Wall Street slips, breaking an 8-day winning streak for stocks

U.S. stocks ticked lower Tuesday and snapped an eight-day winning streak, the longest of the year. The Standard & Poor's 500 slipped 0.2%, but it’s still just 1.2% below its all-time high set last month. It has roared back from its scary summer drop, when the index briefly dipped nearly 10% below its record. The Dow Jones industrial average fell 0.2%, and the Nasdaq composite slipped 0.3%. Chipmaker Nvidia was the heaviest weight on the market after falling 2.1%.

, where Powell will be speaking has been the site of big policy announcements in the past. Expectations aren’t that high this time around, with nearly everyone already in agreement the Fed will begin cutting interest rates next month. The biggest question is whether the economy needs the Federal Reserve merely to remove the brakes or whether it needs an extra boost requiring deeper and faster cuts. A surprisingly weak report on hiring by U.S.

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Stock market today: Wall Street holds steady following its best week of the yearU.S. stocks are holding steady as Wall Street’s roller coaster of a summer levels out a bit. The S&P 500 was 0.2% higher in early Monday trading, coming off its best week of the year. The Dow Jones Industrial Average rose 125 points, and the Nasdaq composite added 0.1%.
Source: AP - 🏆 728. / 51 Read more »