U.S. stocks are drifting in early trading after leaping to records the day before as part of a worldwide rally. The S&P 500 was down 0.2% Friday but still on track for its fifth winning week in the last six. The Dow Jones Industrial Average slipped 63 points, or 0.2% after likewise setting its own all-time high the day before. The Nasdaq composite was flat. FedEx slumped after its profit and revenue for the latest quarter fell short of analysts’ expectations.
Nike shares got a boost from news that the athletic shoe company named Elliott Hill as its president and CEO, replacing John Donahoe. Its shares rose 6.6% as investors applauded the change that will bring Hill, who retired from the company in 2020, back to run the show. U.S. indices rose to record highs on Thursday after the Federal Reserve delivered its first cut to interest rates in more than four years a day earlier.
Elsewhere, in Europe at midday, Germany’s DAX, the CAC 40 in Paris and London's FTSE 100 were all down in the neighborhood of 0.8%. The U.S. dollar rebounded against the Japanese currency, rising to 144.14 yen from 142.62 yen late Thursday. The euro rose to $1.1167 from $1.1161.
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Stock market today: Wall Street leaps toward records as jubilation sweeps markets worldwideNEW YORK (AP) — Wall Street is roaring toward records Thursday as a delayed reaction of jubilation sweeps markets worldwide following the Federal Reserve’s big cut to interest rates. The S&P 500 was 1.
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Stock market today: Wall Street extends losses as technology and energy stocks fallStocks 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%.
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Stock market today: Wall Street climbs ahead of speech by Fed chief PowellNEW YORK (AP) — Stocks are climbing on Wall Street, but the market’s focus is thousands of miles to the west, where the head of the Federal Reserve is about to give a highly anticipated speech about interest rates. The S&P 500 was 0.
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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.
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Stock market today: Wall Street drifts in mixed trading ahead of Fed meeting this weekNEW YORK (AP) — U.S. stocks are drifting in mixed trading, offering a break from their whipsaw moves in recent weeks. The S&P 500 slipped 0.1% early Monday. The Dow Jones Industrial Average was up 255 points, or 0.
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Stock market today: Asian shares echo Wall Street rally as investors gauge inflation dataTOKYO (AP) — Asian shares were trading mostly higher Tuesday after a rally on Wall Street that regained some of the losses from the market’s worst week in...
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