Stock market today: Wall Street edges back from its all-time highs

NEW YORK — Some of the steam is coming out of Wall Street’s record-breaking rally, as U.S. stocks edge back from their all-time highs. The S&P 500 was 0.1% lower in early trading Monday, coming off its sixth straight winning week. The Dow Jones Industrial Average also slipped 0.1%, as did the Nasdaq composite. Boeing rose 4.7% after reaching an agreement with the union representing striking machinists. Kenvue, which makes Band-Aids and Tylenol, rose 6.

Kenvue, the consumer health brands company that Johnson & Johnson spun off last year, climbed 8.2% on a Wall Street Journal report that activist investor Starboard Value had taken a significant stake in the maker of Band-Aids and Tylenol. Before Monday's premarket rally, Kenvue shares had lost about a fifth of their value since the company started trading publicly in May of 2023.

China cut its one-year and five-year Loan Prime Rates, which are reference rates for lending. Lower rates can help reduce pressure on borrowers, particulary property developers that have suffered following a crackdown on excessive borrowing several years ago. But any impact on market sentiment appeared to be short-lived.

In Europe at midday, France's CAC 40 tumbled 1% and Germany's DAX was down 0.9%. Britain's FTSE 100 lost 0.2%.

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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 adds slightly to its record highsNEW YORK (AP) — U.S. stock indexes added slightly to their record highs in relatively subdued trading on Wall Street. The S&P 500 rose 0.3% Monday, beating the all-time high it set on Thursday.
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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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Stock market today: Wall Street hovers quietly around record highs before the bell WednesdayTrading on Wall Street was quietly mixed before the opening bell Wednesday as markets hovered around record highs.
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Stock market today: Wall Street drifts near record highs following recent big movesNEW YORK (AP) — U.S. stocks are drifting around their records as financial markets around the world take a pause following big recent moves. The S&P 500 was up 0.1% in early trading Wednesday.
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Stock market today: Wall Street drifts near its record highsNEW YORK (AP) — U.S. stock indexes are drifting around their records as hopes hold that the economy can pull off the rare feat of getting painfully high inflation under control without a recession. The S&P 500 was up 0.
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