US stock Indexes closed modestly lower during Thursday’s thinly-traded preholiday session. With the lower trading volumes expected over the holiday and US Earnings season commencing in a few weeks, investors seemed reluctant to bid up prices of indexes that are already hovering near all-time highs.
The SP 500 and the NASDAQ Composite booked their first consecutive losses in three weeks, as the post-election rally has lost momentum over the last few sessions.
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It’s worth noting that since November 4th, all three of the major US Index have posted respectable gains with the Dow Jones 30 rising 11.2%, the SP 500 up 8.3% and the NASDAQ Composite gaining over 9%.
Therefore, it’s really not surprising to see stocks take a breather going into the Christmas break.
