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 November 8, 2018 - 1:06 PM EST
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Stocks Pause after Post-Election Rally

Stocks Pause after Post-Election Rally

Stocks were little changed on Thursday following big gains in the previous session as investors focused on the latest monetary policy decision from the Federal Reserve.

The Dow Jones Industrials regained 35.63 points to 26,215.93, as Walgreens shares outperformed.

The S&P 500 sagged 4.88 points to 2,809.01, led lower by the communications services sector.

The NASDAQ dipped 31.51 points to 7,539.24, as Qualcomm shares fell sharply.

Qualcomm shares fell more than 6.5% after the company issued weaker-than-expected revenue guidance for fiscal first quarter 2019. The company cited lower Apple legacy shipments and lower demand out of China.

The Fed is expected to keep rates unchanged, but investors will look for clues about the central bank's futures moves on monetary policy. The Fed has hiked rates three times this year and is forecast to raise them once more before year-end.

Thursday's moves come after the major stock indexes posted sharp gains following the U.S. midterm election. The S&P 500 and Dow both rose more than 2% on Wednesday, notching their biggest post-midterm elections gains since 1982.

Prices for the benchmark for the 10-year U.S. Treasury sagged, raising yields back to Wednesday's 3.23%. Treasury prices and yields move in opposite directions.

Oil prices lost 82 cents to $60.85 U.S. a barrel.

Gold prices subtracted $4.60 an ounce to $1,224.10 U.S.


Source: Livemoney (November 8, 2018 - 1:06 PM EST)