Stocks struggled to make headway, following a furious post-election rally that spurred calls for a breather amid signs of buyer fatigue.
Equities wavered near all-time highs, with the S&P 500 remaining close to technically overbought levels. That's after a surge that drove the benchmark gauge up 25% this year. Several measures highlight strong trader optimism, including the latest figures from the American Association of Individual Investors, which showed a spike in bullish sentiment last week.
In the run-up to Jerome Powell's speech on Thursday, traders waded through economic data. US producer prices picked up in October, fueled in part by gains in portfolio management and other categories that feed into the Federal Reserve's preferred inflation gauge. Applications for unemployment benefits fell to the lowest level since MayIn the run-up to Jerome Powell's speech on Thursday, traders waded through economic data. US producer prices picked up in October, fueled in part by gains in portfolio management and other categories that feed into the Federal Reserve's preferred inflation gauge. Applications for unemployment benefits fell to the lowest level since May.
The S&P 500 fell 0.1% as of 11 a.m. New York time.
The Nasdaq 100 fell 0.2%.
The Dow Jones Industrial Average was little changed.
Source : Bloomberg
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