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  • Home>UPDATE: Stock market struggles to gain altitude on anniversary of Trump Election Day win

    UPDATE: Stock market struggles to gain altitude on anniversary of Trump Election Day win

    UPDATE: Stock market struggles to gain altitude on anniversary of Trump Election Day win

    11/08/2017

    By Mark DeCambre and Victor Reklaitis, MarketWatch

    Snap Inc.'s stock falls about 16% after quarterly results

    U.S. stocks traded little changed late Wednesday morning 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 13 points, or less than 0.1%, at 23,545, led by declines in shares of components J.P. Morgan Chase & Co.(JPM) and Chevron Corp. (CVX) as crude-oil prices adding to a decline following inventory data.

    The S&P 500 index was down about a point, or less than 0.1%, at 2,589. Meanwhile, the technology-oriented Nasdaq Composite Index was tipping 6 points, or less than 0.1%, at 6,773.

    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)