By Katy Barnato and Matt Wirz
A note of caution is creeping into markets as Thanksgiving approaches.
Major indexes are lower, with the Nasdaq Composite leading declines following downbeat outlooks from personal-computer makers Dell and HP.
Elsewhere, stock moves were subdued early in the session, after a readout from the Federal Reserve's preferred inflation gauge. The index showed inflation running at an annual rate of 2.3% as of October, a slight pickup but in line with expectations.
Minutes from the Fed's last meeting, released Tuesday, showed officials discussed easing more slowly if progress in taming inflation waned.
In recent trading:
Major indexes slipped. The Nasdaq Composite led declines. Indexes edged up Tuesday, with the S&P 500 and the Dow notching new records.
Several smaller tech stocks sold off following disappointing results, including Dell, HP, Crowdstrike, Workday and Autodesk. See a longer list of stocks to watch here.
Shares of Symbotic, a warehouse robotics provider, dropped about 40% after the company disclosed a $30 million to $40 million accounting error in its revenue recognition for 2024.
Urban Outfitters stock jumped 16% after the retailer reported better-than-expected earnings.
The dollar weakened. The U.S. currency had strengthened Tuesday against the Canadian dollar and Mexican peso following Trump's tariffs threat.
Benchmark Treasury yields fell, after settling Tuesday around 4.3%.
French stocks led losses in Europe, after data showing worsening consumer sentiment. A key gauge of risk on France's debt rose to a 12-year high.
Stocks in Shanghai and Hong Kong rose after data showed a slight improvement in China's industrial profits.
Bitcoin bounced, but remained some way off the near-$100,000 high hit last week.
Coming up:
U.S. markets will be shut on Thursday for Thanksgiving and will close early on Friday.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
November 27, 2024 14:12 ET (19:12 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
