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Stocks Turn Lower in Afternoon Trading

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The stock market’s long rally is hitting a wall.

The Dow Jones Industrial Average is down 36 points, or 0.1%, while the S&P 500 and Nasdaq Composite are falling 0.2% and 0.1%, respectively. All three indexes were in the green earlier.

The S&P 500, at just under 4760, has not been able to rise above 4777, as it tries to reclaim its all-time closing high of 4796, hit in January 2022.

It is up more than 23% for the year as the economy continues to grow, inflation declines, and the Federal Reserve is likely to cut interest rates.

Right now, folks are taking profits by selling. It’s been a big rally.

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