hiuslots US stocks end lower, unable to extend rally

hiuslots

A view of the New York Stock Exchange (NYSE) on Wall Street November 13, 2024, in New York City. (Photo by ANGELA WEISS / AFP)

NEW YORK, United States — Wall Street stocks finished lower Thursday following a meandering session, as the market gave back some of the gains from the previous session.

Major indices spent part of the day in positive territory but were unable to extend Wednesday’s rally following consumer pricing data that reassured investors about the inflation outlook.

Article continues after this advertisement

“It’s been a lackluster day for stocks after surging yesterday,” said a note from Briefing.com.

FEATURED STORIES BUSINESS BIZ BUZZ: IMF called out, again BUSINESS BSP eyes PH shift to coin-lite society BUSINESS Jollibee brings Tiong Bahru Bakery to PH

The Dow Jones Industrial Average ended down 0.2 percent at 43,153.13.

The broad-based S&P 500 also declined 0.2 percent to 5,937.34, while the tech-rich Nasdaq Composite Index tumbled 0.9 percent to 19,338.29.

The one-year Loan Prime Rate (LPR), which constitutes the benchmark for the most advantageous rates lenders can offer to businesses and households, was cut from 3.35 percent to 3.1.

The High Court in London will examine over several months whether BHP was partly liable for the 2015 collapse of a dam at a mining waste site in Brazil.

Article continues after this advertisement

US retail sales grew 0.4 percent from November to December, a slower pace than in November but still a solid increase. From a year ago, retail sales were up 3.9 percent in December.

Article continues after this advertisement

The report came on the heels of Wednesday’s consumer price index figures. which eased concerns that the Federal Reserve will keep interest rates high.

Article continues after this advertisement

After rocketing higher in 2024, stocks have begun in 2025 in a choppy fashion as Treasury bond yields have climbed.

Among individual companies, UnitedHealth Group sank six percent as it reported quarterly revenues that missed estimates and disclosed greater-than-expected costs in the just-finished quarter.

Article continues after this advertisement

Fellow Dow member Apple also had a bad day, dropping four percent on worries about its China sales outlook.

Financial heavyweights Bank of America and Morgan Stanley added to the trove of solid bank earnings. Bank of America dipped one percent while Morgan Stanley jumped 4.0 percent.

Your subscription could not be saved. Please try again. Your subscription has been successful.

Subscribe to our daily newsletter

SIGN ME UP

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.hiuslots

READ NEXT US stocks end lower, unable to extend rally BSP eyes PH shift to coin-lite society EDITORS' PICK 10 key moments in the Israel-Hamas war PNP: More voyeurism, online libel cases in 2024 Japan panel says ‘megaquake’ probability up to 82% Thousands across Gaza celebrate ceasefire deal Siargao Island Medical Center: Transforming healthcare for Surigaonons Angel Locsin breaks social media hiatus after recovering X account MOST READ Enrile questions INC ‘logic’ vs VP Sara Duterte impeach raps NLEX warns of heavy traffic on Jan. 18-19 due to PH Arena concert PNP says mall guard in viral video may lose license Weaker peso curbed remittances in November Follow @FMangosingINQ on Twitter --> View comments