The stock rally stalled as the S&P 500 pulled back after hitting record highs

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A trader works on the floor of the New York Stock Exchange (NYSE) in New York, US, March 9, 2020.Brian R. Smith

  • The rally in U.S. stocks stalled on Thursday after the S&P 500 hit a record high.

  • Trump’s deregulation plans and big AI investment announcement helped boost stock prices this week.

  • Investors are focused on fourth quarter earnings and the upcoming Federal Reserve meeting.

The rally in U.S. stocks stalled on Thursday, with stocks trading mixed and S&P 500 After peaking in the first week of Donald Trump’s presidency, it plunged.

It helped fuel Trump’s plans to bring about a wave of deregulation. “Animal Ghosts” on Wall Street Raising stock prices.

A 500 billion dollar investment announcement For AI infrastructure this week also juiced technology stocks, but the Nasad 100 It gave up some of those gains and fell about half a percent in Thursday’s trading session.

Investors also reported jobless claims on Thursday, which rose slightly to a reading of 223,000 from 217,000 last week. That was slightly higher than economists’ estimate of 221,000.

But this week and the coming weeks will be of great interest to investors Fourth quarter earnings results.

Of the 14% of S&P 500 companies that have reported earnings so far, 78% are beating earnings estimates by an average of 6%, according to data from Fundstrat.

The big earnings show begins next week, when megacap tech companies including Apple, MetaPlatforms and Tesla prepare to report results.

Investors are also bracing for the Federal Reserve’s policy meeting next week. While markets expect central bank rates to be left unchanged, comments by Fed officials could move markets if they signal any change in interest rates that markets are pricing in this year.

Here’s where U.S. indexes stood after the opening bell at 9:30 a.m. Thursday:

Here’s what else is going on:

In commodities, bonds and crypto:

  • West Texas Intermediate Crude oil rose 0.05% to $75.48 a barrel. Brent RawThe international benchmark rose by 0.10% to $79.08 a barrel.

  • Gold It fell 0.75% to $2,750.00 an ounce.

  • The 10-year Treasury yield jumped 5 basis points to 4.665 percent.

  • Bitcoin Down 1.07% to $102,556.

Read the original article on Business Insider