The three major indexes finished Thursday’s session in the red, and they are bound for weekly losses.
losing dayStocks took a leg down in afternoon trading after Federal Reserve Chairman Jerome Powell said during an event in Dallas that theThe three major indexes are also tracking to end the week lower, giving up some gains seen during last week's climb on the back of Donald Trump's victory in the presidential election. The Nasdaq Composite has dropped 0.9% this week, while the S&P 500 and Dow have shed 0.8% and 0.5%, respectively.
"Investors are catching their breath and evaluating whether the advance has merit," said Sam Stovall, chief investment strategist at CFRA Research."We really don't see anything on the horizon right now to upend stocks, but investors are always sort of looking around to see what could cause the trend to end."Investors will watch Friday for economic data on retail sales, import prices and industrial production.
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