Navigation
Suscribe
Menu Search Facebook Twitter
Search Close
Menu ALL SECTIONS
  • Capital Coahuila
  • Capital Hidalgo
  • Capital Jalisco
  • Capital Morelos
  • Capital Oaxaca
  • Capital Puebla
  • Capital Quintana Roo
  • Capital Querétaro
  • Capital Veracruz
  • Capital México
  • Capital Michoacán
  • Capital Mujer
  • Reporte Índigo
  • Estadio Deportes
  • The News
  • Efekto
  • Diario DF
  • Capital Edo. de Méx.
  • Green TV
  • Revista Cambio
Radio Capital
Pirata FM
Capital Máxima
Capital FM
Digital
Prensa
Radio
TV
X
Newsletter
Facebook Twitter
X Welcome! Subscribe to our newsletter and receive news, data, statistical and exclusive promotions for subscribers
Business

Wall Street Falls as Investors Ready for Trump Inauguration

The post-election rally in stocks has slowed in recent weeks as investors look for more details on Trump's policies

Traders in the options market have grown increasingly cautious, photo: Pexels
By Reuters Whatsapp Twitter Facebook Share
11 months ago

NEW YORK – U.S. stocks added to losses in afternoon trading on Thursday, led by declines in utilities and energy shares, with investors cautious ahead of Donald Trump’s inauguration on Friday.

The Dow was on track to mark a fifth day of declines, moving further away from 20,000. The S&P 500 utilities index, down 0.9 percent, led losses, followed by energy, down 0.7 percent.

The post-election rally in stocks has slowed in recent weeks as investors look for more details on Trump’s policies.

Traders in the options market have grown increasingly cautious and have been loading up on defensive contracts, even as overall levels of stock market volatility are close to record lows.

“People are little bit jittery ahead of the inauguration and after the rally we’ve had,” said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. “I’m not surprised the market is down.”

At 2:53 p.m. ET, the Dow Jones Industrial Average was down 89.48 points, or 0.45 percent, to 19,715.24, the S&P 500 lost 9 points, or 0.4 percent, to 2,262.89 and the Nasdaq Composite dropped 15.98 points, or 0.29 percent, to 5,539.68

Yellen said on Wednesday the U.S. economy was getting closer to running on its own, adding that it made sense to raise interest rates gradually. She will speak on monetary policy at Stanford University later in the day.

Adding to recent robust economic data, U.S. homebuilding rebounded more than expected in December and weekly jobless claims fell to a 43-year low.

Among gainers, railroad CSX Corp jumped 18.3 percent after a source said CP Rail CEO Hunter Harrison, who steps down on Jan. 31, is in advanced talks to team up with a former Pershing Square Capital partner to shake up CSX.

Union Pacific was up 2.2 percent at $106.07 after better-than-expected quarterly net profit.

Declining issues outnumbered advancing ones on the NYSE by a 3.66-to-1 ratio; on Nasdaq, a 2.61-to-1 ratio favored decliners.

CAROLINE VALEKEVITCH

Comments Whatsapp Twitter Facebook Share
More From The News
Latest News

Americans pessimistic about Trump, count ...

3 days ago
Latest News

Strong earthquake rattles Indonesia's Ja ...

3 days ago
Living

NASA drops replica Orion spacecraft to t ...

3 days ago
Business

Huge tax bill heads for passage as GOP s ...

3 days ago
Most Popular

IMF Seeks Contingency Plans for Vulnerab ...

By The News
Business

White House Steps Up Aid for Financially ...

By The Associated Press
Business

Remittances Increased 18.76 Percent in J ...

By Omar Sánchez
Business

WALMEX Sales Grow 15.6 Percent in Februa ...

By Omar Sánchez
Business

In the Market for a Diamond? Lucky You.

By The News
Business