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dow jones marks longest losing streak since 1978 ahead of fed meeting
The Dow Jones Industrial Average closed lower for the ninth consecutive session, marking its longest losing streak since 1978, as investors await the Federal Open Market Committee's interest rate decision. Despite a mixed economic outlook, a rate cut is expected, with a 95.4% probability of a 25 basis point reduction. Apple and Tesla stocks are on the rise, with Apple reclaiming its title as the world's largest company and Tesla experiencing significant gains post-election, driven by optimistic projections for future growth.
stocks retreat as investors await inflation data and interest rate implications
Stocks closed lower as investors awaited the upcoming Consumer Price Index report, with the Nasdaq Composite down 0.25%, S&P 500 down 0.30%, and Dow Jones down 0.35%. Alphabet's GOOGL surged 5.6% following the introduction of its quantum computing chip, Willow, while Oracle and MongoDB faced significant declines after disappointing earnings and management changes.
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