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
8 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
Mexico

Mexico Quake Rescuers Race to Free Girl, ...

6 hours ago
World

Battle against I.S. in Raqqa is in 'Fina ...

7 hours ago
Mexico

Soft Soil Makes Mexico City Shake Like i ...

7 hours ago
Mexico

Mexican Red Cross Providing Assistance f ...

9 hours ago
Most Popular

7.1 Magnitude Quake Kills 139 as Buildui ...

By The Associated Press
Mexico

Peruvian Envoy Touts Ties with Mexico du ...

By Thérèse Margolis
Mexico

Rescuers Continue Hope of Rescuing More ...

By Notimex
Mexico

Mexico Quake Rescuers Race to Free Girl, ...

By The Associated Press
Mexico

A Day for Mothers

By Thérèse Margolis
Living