A rally that drove stocks to a series of all-time highs ran out of steam, with Wall Street traders awaiting key inflation data and more clues on Donald Trump's transition to presidency.
Equities fell after the S&P 500's biggest five-day run in a year. Following sizable post-election gains, small caps and banks lost ground. Nvidia Corp. led megacaps higher, while Tesla Inc. dropped 3% after soaring 44% in five days. Bitcoin fell after a sizzling advance that took the digital asset close to $90,000. The dollar headed toward its highest since November 2022. Treasury yields climbed as investors prepared for data to show a slight pickup in consumer prices.
The post-election advance in US stocks could stall as investors start to take profits, according to strategists at Citigroup Inc. led by Chris Montagu. Investor exposure to US stocks jumped to the highest since 2013 after the presidential vote amid optimism around stronger economic growth, according to a survey from Bank of America Corp.
The S&P 500 fell 0.2% as of 11:16 a.m. New York time
The Nasdaq 100 fell 0.2%
The Dow Jones Industrial Average fell 0.4%
Source : Bloomberg
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