U.S. stocks dipped on Thursday as a jump in the prior session cooled, while investors eyed the most recent corporate earnings and gauged economic data to determine the path of Federal Reserve rate cuts.
A benign reading on inflation calmed fears about a renewal in price pressures and strong bank earnings helped the three major U.S. indexes notch their biggest one-day percentage gain since Nov. 6 on Wednesday.
Morgan Stanley (MS.N), advanced 4.03% after the lender said earnings increased in the fourth quarter, propelled by a wave of dealmaking, while Bank of America (BAC.N), shares declined 0.98%. The country's second-largest bank predicted higher interest income in 2025.
The Dow Jones Industrial Average (.DJI), fell 68.42 points, or 0.16%, to 43,153.13, the S&P 500 (.SPX), lost 12.57 points, or 0.21%, to 5,937.34 and the Nasdaq Composite (.IXIC), lost 172.94 points, or 0.89%, to 19,338.29.
Investors also focused on comments from Fed Governor Christopher Waller, who said the central bank could cut rates sooner and faster than expected as inflation is likely to continue to ease, which helped push Treasury yields lower.
Source : Reuters
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