757-242-3566 Tuesday, November 28, 2023  
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Wall Street Drifts Early Tuesday       11/28 09:53

   Stocks were listless in morning trading on Tuesday as the market's big 
November rally continues to stall.

   NEW YORK (AP) -- Stocks were listless in morning trading on Tuesday as the 
market's big November rally continues to stall.

   The S&P 500 slipped 0.1% and remains on track to close out November with its 
strongest monthly gain of the year. The Dow Jones Industrial Average was mostly 
unchanged as of 10:14 a.m. Eastern. The Nasdaq fell 0.2%.

   Bond yields were relatively steady. The 10-year Treasury yield, which 
influences mortgage rates, rose to 4.40% from 4.39% late Monday. Crude oil 
prices edged higher.

   Markets in Asia and Europe were mixed.

   Technology and health care stocks were among the biggest weights on the 
market. Chipmaker Nvidia fell 1.3%% and Thermo Fisher Scientific fell 1.4%.

   Wall Street remained relatively quiet as investors move past the latest 
round of corporate earnings, though there are still several large companies on 
deck to report their most recent financial results. TurboTax parent company 
Intuit, Hewlett Packard Enterprise and tech company NetApp will all report 
their results after the closing bell.

   Investors are closely watching several economic updates this week for more 
clues about how consumers feel and whether the rate of inflation is still 

   Consumer confidence remains strong heading into the holiday shopping season. 
The Conference Board's November consumer confidence survey released Tuesday 
topped analysts' forecasts.

   On Thursday the government releases its October data on the Federal 
Reserve's preferred measure of inflation. Economists expect that measure to 
continue easing, as it has been since the middle of 2022. The loosening grip 
from inflation and a resilient economy have raised hopes that the Federal 
Reserve might finally be finished with raising its benchmark interest rate. 
That has helped fuel a rally on Wall Street.

   The benchmark S&P 500 index is up 8.3% in November, on track for its biggest 
monthly gain of 2023. Every major index is headed for a solid November gain.

   The big focus for Wall Street will remain on the Fed, which will meet again 
in December to update its interest rate policy. Investors are betting that it 
will hold its benchmark rate steady.


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