Stock market today: Wall Street weakens as its post-election boom slows some more

NEW YORK — U.S. stocks slipped as the market’s big burst following Donald Trump’s election continued to cool. The S&P 500 dipped 0.6% Thursday. The Dow Jones Industrial Average dropped 0.5%, and the Nasdaq composite sank 0.6%. Several areas of the market that had bounced highest following Trump’s election reversed their momentum and led the way lower. Tesla sank to just its second loss since Election Day, while smaller stocks fell harder than the rest of the market.

The stock market broadly has been rising faster than corporate profits, which has raised criticism from skeptics that it's gotten too expensive. Some of the stocks that have felt the biggest bump from Trump's election also lost momentum. Tesla fell 5.1% and was on track for just its second loss since Election Day. It's run by Elon Musk, who has become a close Trump ally.

Helping to keep Wall Street's losses in check was The Walt Disney Co., which jumped 6.9% after the entertainment giant reported stronger profit for the latest quarter than analysts expected. CEO Robert Iger credited improved profits at its streaming businesses and strong box-office results for its movies, including “Inside Out 2” and “Deadpool & Wolverine,” among other things.

Treasury yields initially jumped following the reports, as traders trimmed their expectations a bit for a coming cut to interest rates by the Federal Reserve at its meeting next month. But yields later regressed, and the yield on the 10-year Treasury eased to 4.41% from 4.45% late Wednesday.

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 drifts after inflation update comes in as expectedNEW YORK (AP) — U.S. stocks drifted near their records after the latest inflation update boosted hopes that more help for the economy will arrive next month from another cut to interest rates. The S&P 500 ended little changed Wednesday.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Asian markets are mixed after another winning close on Wall StreetBANGKOK (AP) — Asian shares were mixed on Monday after U.S. stocks rose to records to close out their latest winning week. U.S. futures also were mixed and...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Wall Street opens lower as Big Tech stocks pull backNEW YORK (AP) — Wall Street is feeling the downside of high expectations as Microsoft and Meta Platforms lead U.S. stock indexes lower despite delivering strong profits for the summer. The S&P 500 was down 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street ends mixed even as the Dow ekes out another recordNEW YORK (AP) — U.S. stocks ended on a mixed note following the latest signals that the U.S. economy continues to hum. The S&P 500 closed little changed Thursday. The Dow Jones Industrial Average added 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street opens lower as its recent rally cools some moreNEW YORK (AP) — Stocks are opening lower as more momentum comes out of Wall Street’s record-breaking rally. The S&P 500 was 0.3% lower early Wednesday. It’s coming off two small losses since setting an all-time high on Friday.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street drifts ahead of Election Day, while oil rises and yields sinkNEW YORK (AP) — U.S. stocks drifted ahead of a momentous week full of potential flashpoints, while oil prices climbed and Treasury yields dropped. The S&P 500 slipped 0.3% Monday, even though the majority of stocks within the index rose.
Source: SooToday - 🏆 8. / 85 Read more »