cloudyn.png
Thursday April 15th, 2021 6:09AM

Stocks fall in morning trading, holding near record highs

By The Associated Press
Related Articles
  Contact Editor

Stocks edged lower on Wall Street in morning trading Wednesday, easing further from their record highs as investors remain cautiously optimistic about the economic recovery.

Vaccine distribution has been ramping up and President Joe Biden has bumped up his deadline for states to make doses available to all adults by April 19. The vaccines are helping to fuel a recovery, but the virus is still very much a threat as variants are discovered and threaten additional lockdowns.

The S&P 500 was down 0.1% as of 11:39 a.m. Eastern. Nearly three-fourths of the companies in the benchmark index were lower, with industrials, materials and health care stocks among the decliners. Those losses kept gains in technology, communication and other companies in check. The Dow Jones Industrial Average fell 68 points, or 0.2%, to 33,361, while the Nasdaq slid 0.2%.

Bond yields fell after heading higher in the early going. The yield on the 10-year Treasury slipped to 1.64% from 1.65% late Tuesday. Rising yields have raised some concerns about inflation and its potential to stunt the economic recovery.

Traders will be looking ahead to the release later in the day of minutes from the Federal Reserve’s latest meeting on interest rate policy to watch for clues about the Fed’s thinking about the economy and how long it might wait before eventually raising rates.

The broader market has been mostly subdued since the S&P 500 reached another record high on Monday. Stocks within the index are just about evenly split between gainers and losers.

Analysts expect the recovery to continue, but they also expect the market remain choppy as investors shift money to companies and industries that stand to benefit from as the pandemic eases.

Carnival, which essentially shut down during the pandemic, rose 3.8% for one of the biggest gains in the S&P 500. Other cruise line operators also gained ground as they plan to restart operations.

In Europe, France's CAC 40 edged 0.1% higher, Germany's DAX fell 0.2%, and Britain's FTSE rose 1%. Markets in Asia were mixed.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy, AP Business - Financial Markets
© Copyright 2021 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Jill Biden announces next steps for military family program
Jill Biden is bringing a new focus to an old cause: supporting America's military families
12:04PM ( 1 minute ago )
Stocks fall in morning trading, holding near record highs
Stocks are headed lower in morning trading Wednesday, hovering near record highs as investors remain hopeful but cautious about the economic recovery
11:54AM ( 12 minutes ago )
Greece to reopen schools using self-test kits for COVID-19
Kits for self-administered coronavirus tests have begun arriving in Greek pharmacies, with residents entitled to one kit free of charge per week as part of efforts to tackle a surge of coronavirus cases and hospitalizations
11:48AM ( 18 minutes ago )
Associated Press (AP)
The Latest: CDC: Variant found in Britain most common in US
A variant of the coronavirus first identified in Britain is now the most common strain of coronavirus circulating in the United States
11:17AM ( 48 minutes ago )
EU agency: Rare clots possibly linked to AstraZeneca shot
The European Union drug regulator says that it found a “possible link” between the AstraZeneca coronavirus vaccine and a rare clotting disorder
10:46AM ( 1 hour ago )
UK agency: Under-30s to be offered non-AstraZeneca vaccine
The United Kingdom’s drug regulator says the AstraZeneca vaccine has huge benefits but people under 30 will be offered another product due to a rare blood clot risk
10:33AM ( 1 hour ago )
AP Business
Global stocks mostly rise after lackluster day on Wall St
Global shares are mostly higher as progress on coronavirus vaccinations countered worries over flaring outbreaks in many countries
5:44AM ( 6 hours ago )
Asian stocks mixed after lackluster day on Wall Street
Asian shares are mixed after Wall Street took a breather, with major indexes edging lower
3:20AM ( 8 hours ago )
AP Interview: India could resume vaccine exports by June
The world’s largest vaccine maker, based in India, will be able to restart exports of AstraZeneca doses by June if new coronavirus infections subside in the country, its chief executive says
8:20PM ( 15 hours ago )
AP Business - Economy
Japan's Toshiba studies acquisition proposal by global fund
Japan's Toshiba Corp. says it is carefully considering a preliminary acquisition proposal
2:54AM ( 9 hours ago )
Watchdog: Lebanon's vaccination of refugees, migrants lags
A leading international rights group says Lebanon’s vaccination campaign has been slow and risks leaving behind some of the country’s most vulnerable people
11:19AM ( 1 day ago )
Stocks open lower, pulling the S&P 500 below record high
Stocks are opening lower on Wall Street, pulling major indexes slightly below the record highs they reached a day earlier
9:46AM ( 1 day ago )
AP Business - Financial Markets
Greece to reopen schools using self-test kits for COVID-19
Kits for self-administered coronavirus tests have begun arriving in Greek pharmacies, with residents entitled to one kit free of charge per week as part of efforts to tackle a surge of coronavirus cases and hospitalizations
11:48AM ( 18 minutes ago )
Expert: Chauvin never took knee off Floyd's neck
A use-of-force expert says Derek Chauvin's weight was bearing down from his knee and pushing into George Floyd’s neck the entire time that he was handcuffed behind his back and lying face-down
11:46AM ( 19 minutes ago )
Medic who shot 2 was assigned to medical research center
A Navy medic who shot and wounded two U.S. sailors before security forces shot and killed him at a nearby Army base had been assigned to a medical research center in Maryland for nearly two years
11:45AM ( 20 minutes ago )
Turkey sentences dozens to life terms over 2016 failed coup
Turkey's state-run news agency says a Turkish court has sentenced dozens of people, including former soldiers attached to the presidential guard regiment, to life imprisonment over their involvement in the 2016 failed coup attempt against President Recep Tayyip Erdogan’s government
11:42AM ( 23 minutes ago )
The Latest: WH: Expand vaccines to community health centers
The federal government is expanding COVID-19 vaccine access to all federally qualified community health centers
11:35AM ( 31 minutes ago )