AP News | |

Wall Street’s euphoria took a break Thursday, as steep losses in technology stocks dragged the rest of the market down with them.

It was the biggest decline for the U.S. stock market since early June, when investors were dealing with a surge of coronavirus infections in places like Florida, Texas and Arizona. There seemed to be no explicit catalyst for the sell-off, with economic data coming in roughly where the market had expected and no companies issuing foreboding warnings.

That said, the market felt due for a breather, investors said. Both the S&P 500 and Nasdaq hit record highs just the day before. Prior to Thursday, the S&P 500 had risen nine out of the previous 10 days.

AP News | |

The Dow Jones Industrial Average surged more than 450 points Wednesday as the stock market notched its best day in nearly two months.

The S&P 500 rose 1.5%, it’s best day since July 6. The benchmark index and the Nasdaq composite each hit new highs, extending Wall Street’s milestone-setting run in recent weeks.

Health care, technology and communications companies drove the rally. Technology stocks, which have led the market’s rebound this year, briefly stumbled in the early going, but gained strength into the afternoon. Energy companies fell as oil prices closed lower. Treasury yields were mixed.

AP News | |

Wall Street kicked off September with another set of milestones Tuesday, as an afternoon rally carried the S&P 500 and Nasdaq composite to all-time highs.

The S&P 500 bounced back from a modest loss in the early going to finish 0.8% higher a day after the benchmark index wrapped up its fifth monthly gain in a row. More strength in technology stocks and solid gains in retailers and other companies that rely on consumers offset declines in health care companies and elsewhere in the market. Treasury yields fell.

AP News | |

Stocks ended lower on Wall Street’s Monday, but the market still closed out August with its fifth monthly gain in a row.

The S&P 500 fell 0.2% after spending much of the day wavering between gains and losses of less than 0.1%. The modest decline, which snapped the index’s seven-day winning streak, came as losses in financial, industrial and energy companies outweighed gains in technology stocks.

The benchmark index finished the month with a 7% gain, making it the S&P 500′s best August since 1986. The Nasdaq composite, meanwhile, added to its recent string of milestones, closing at an all-time high.

David Nelson, CFA CMT | |

Investors from Wall Street to Main Street concerned there's a potential disconnect between the market and the economy are asking some tough questions. The 5 largest stocks by market cap represent 23% of the index. I doubt the fortunes of Apple, Microsoft or Amazon represent what’s taking place in your local community. Is it the absolute level of economic activity and employment or is it enough that the numbers are heading in the right direction to justify current prices...

AP News | |

The gains keep piling up on Wall Street, and the S&P 500 rallied again on Friday to close out its fifth straight winning week.

The benchmark index rose 23.46, or 0.7%, to 3,508.01, setting another record high and several more superlatives. It was the seventh straight day of gains for the index. It also capped a 3.3% rally for the week to cement its longest weekly winning streak since December, before the coronavirus pandemic swept the world and sent economies tumbling into recession.

The Dow Jones Industrial Average rallied 161.60, or 0.6%, to 28,653.87 and clawed its way back to a tiny gain for the year. It’s just 0.4%, but it’s the first time the Dow has been up for 2020 since late February.

AP News | |

The S&P 500 ticked further into record territory on Thursday after the Federal Reserve made a major overhaul to its strategy, one that could keep interest rates low for longer.

The benchmark index rose 0.2%, to another all-time high, but it veered through a jumbled day of trading to get there. Prices for stocks, bonds and gold all made several U-turns after Fed Chair Jerome Powell gave a highly anticipated speech. In it, he essentially said the Fed may continue efforts to prop up the economy even if inflation rises above its target level of 2%, as long as it had been weak before then.

AP News | |

More blowout profit reports from big tech companies pushed the S&P 500 to an all-time high Wednesday.

The benchmark index rose 1%, even though most of the stocks within it closed lower. Technology stocks accounted for the lion’s share of the gains, outweighing losses in health care, utilities, energy and other sectors.

The S&P 500 has been notching record highs this month, adding to its remarkable turnaround this year from a nearly 34% skid this spring as the pandemic ravaged the economy. While the market’s movements have remained almost relentlessly upward in recent weeks, powered largely by big technology stocks, its momentum has slowed. Recent data reports have shown a mixed picture on the economy, where activity has largely slowed following its initial rebound from its plummet into recession.

Frank Holmes | |

If you woke up this morning from an eight-month coma and happened to glance through the business section of the newspaper, you’d be forgiven for being unaware of any economic slowdown.

Don’t get me wrong: Many businesses and families are still struggling. The number of Americans filing for initial jobless claims last week spiked above 1 million, while the number of deaths attributed to COVID-19 remains high.

But there’s been much else to celebrate.

Business activ...

AP News | |

Stocks were mixed on Wall Street Tuesday, but gains were strong enough for tech companies and other pockets of the market to carry the S&P 500 to its fourth straight gain and another record high.

The benchmark index rose 12.34, or 0.4%, to 3,443.62, even though slightly more stocks within it sank than rose. The Dow Jones Industrial Average fell 60.02, or 0.2%, to 28,248.44, and the Nasdaq composite rose 86.75, or 0.8%, to 11,466.47.