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Stock market today: Wall Street drifts as Oracle soars and banks and oil slump

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U.S. stocks drifted to a mixed close following several weeks of sharp swings

U.S. stocks drifted to a mixed finish on Tuesday following several weeks of sharp swings. The S&P 500 rose 0.4% to pull within 3% of its record set in July. It flipped between small gains and losses through the day, but the moves were nothing like its careens since the summer, driven by worries about the slowing U.S. economy and whether coming cuts to interest rates will keep it out of a possible recession. The Dow Jones Industrial Average fell 92 points, or 0.

Like stocks, Treasury yields have been swinging sharply ahead of the Federal Reserve’s meeting next week, where the widespread expectation is for it to cut its main interest rate for the first time since the COVID crash of 2020. The Fed is turning its focus away from stifling high inflation and toward protecting the economy.

 

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