. As of Wednesday afternoon, the S&P 500 is headed for its ninth straight week of increases, which would mark its best run since 2004. The major average has gained nearly 13% since Nov. 1.
The surge higher in stocks over the past two months has come as investors have increased bets that the Federal Reserve will cut interest rates in March and inflation falls closer to the central bank's 2% target with few signs that the US economy is set for a full-on slowdown.
The news flow so far this week has done little to change that narrative as equity prices have drifted higher.
In individual stock moves, shares of The New York Times Company rose more than 2% (NYT) after the newspaper chain sued Microsoft (MSFT) and OpenAI for copyright infringement.
Meanwhile, Apple won a bid to pause a ban on sales of its Apple Watch Series 9 and Watch Ultra 2 in the US. The court had previously paused sales over a patent dispute with medical-technology firm Masimo (MASI). Shares of Masimo fell more than 3% on the news while Apple stock was still off about 0.5% on the day.
Treasury yields continued to hover near levels not seen since July. The 10-year Treasury yield (^TNX) fell four basis points to 3.84% on Wednesday.
Read more: https://finance.yahoo.com/news/stock-...
#stocks #inflation #YahooFinance #recession #bitcoin #Biden #Stockmarket #coronavirus #memestocks #Fed #YahooFinance #investing #stockmarket #crypto
To get the latest market news check out finance.yahoo.com
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