U.S. stocks fell on Wednesday after weak durable goods figures and a downbeat assessment of the economy from the Fed's Beige Book kept the benchmark S&P 500 trapped below its 200-day moving average.
A three-day rally built on strong earnings boosted the index to close Monday above its 200-day moving average, a closely watched measure of market direction. It has since stalled as trading remains rangebound and technically driven.
"In the short run technicals are dominating daily movements here until we get a fundamental (piece of news) to knock us off that," said Jim Paulsen, chief investment officer at Wells Capital Management.
Index Value: | 10,497.88 |
Trade Time: | 4:04PM EDT |
Change: | ![]() |
Prev Close: | 10,537.69 |
Open: | 10,537.01 |
Day's Range: | 10,463.22 - 10,548.52 |
52wk Range: | 8,967.26 - 11,309.00 |