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The Dow Jones Industrial Average in Wednesday afternoon trade was on pace to mark its longest streak without a gain of at least 1% in more than a decade, according to WSJ Market Data Group. The Dow hasn’t posted a rise of at least 1% since April 25, when it rallied 232 points or 1.1%. If it fails to do so on Wednesday, it would mark 84 trading days without such an advance, the longest since an 102-session streak ended March 2007. The Dow narrowly missed a 1% gain in Tuesday’s nearly 200-point rally–its best one-day gain in four months, but a failure to do so matched the 83-session streak without a 1% climb ended August 2014. Overall, Wall Street stocks were retreating as investors fret that comments made by President Donald Trump at a rally of supporters late Tuesday in Phoenix suggest that he is willing to let a looming government shutdown happen in autumn. In most recent trade, the Dow was off 0.3% at 21,831, the S&P 500 index was off 0.2% at 2,447, while the Nasdaq Composite Index was trading 0.2% lower at 6,287.

–Ken Jimenez contributed to this report

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From:: Stock Market News

House Speaker Paul Ryan said Wednesday Congress doesn’t have to choose between shutting down the government and border security, including the wall President Donald Trump wants. Trump threatened Wednesday night to shut the government down if lawmakers don’t approve money for the wall. Ryan told reporters in Oregon that the House has already approved some money for the wall, and also said he expects Congress will need “more time” past Sept. 30 to fund the government.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

McDonald’s Corp. pledged Wednesday to cut down on the use of antibiotics in its chicken supply worldwide in 2018. From January 2018, McDonald’s will stop serving broiler chicken treated with antibiotics defined as important to human medicine in the U.S., Brazil, Canada, South Korea and Japan. It will keep the antibiotic Colistin in its chicken in Europe. By the end of 2019, it will be cut out that antibiotic in its broiler chicken supply in Europe and turn its attention to Australia and Russia. By January 2027, the plan is to eliminate those antibiotics in broiler chicken in the rest of its designated markets. McDonald’s has also been working to cut out the use of key antibiotics in beef, dairy cows, pork and laying hens. Shares of McDonald’s were down less than 1% Wednesday afternoon. Shares of McDonald’s have gained 3% in the past month, while the S&P 500 has lost 1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

The Dow Jones Industrial Average in Wednesday afternoon trade was on pace to mark its longest streak without a gain of at least 1% in more than a decade, according to WSJ Market Data Group. The Dow hasn’t posted a rise of at least 1% since April 25, when it rallied 232 points or 1.1%. If it fails to do so on Wednesday, it would mark 84 trading days without such an advance, the longest since an 102-session streak ended March 2007. The Dow narrowly missed a 1% gain in Tuesday’s nearly 200-point rally–its best one-day gain in four months, but a failure to do so matched the 83-session streak without a 1% climb ended August 2014. Overall, Wall Street stocks were retreating as investors fret that comments made by President Donald Trump at a rally of supporters late Tuesday in Phoenix suggest that he is willing to let a looming government shutdown happen in autumn. In most recent trade, the Dow was off 0.3% at 21,835, the S&P 500 index was off 0.3% at 2,445, while the Nasdaq Composite Index was trading 0.3% lower at 6,279.

–Ken Jimenez contributed to this report

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Gold prices climbed Wednesday to recoup much of their losses from the previous session. Weakness in the U.S. dollar and losses in the stock market drew investors to the perceived safety of gold as the market awaited clues on any changes to monetary policy from global central bankers at a three-day meeting in Wyoming that begins Thursday. December gold rose $3.70, or 0.3%, to settle at $1,294.70 an ounce after losing roughly 0.4% on Tuesday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

The Securities and Exchange Commission said on Wednesday that it had dismissed all charges against Javier Martin-Artajo and Julien G. Grout, two of the traders accused in the loss of more than $6 billion by J.P. Morgan in the London “Whale” case. The dismissal follows a request on July 24 by the U.S. Department of Justice to a judge to dismiss the criminal charges against the two former J.P. Morgan derivatives traders. In the criminal case, prosecutors said they no longer believed testimony from Bruno Iksil, the trader nicknamed “The Whale”, could be relied upon to prosecute “based on a review of recent statements and writings made by Iksil” that were critical of J.P. Morgan CEO Jamie Dimon.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News