After eight consecutive positive sessions, Wall Street hit a pause. The S&P 500 and Nasdaq 100 indices ended Tuesday’s session with slight declines, halting their best winning streaks since May 2024 and October 2023, respectively.
The day was characterized by a lack of economic data, leading to a significant drop in trading volumes across major U.S. stock exchanges.
Fed Governor Michelle Bowman delivered hawkish comments in the afternoon, stating that she still sees upside risks to inflation. This did little to improve an already negative session.
Bowman further emphasized that wage gains remain above the pace consistent with the Fed's inflation goal, and stressed the need to remain vigilant on the price-stability side of the Fed’s mandate while monitoring risks of a material weakening in the labor market.
Tuesday’s Major Drags On S&P 500, Nasdaq 100
The S&P 500, tracked by the SPDR ...
