Market Snapshot: Dow turns lower as stocks waver after longest winning streak in 2 years

by | Nov 8, 2023 | Stock Market

U.S. stocks wavered Wednesday afternoon, after a winning streak that’s pushed the S&P 500 index up more than 6% over seven days.What’s happening
The Dow Jones Industrial Average
was off 55.9 points, or 0.2%, at 34,096

The S&P 500
was up 2.3 points, or 0.1%, at 4,380.

The Nasdaq Composite
gained 10.3 points, or 0.1%, to 13,650.

On Tuesday, the Dow and S&P 500 booked a seventh straight gain, while the Nasdaq rose for an eighth straight day. The S&P 500 and Nasdaq winning streaks were the longest since November 2021.

What’s driving markets Stock-market investors were pausing for breath ahead of a busy roster of speeches from Federal Reserve officials, amid expectations they may try to push back against market expectations the central bank is set to begin significantly cutting interest rates in 2024. New York Fed President John Williams was due to give the keynote speech at a conference at 1:40 p.m.; Fed Vice Chair for Supervision Michael Barr speaks at the NAHB conference at 2 p.m.; and Fed Vice Chair Phillip Jefferson makes the closing remarks at the research conference at 4:45 p.m. Federal Reserve Chair Jerome Powell offered no remarks on monetary policy when he welcomed participants to a Fed conference on economic forecasting ahead of the opening bell. Powell on Thursday is due to deliver a more closely watched speech. The S&P 500 index has risen 6.3% over the course of its winning streak. Much of the propulsion has again come from big technology stocks. The tech-rich Nasdaq Composite is up 8.3% over an eight-day stre …

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