NEW YORK — 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. The Dow Jones Industrial Average was down 222 points, or 0.5%, and the Nasdaq composite was 0.5% lower. Starbucks fell 2.1% after reporting weaker sales trends at its U.S. stores. McDonald’s dropped 6.3% after regulators reported that an E.
Coca-Cola reported higher-than-expected revenue in the third quarter as higher prices offset lower sales volumes. Shares of Spirit Airlines took off on reports that the budget airline and Frontier had revived merger talks. Its shares rose 25% before the bell.In Asia, Japan’s benchmark Nikkei 225 slipped 0.8% to close at 38,104.86 as the dollar rose against the Japanese yen.
State media have reported that a state-backed think tank has proposed issuing 2 trillion yuan in special government bonds to create a market stabilization fund aiming to further ease the hidden debt pressures and inject confidence into Chinese markets. U.S. stocks have slowed their record-breaking momentum this week under increasing pressure from rising Treasury yields.
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Stock market today: Asian shares rise after Wall Street rally, and China promises a briefingTOKYO (AP) — Asian shares mostly rose Thursday, as market optimism got a perk from the record highs set on Wall Street.
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Stock market today: Wall Street reaches more records as banks rallyNEW YORK (AP) — U.S. stocks closed at more all-time highs as JPMorgan Chase, Wells Fargo and other big financial companies rallied following better-than-expected profit reports. The S&P 500 rose 0.
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Stock market today: Wall Street hangs near its all-time highsNEW YORK (AP) — U.S. stock indexes are hanging near their all-time highs in quiet trading. The S&P 500 was up 0.1% in early trading Monday.
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Stock market today: Wall Street edges further into record highsNEW YORK (AP) — U.S. stocks edged further into record heights on Wall Street after shaking off a bumpy start to the day. The S&P 500 rose 0.3% Tuesday. The Dow Jones Industrial Average edged up 0.2%, adding to its own record.
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