Stock market today: Wall Street opens lower, threatening to end a 4-day winning streak

NEW YORK — Stocks are opening lower on Wall Street and threatening to end a four-day winning streak for the S&P 500. The benchmark index was down 0.4% early Wednesday. The Dow Jones Industrial Average slipped 0.1%, and the Nasdaq composite was down 0.6%. Uber Technologies slumped after reporting worse results for the latest quarter than analysts expected. Lyft revved higher after topping expectations for profit and revenue.

Markets have steadied after Federal Reserve Chair Jerome Powell said the central bank remains closer to cutting its main interest rate than hiking it, despite a string of stubbornly high readings on inflation this year. A cooler-than-expected jobs report on Friday suggested the U.S. economy could pull off the balancing act of staying solid enough to avoid a bad recession without being so strong that it keeps inflation too high.

Market players are watching to see how authorities react to the yen's persisting weakness against the U.S. dollar. A weak yen helps the profits of Japanese companies that earn much of their revenue overseas, but fluctuations in rates can upend planning and the yen's weakness has severely eroded the purchasing power of both households and businesses, pushing up costs of imports of food and energy, among other things.

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