Stock Market Today: Dow Leads Losses
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Futures are pointing to a lower open again. At the moment, the Dow is down 163 points. The S&P 500 is down about 19, with the Nasdaq down about 61 points. “Markets are on a three-day losing streak as investors show fatigue following a 30% rally since April,
Seventeen components of the 30-stock index ended in negative territory, while 13 ended in positive. The tech-heavy Nasdaq Composite fell 80.29 points, or 0.4%, to close at 21,098.29.
While the Nasdaq Composite is known for its tech-focused growth stocks, it also has plenty of stocks that generate passive income.
Wall Street fell to a fifth straight loss.The S&P 500 slipped 0.4% Thursday. The Dow Jones Industrial Average dropped 152 points, and the Nasdaq composite fell 0.3%.Walmart weighed on the market after delivering a weaker-than-expected profit report for the spring, while Nvidia and other Big Tech stocks held a bit steadier following two days of sharp swings.Treasury yields rose after a report on U.S. business activity dampened Wall Street’s hopes for coming cuts to interest rates. All the S&P 500’s losses have been relatively modest, but it has not risen since setting an all-time high last Thursday.On Thursday:The S&P 500 fell 25.61 points, or 0.4%, to 6,370.17The Dow Jones Industrial Average fell 152.81 points, or 0.3%, to 44,785.50.The Nasdaq composite fell 72.55 points, or 0.7%, to 21,100.31.The Russell 2000 index of smaller companies rose 4.74 points, or 0.2%, to 2,274.10.For the week:The S&P 500 is down 79.63 points, or 1.2%.The Dow is down 160.62 points, or 0.4%.The Nasdaq is down 522.66 points, or 2.4%.The Russell 2000 is down 12.43 points, or 0.5%.For the year:The S&P 500 is up 488.54 points, or 8.3%.The Dow is up 2,341.28 points, or 5.3%.The Nasdaq is up 1,789.52 points, or 9.3%.The Russell 2000 is up 43.94 points, or 2%.
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Stocks continued to trade lower on Wednesday, while yields on U.S. government debt were little changed, after minutes of the Federal Reserve's July meeting showed that officials expected near-term inflation to increase.
The Nasdaq and S&P 500 fell on Wednesday as investors sold tech stocks and moved into less highly valued sectors, as they also awaited remarks from Federal Reserve officials at their Jackson Hole symposium this week.