US: Stocks retreat from records ahead of Trump speech
[NEW YORK] Wall Street stocks dipped early Tuesday, retreating from records ahead of a major congressional address by President Donald Trump that is expected to lay out his administration's priorities.
Mr Trump has said he will boost military spending, while cutting back on social spending programs. The market is also looking for details from Trump on a tax cut plan, the promise of which has propelled US stocks to record highs since the US presidential election.
About 15 minutes into trade, the Dow Jones Industrial Average was at 20,826.37, down 0.1 per cent.
The broad-based S&P 500 lost 0.2 per cent at 2,366.31, while the tech-rich Nasdaq Composite Index fell 0.2 per cent to 5,849.28.
Both the Dow and S&P 500 closed at records on Monday.
AFP
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
South Korea readies new system to detect illegal short-selling
Asia: Markets mixed as global rally stalls, eyes on yen
Singapore shares retreat at Thursday’s open; STI down 1.1%
Stocks to watch: Keppel, FCT, Suntec Reit, OUE Reit, Clint, Digital Core Reit, OKP, Cordlife
Europe: Stoxx 600 falls on banks drag; tech contains losses on ASMI boost
US: Stocks end flat ahead of key inflation data