(Reuters) - Wall Street fell on Wednesday, with the S&P 500 and the Nasdaq retreating from the record levels hit in the previous session as fewer-than-expected private job additions in November added to concerns about the near-term pressure on the economy.
With about $11 trillion in funds tied to the S&P 500, money managers have been looking toward a few busy weeks ahead no matter how Tesla was included in the index
(Reuters) - The S&P 500 and the Nasdaq hit record highs on Tuesday as hopes that a COVID-19 vaccine will be available soon and better-than-expected factory data from China bolstered bets of a speedy economic recovery.
The primary analysis, which included 196 cases, found the vaccine was 94.1 per cent effective, in line with preliminary findings released earlier this month.
The Dow is on track for its biggest monthly gain since 1987
Shares in China rose 0.37% after data showed Chinese industrial profits hit a nine-year high. South Korean stocks also rose 0.05%
The MSCI world equity index, which tracks shares in 49 countries, hit an all-time high on Wednesday
The S&P 500 and the Dow Jones Industrial Average retreated from record closing highs, pulled lower by cyclicals and small caps that drove the rally earlier in the week
At 30,000 points the Dow could lure in small investors still on the sidelines who are now eager to share in the market exuberance
Yellen is seen returning clarity on the U.S. strong-dollar policy, stabilizing the $6.6-trillion-a-day currency market that's the backbone of global finance and commerce
European equities rose on a possible easing of COVID-19 curbs and progress on vaccines from the likes of AstraZeneca, Pfizer and Moderna
The S&P 500 rose 1.81 points, or 0.05%, to 3,611.34 shortly after the market opened
The broad sell-off was a reversal of Monday's rally, in which the blue-chip Dow reached its first record closing high since before the pandemic
Cisco Systems Inc and Walt Disney Co were the top gainers among 30 Dow components, helping the blue-chip index rise 0.8%.
The S&P 500 advanced 1.6 per cent in early trading in New York, led by technology stocks
Revenues remain flat, sequential improvement in India and US revenues
In terms of the amount mobilised, the New York Stock Exchange and Nasdaq occupy the top two positions
Wall Street's major averages pulled back considerably in the week as investors worried that soaring Covid-19 infections could slow down economic recovery
The sell-off accelerated during the session's final minutes,with both the Dow and benchmark S&P 500 posting their biggest single-day declines since June 11
The Dow Jones Industrial Average fell 97.97 points, or 0.35%, to 28,210.82, the S&P 500 lost 7.56 points, or 0.22%, to 3,435.56