- Wall Street’s main indexes fell for a third session on Wednesday, with the S&P 500 posting its biggest one-day decline in a month, as healthcare and energy shares slumped and investors sought reasons to buy after the market’s strong rally to start the year.
Optimism over a trade deal and over the Federal Reserve becoming less aggressive on raising interest rates have helped fuel a 10.6 percent rise for the S&P 500 this year, although the rally has stalled in recent days. “The market has had a great move up,” said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. “You can’t really say that things are cheap any more.”
Tuesday’s surprise resignation of Food and Drug Administration commissioner Scott Gottlieb raised uncertainty about biotech and pharmaceutical stocks in a sector that already has been shaken by the potential for drug-pricing and other healthcare legislation. In its regular “Beige Book” report, the Fed said slowing global growth and the 35-day partial federal government shutdown weighed on the U.S. economy in the first weeks of 2019, but it continued growing amid still-tight labor markets.
Source: Energy Industry News (energyindustrynews.net)
was it supposed to go up indefinitely? $SPY $SPX $QQQ $VIX $IWM $RUT $XLE $DIA $USD $GDX
Speaking of slumps, I am sure that someone will write a book calling this era 'The Trump Slump.'
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