US Stocks Rally Halted as Fed Interest Rate Cut Enthusiasm Fades
Furniture stocks slumped after President Donald Trump announced a “major Tariff Investigation on Furniture coming into the United States.”
Photographer: David Paul Morris/BloombergThe S&P 500 Index lost steam on Monday, posting a loss for the sixth time in the past seven sessions after last week’s euphoria over interest-rate cuts faded and traders turned their attention back to corporate America’s profit outlook.
The benchmark equities gauge slipped 0.4%, after leaping 1.5% on Friday to trade just shy of records. The Nasdaq 100 Index fell 0.3%. Consumer staples shares were the biggest drag on the market, with Keurig Dr Pepper Inc. the biggest laggard in both indexes, declining 11% after agreeing to buy JDE Peet’s NV for $18.4 billion to bolster its struggling coffee business before kicking off a split of its operations.