S&P 500 meanders in relatively tight range with 4,000 acting as ceiling
How are stock-index futures trading On Monday, the Dow Jones Industrial Average DJIA fell 45 points, or 0.13%, to 33700, the S&P 500 SPX declined 15 points, or 0.39%, to 3950, and the Nasdaq Composite COMP dropped 122 points, or 1.09%, to 11025. The S&P 500 is up 10.4% from its 2022 closing low hit on Oct. 12, but remains down 17.1% for the year to date.
Adding to the caution was a holiday-shortened week for Wall Street, where volumes traditionally tend to thin notably in the run up to Thanksgiving on Thursday and Black Friday. The lackluster action in stocks also reflects a market that has stalled following a rally off 2022 lows, and as investors look to the next catalyst to help push the S&P 500 out of its recent relatively tight range of roughly 50 points, on a closing basis, held over the past two weeks.
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