NEW YORK - U.S. stocks eased further from recent record highs on Thursday as energy shares dropped along with oil prices and investors continued to digest comments by Federal Reserve Chairman Jerome Powell.
Powell’s comments on Wednesday that a decline in inflation this year could be due to transitory factors dampened some investors’ hopes that the U.S. central bank could move later this year to cut interest rates, market watchers said. The index has rallied more than 16 percent this year and is entering a period of the year traditionally known as being difficult for equities over the next six months.
With the first-quarter earnings season winding down, investors are looking for fresh catalysts such as U.S.-China trade developments and economic data. Among gainers, Qualcomm Inc rose 0.9% after analysts said the chipmaker was well positioned in the 5G networks space even as it forecast disappointing current-quarter sales.Among decliners, Dow Inc, the commodity chemicals division spun off from DowDuPont Inc, tumbled 6.1% after reporting a fall in core earnings.
Source: News Formal (newsformal.com)
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