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Wall Street's hot start to the year cools as stocks drift
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....all Street's hot start to the year cools as stocks drift<BR>PTI News<BR>Dated:- 7-1-2026<BR>PTI<BR>New York, Jan 7 (AP) Wall Street's hot start to the year is cooling a bit on Wednesday. The S&P 500 edged down by 0.1 per cent from its latest all-time high. The Dow Jones Industrial Average dropped 197 points, or 0.4 per cent, from its own record set the day before, while the Nasdaq composite was ....
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....up 0.2 per cent, as of 10:15 am Eastern time. Cal-Maine Foods fell 5 per cent for one of the stock market's bigger losses, even though the egg company reported a stronger profit for the latest quarter than analysts expected. Lower prices for eggs dragged the company's revenue down by more than expected. But moves were quiet across much of the rest of the US stock market, including for Warner B....
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....ros Discovery after it again rejected a buyout bid from Paramount and told its shareholders to stick with a rival offer from Netflix. Warner Bros Discovery added 0.1 per cent, while Paramount Skydance slipped 0.2 per cent and Netflix edged down by 0.2 per cent. In the oil market, crude prices fell after President Donald Trump said that Venezuela would provide 30 million to 50 million barrels o....
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....f oil to the United States. A barrel of benchmark US crude dropped 1.4 per cent to USD 56.33. Brent crude, the international standard, fell a more modest 0.7 per cent to USD 60.26 per barrel. Any additional oil flowing from Venezuela into the global system would push down on crude prices by increasing their supplies. Prices for oil have swung this week following Trump's weekend ouster of the pre....
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....sident of Venezuela, which is likely sitting on some of the largest deposits of oil in the world. Oil prices had already fallen back to where they were in 2021, before Trump's move against Venezuela, because of expectations of plentiful supplies. To pull much more oil from Venezuela's ground, though, would likely require big investments to improve aging infrastructure. In the bond market, Trea....
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....sury yields swung following several mixed reports on the US economy. One of the most impactful said that growth for US retailers, finance companies and other businesses in the services sectors accelerated by more last month than economists expected. Not only that, the report from the Institute for Supply Management also said that a measure of inflation eased to its lowest level since March. To....
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.... be sure, company executives are still saying they're feeling pressures from inflation and an uncertain economy. “In general, business is flat,” one business in the agriculture, forestry, fishing and hunting industry told the ISM. “Value brands are still experiencing higher demand. But premium brands struggle to maintain market share.” But any improvements will nevertheless sound good to....
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.... officials at the Federal Reserve, who are trying to shore up the job market while pushing down on inflation, which has stubbornly remained above the Fed's 2 per cent target. Separate reports Thursday on the job market offered a mixed view. One said that employers cut back on the number of job openings they were advertising, while a second suggested that employers outside of the government added....
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.... 41,000 more jobs last month than they cut. A much more comprehensive look at the health of the US job market will arrive on Friday. The yield on the 10-year Treasury eased to 4.15 per cent from 4.18 per cent late Tuesday following Wednesday's economic reports. But the two-year yield, which more closely tracks expectations for what the Fed will do, held at 3.47 per cent, where it was late Tues....
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....day. The hope on Wall Street is that the economy remains solid enough to avoid a recession but not so strong that it keeps the Federal Reserve from cutting interest rates. The Fed cut its main interest rate three times last year to shore up the slowing job market, but it's indicated fewer cuts may be ahead because inflation remains high. In stock markets abroad, indexes were mixed among some s....
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....harp moves across Europe and Asia. Indexes dropped 0.8 per cent in London, 0.9 per cent in Hong Kong and 1.1 per cent in Tokyo, while rising 0.6 per cent in Seoul. (AP) NPK NPK<BR> News - Press release - PIB....