Stocks are down today, but it’s not due to any negative news affecting the market on Friday!
Instead, the stock market is simply retreating after undergoing a recent rally throughout this week. That was brought on by better-than-expected inflation data in the October Consumer Price Index () report.
With that news, investors celebrated in the first half of the week as the data gave hope that the Federal Reserve won’t introduce any more rate increases in the near future. That’s a positive for the market, as the Fed’s battle with inflation has been weighing on the market for roughly a year now.
Even with stocks slipping on Friday, the market’s performance throughout November has been positive. Now, investors will just have to hold out hope that the market doesn’t give up too much of the headway it has made this month.
Let’s check out how the major indices are performing below!
Stocks Down Today: Major Indices Dip
- Starting us off is the S&P 500 with a minimal 0.06% slip as of Friday morning.
- Next on our list is the Dow Jones Industrial Average with its 0.09% drop today.
- Closing us out is the Nasdaq Composite as it falls 0.19% this morning.
There are plenty of other stock market happenings on Friday that traders are going to want to read about!
Fortunately, we have them covered with our deep dives into the hottest stock market news today! A few examples include what’s happening with shares of Manchester United (NYSE:MANU) stock, Fisker (NYSE:FSR) stock and Archer Aviation (NYSE:ACHR) stock today. You can catch up on all of this news at the following links!
More Stock Market News for Friday
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Article printed from InvestorPlace Media, https://investorplace.com/2023/11/why-are-stocks-down-today-nov-17th/.
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