An NYSE sign is seen on the floor at the New York Stock Exchange in New York, on June 15, 2022. Stocks are opening lower again on Wall Street, continuing a weak patch that has wiped out much of the gains the market made in July and early August. The S&P 500 lost about half a percent in the early going Thursday, Sept. 1. (AP Photo/Seth Wenig, File)
NEW YORK (AP) — Stocks fell in morning trading on Wall Street Thursday, knocking out some of the gains from a day earlier but keeping the market on track to break a three-week losing streak.
The S&P 500 fell 0.1% as of 9:56 a.m. Eastern. The benchmark index is holding on to a 1.3% gain for the week. The Dow Jones Industrial Average fell 58 points, or 0.2%, to 31,493 and the Nasdaq fell 0.1%.
Technology and communications stocks were the biggest weights on the broader market. Intel slipped 1.8% and Netflix fell 2.5%.
Interest rates policies were in sharp focus for investors as the European Central Bank made its largest-ever rate increase, in line with moves from the U.S. Federal Reserve and other central banks to fight inflation. The bank’s 25-member governing council raised its key benchmark by three-quarters of a percentage point Thursday.
Meanwhile Fed Chair Jerome Powell reaffirmed the Fed’s commitment to keep rates high “until the job is done” in getting inflation under control.
Market focus remains on the highest inflation in decades and the Fed’s attempt to rein it in with high interest rates. The U.S. central bank has already raised rates four times this year and markets expect it to deliver another jumbo-sized increase of three-quarters of a percentage point at its next meeting in two weeks.
Markets in Europe were lower and markets in Asia were mixed. Japan's benchmark Nikkei 225 surged 2.3%.
Mid-cap stocks are defined as those of companies that have a market capitalization (market cap) between $2 billion and $10 billion. This is a class of stocks that can offer solid growth and value. However, mid-cap stocks can be overlooked by even the most experienced investors.
One of the advantages of owning mid-cap stocks is diversification. Large-cap stocks can mitigate much of the volatility in the market, but they also can limit the upside growth. Small-cap stocks may offer strong growth potential, but they may not be a good choice for investors with a low-risk tolerance. By contrast, the right mid-cap stocks can be a Goldilocks alternative.
In this presentation, we're analyzing seven mid-cap stocks that are showing a nice mix of growth and value. The stocks cover a variety of sectors, and there are stocks for investors of all styles.
View the "7 Mid-Cap Stocks That Can be the Perfect Fit at Any Time".