U.S. stocks were little changed Thursday, as investors tried to recapture the postelection momentum that lifted the major averages to record highs.
The Dow Jones Industrials folded 73.83 points to 43,884.36.
The S&P 500 dived 14.35 points to 5,971.14.
The NASDAQ Composite slid 62.04 points to 19,168.68.
Disney shares popped 9% after the media giant reported better-than-expected fiscal fourth-quarter results, boosting the Dow. The company got a boost from strong streaming growth driving its entertainment business.
Those moves come after the October producer price index released Thursday rose 0.2%, matching forecasts from economists polled by Dow Jones.
PPI excluding food and energy ran faster than forecast. The October consumer price index came in as expected on Wednesday, but nevertheless signaled the Federal Reserve’s fight against inflation is yet to be won. Core CPI rose by 0.3% for a third straight month, with the 12-month rate at 3.3%.
Investors are deliberating whether a postelection rally following Donald Trump’s decisive victory last week still has room to run after powering the major averages to new milestones. The Dow closed above 44,000 for the first time on Monday, and both the S&P 500 and NASDAQ Composite notched new highs.
Investors will also closely monitor scheduled remarks from Fed Chair Jerome Powell on Thursday in Dallas, while the October retail sales report is due out Friday.
Prices for the 10-year Treasury gained a slight bit of ground, pushing yields down to 4.42% from Wednesday’s 4.45%. Treasury prices and yields move in opposite directions.
Oil prices regained 72 cents to $69.15 U.S. a barrel.
Prices for gold dipped $14.80 an ounce to $2,571.70 U.S.
