About: http://data.cimple.eu/news-article/439376ca186f137975a830b07178ce0cb433b10568f20b32df2323b7

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About: http://data.cimple.eu/news-article/439376ca186f137975a830b07178ce0cb433b10568f20b32df2323b7 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Wall Street stocks mostly fell early Thursday as a rally that has lifted major indices to new records finally showed signs of fatigue. About 15 minutes into trading, the Dow Jones Industrial Average remained modestly positive at 29,135.89, up 0.1 percent. But the broad-based S&P 500 shed 0.7 percent to 3,555.61, while the tech-rich Nasdaq Composite Index tumbled 1.9 percent to 11,822.26, both retreating from record levels set Wednesday, that put the Nasdaq above 12,000 points for the first time. The rally was based on hopes for a strong economic recovery following coronavirus and optimism about vaccines and therapeutics for the virus. Economic data released Thursday showed a bigger-than-expected drop in new jobless claims and an unexpectedly big trade deficit for July. But Briefing.com analyst Patrick O'Hare said the pullback in equities was not the result of fears for the economy, but mostly due to an inevitable reconsideration about excessive valuations following the surge in recent weeks. "Let's not kid ourselves with the idea that worries about COVID, the election, diplomatic tension with China, or the fiscal cliff are the basis for this morning's weakness," O'Hare wrote in a morning note. "The basis for this morning's weakness is the realization that things are getting carried away in terms of trend exuberance and that some profit taking is in order." jmb/hs
schema:headline	US stocks mostly lower as rally shows sign of fatigue
schema:mentions	O'Hare International Airport S&P 500 Index Jobless claims Stock Protest Dow Jones Industrial Average Patrick Star Fatigue USA Gymnastics Balance of trade Virus Coronavirus disease China Coronavirus United States fiscal cliff Pullback bundle NASDAQ Composite
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-09-03 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	65 (xsd:integer)

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