Markets

Stocks Retreat as Election Day Rally Fades

Various market performance charts

Wall Street's impressive post-Election Day rally has come to a quiet end on Friday as profit-taking fades some of this week's gains, leaving the benchmark averages in the red for the first time in 4 days.

Losses have been mitigated, however, by an unexpected improvement in consumer sentiment. The University of Michigan preliminary November index rose to 91.6 from October's final 87.2, beating expectations for a slight decline to 87.1.

Among the eleven S&P 500 sectors, healthcare and energy are taking on the heaviest losses while technology shares are staging a modest rebound on strength in the chipmaker segment after Nvidia ( NVDA ) reported its best quarter in six years.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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