{"id":290680,"date":"2025-10-10T01:19:13","date_gmt":"2025-10-10T01:19:13","guid":{"rendered":"https:\/\/www.europesays.com\/us\/290680\/"},"modified":"2025-10-10T01:19:13","modified_gmt":"2025-10-10T01:19:13","slug":"wall-streets-feverish-rally-takes-a-break-as-us-stocks-and-gold-pull-back-from-their-records","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/290680\/","title":{"rendered":"Wall Street’s feverish rally takes a break as US stocks and gold pull back from their records"},"content":{"rendered":"

NEW YORK (AP) \u2014 Wall Street took a pause on Thursday as U.S. stocks and even the price of gold<\/a> pulled back from record highs following torrid runs.<\/p>\n

The S&P 500 slipped 0.3% from its latest all-time high<\/a> for just its second loss in the last 10 days. The Dow Jones Industrial Average dropped 243 points, or 0.5%, and the Nasdaq composite edged down by 0.1%. <\/p>\n

Gold also fell following its stellar rally this year, losing 2.4% to drop back below $4,000 per ounce, while Treasury yields held relatively steady in the bond market. They\u2019re taking a moment following big runs driven in large part by expectations that the Federal Reserve will cut interest rates <\/a> to support the economy.<\/p>\n

Financial markets have been climbing so relentlessly, including a 35% leap for the S&P 500 from a low in April, that worries are rising that prices may have shot too high and become too expensive.<\/a> Concerns are particularly strong about the frenzy <\/a> lifting stocks related to artificial-intelligence technology. <\/p>\n

Dell Technologies sank 5.2% for the biggest loss in the S&P 500, but that only trimmed its surge since talking up its AI growth opportunities at an investment conference earlier in the week. The stock is still up nearly 11% for the week so far. <\/p>\n

Tesla also weighed on the market after falling 0.7%. The National Highway Traffic Safety Administration opened a preliminary evaluation of its \u201cFull Self-Driving\u201d<\/a> system due to safety concerns. <\/p>\n

Those losses helped offset a 4.3% ascent for Delta Air Lines, which reported a stronger profit for the summer than analysts expected. <\/p>\n

Delta also gave a forecasted range for profit during the year\u2019s final three months whose midpoint topped analysts\u2019 estimates. Its president, Glen Hauenstein, highlighted a broad-based acceleration in sales trends over the last six weeks, including for business travel domestically. <\/p>\n

Such reports from companies are taking on more significance, offering windows into the strength of the economy. That\u2019s because the U.S. government\u2019s shutdown<\/a> is delaying reports <\/a> that would clearly show how the overall economy is doing. This is the second week where the U.S. government has not published its update on unemployment claims, for example, a report that usually helps guide Wall Street\u2019s trading each Thursday. <\/p>\n

PepsiCo rose 4.2% after delivering a better profit <\/a> for the latest quarter than analysts expected, saying momentum improved for its drinks business in North America.<\/p>\n

Delivering bigger profits is one of two ways that companies can make their stock prices look less expensive following their big rallies. The other is if their stock prices fall. <\/p>\n

Akero Therapeutics leaped 16.3% after Novo Nordisk, the Danish company behind the Wegovy weight-loss drug, said it would buy the drug developer based in South San Francisco, California. The price tag could reach $5.2 billion if Akero\u2019s lead product candidate wins federal regulatory approval. <\/p>\n

MP Materials, a company that mines and processes rare earths in California, rose 2.4% after China announced curbs on its exports <\/a> of the materials, which are critical for the making of everything from consumer electronics to jet engines. <\/p>\n

Costco Wholesale climbed 3.1% after the retailer said its revenue rose 8% in September from a year earlier. <\/p>\n

All told, the S&P 500 fell 18.61 points to 6,735.11. The Dow Jones Industrial Average dropped 243.36 to 46,358.42, and the Nasdaq composite slipped 18.75 to 23,024.63.<\/p>\n

In stock markets abroad, indexes were mixed in Europe after Italy\u2019s Ferrari<\/a> tumbled 15.4% following the release of financial forecasts that some analysts said were below their expectations. <\/p>\n

Stocks in Shanghai leaped 1.3% after trading resumed there following a holiday. <\/p>\n

Japan\u2019s Nikkei 225 jumped 1.8% for another one of the world\u2019s bigger moves. Technology giant SoftBank Group surged 11.4% after announcing a $5.4 billion deal for the robotics unit of Swiss engineering firm ABB.<\/p>\n

In the bond market, the yield on the 10-year Treasury edged up to 4.14% from 4.13% late Wednesday.<\/p>\n

___<\/p>\n

AP Writers Teresa Cerojano and Matt Ott contributed. <\/p>\n","protected":false},"excerpt":{"rendered":"NEW YORK (AP) \u2014 Wall Street took a pause on Thursday as U.S. stocks and even the price…\n","protected":false},"author":3,"featured_media":290681,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[147156,149118,64,276,104799,86048,11289,439,104796,57,149119,59,40176,587,36000,17223,755,16266,7829,67,370,132,68,93,107],"class_list":{"0":"post-290680","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-abb-ltd","9":"tag-akero-therapeutics","10":"tag-business","11":"tag-california","12":"tag-dell-technologies","13":"tag-ferrari-nv","14":"tag-finance-business","15":"tag-financial-markets","16":"tag-financialbusiness","17":"tag-general-news","18":"tag-glen-hauenstein","19":"tag-inc","20":"tag-mp-materials-corp","21":"tag-north-america","22":"tag-novo-nordisk-as","23":"tag-pepsico","24":"tag-softbank-group-corp","25":"tag-stocks-and-bonds","26":"tag-tesla","27":"tag-united-states","28":"tag-united-states-government","29":"tag-unitedstates","30":"tag-us","31":"tag-washington-news","32":"tag-world-news"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115347243873714195","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/290680","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=290680"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/290680\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/290681"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=290680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=290680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=290680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}