U.S. stocks ended Thursday’s thinly-traded preholiday session with modest losses as investors seemed reluctant to bid up prices of indexes that are already hovering near all-time highs. The S&P 500 and Nasdaq Composite booked their first consecutive losses in three weeks, as the “Trump rally” lost momentum over the past few sessions.
- The gains are far better than the consensus Wall Street forecasts of low single-digit gains and come after what had been one of the worst starts to a calendar year in history.
- Still, the market’s recent retrenchment could be a sign that Wall Street investors are seriously reassessing the pro-business proposals by President-elect Donald Trump that have supported the brisk stock-market rally.
- The most likely policy change that has not been talked much is deregulation, some of which Trump can do without the help of Congress.
“U.S. stocks ended Thursday’s thinly-traded pre holiday session with modest losses as investors seemed reluctant to bid up prices of indexes that are already hovering near all-time highs.”