Wall Street's New Year Rally Hits First Roadblock: Dow Drops 450 Points as Profit-Taking Sets In
The S&P 500 and Dow retreated from record highs as investors locked in gains from the 'Freedom Rally,' with financials and energy leading the selloff.
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The S&P 500 and Dow retreated from record highs as investors locked in gains from the 'Freedom Rally,' with financials and energy leading the selloff.
Intel unveiled its Core Ultra Series 3 processors at CES 2026, marking the first major deployment of its 18A manufacturing process and a critical milestone in the company's turnaround.
Alaska Airlines announces its biggest-ever aircraft order with 110 Boeing planes worth billions, marking a major expansion push into international markets.
Nvidia announced its next-generation Vera Rubin AI superchip has entered full production nearly two quarters ahead of schedule, delivering 5x better inference performance than Blackwell at 10x lower cost per token.
Philadelphia Fed President Anna Paulson expressed 'cautious optimism' on inflation, signaling that rate cuts could be appropriate later in 2026 if price pressures continue to moderate toward the 2% target.
Gold prices fell 1.36% on Wednesday as investors took profits following bullion's historic 64% gain in 2025. Analysts expect the pullback to be temporary as long-term fundamentals remain bullish.
Warner Bros. Discovery rejected Paramount's amended $108 billion takeover offer, calling it 'inferior' to the $82.7 billion Netflix acquisition. The board cited financing risks in Paramount's leveraged buyout proposal.
Motorola unveiled the Razr Fold at CES 2026, its first book-style foldable phone with a 6.6-inch cover display and 8.1-inch inner screen. Set to launch in summer 2026.
A stark divide is emerging at the Federal Reserve. Minneapolis Fed's Kashkari says rates are 'close to neutral,' while Governor Miran calls for over 100 basis points of cuts in 2026.
Major bank stocks gave back gains Wednesday as JPMorgan, Bank of America, and Wells Fargo each fell more than 2%. The pullback comes after a blistering start to 2026.
The ISM Services PMI registered 54.4% in December, its highest reading of 2025. All four subindexes are in expansion territory for the first time since February.
Gulf Coast refiner stocks surge after Trump announces Venezuela will turn over 30-50 million barrels of oil to the U.S. Valero, Marathon Petroleum, and Chevron lead gains.