MARKET SNAPSHOT: Stock Market Fights For Traction Higher On Anniversary Of Trump Election Day Win
By Mark DeCambre and Victor Reklaitis, MarketWatch
Snap, LendingClub, Fossil set for big down days after earnings
U.S. stocks struggled to gain upward momentum on Wednesday, opening nearly flat as lawmakers' efforts to pass tax reform came into focus and President Donald Trump's trip to Asia, highlighted lingering tensions with North Korea (http://www.marketwatch.com/story/trump-warns-north-korea-do-not-try-us-2017-11-07).
What are the main benchmarks doing?
The Dow Jones Industrial Average , which rung up a fresh all-time closing high on Tuesday (http://www.marketwatch.com/story/us-stocks-regroup-for-another-bid-on-all-time-highs-2017-11-07), was down 15 points, or 0.1%, at 23,540, the S&P 500 index was down 2 points, or 0.1%, at 2,588. Meanwhile, the technology-oriented Nasdaq Composite Index was little changed at 6,766.
The three gauges are up between 16% and 26% for the year as of Tuesday's close, helped by factors such as an expanding U.S. economy, improving corporate profits and bets that the Trump administration, a year after he was elected into office, will deliver tax reform and other business-friendly measures.
See:Dow's 1-year gain since Trump's win is its biggest post-Election Day rise since 1945 (http://www.marketwatch.com/story/the-dows-one-year-gain-since-trumps-election-is-its-biggest-since-1945-2017-11-08)
What are strategists saying?