Stock market today: Wall Street extends losses as technology and energy stocks fall

Stocks lost more ground on Wall Street Wednesday, led by declines in the technology and energy sectors. The S&P 500 fell 0.2% Wednesday, following a 2.1% drop a day earlier. The Nasdaq composite dropped 0.3%. The Dow managed a gain of 38 points, or 0.1%. Job openings in the U.S. fell unexpectedly in July, a sign that hiring could cool in the coming months. Shares of U.S. Steel sank 17.

Health care stocks also helped pull the market lower. Eli Lilly and Co. was 1.61% lower, Elevance Health dropped 2.9% and Centene slumped 8.1%. The employment market is being closely watched by investors and the Federal Reserve as a gauge of the economy’s strength. The job openings report hit Wall Street as traders anticipate that the Federal Reserve will start cutting its benchmark interest rate at its meeting later in September.

Several other reports this week will help give a clearer picture of the economy for the Fed and Wall Street. Wall Street expects the central bank to begin trimming interest rates at its meeting later in September. Traders are forecasting that it will cut the benchmark rate by 1% by the end of 2024. Such a move would require it to cut the rate by more than the traditional quarter of a percentage point at one of its meetings in the next few months.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Wall Street wavers in morning trading following worst day in a monthNEW YORK (AP) — Stocks are wavering in morning trading on Wall Street Wednesday, a day after the market’s worst performance in a month. The S&P 500 is mostly unchanged following a 2.1% drop a day earlier.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street slips at the start of a week full of economic updatesU.S. stocks are sinking at the start of a week full of updates on the economy’s strength. The S&P 500 slipped 0.6% in early Tuesday trading, coming off a winning week that had carried it to the cusp of its all-time high.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street climbs as S&P 500 closes out fourth-straight winning monthTHIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. Stocks on Wall Street bounced back from a midafternoon fade Friday, leaving the market on pace to close out its fourth-straight winning month with more gains. The S&P 500 was up 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street rises as inflation report confirms price increases are coolingNEW YORK (AP) — Stocks are rising on Wall Street following a positive report on inflation. The S&P 500 rose 0.5% early Friday and the Nasdaq is up 0.7%. The Dow Jones Industrial Average is up 160 points, or 0.
Source: SooToday - 🏆 8. / 85 Read more »