Stocks broadly fell on Wall Street in early trading Thursday as investors weighed the latest economic reports showing that unemployment claims are falling but labor costs are rising.
AMC may sell up to 11.6 million of its shares with a trading phenomenon pushing stock in the movie theater chain up almost 3,000% this year, and 140% just this
Stocks mostly fell on Wall Street in afternoon trading Thursday as investors weighed the latest economic reports showing that unemployment claims are falling but labor costs are rising.
By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers
Technology companies helped drag stocks lower on Wall Street Thursday, knocking the S&P 500 into the red for the week.
The benchmark S&P 500 index dropped 0.4% and is now on track for a 0.3% weekly loss. Technology companies, whose pricey valuations make them more sensitive to inflation fears, were the biggest weight on the market. Microsoft fell 0.6% and Apple lost 1.2%.
Retailers, hotel operators and a variety of other companies that rely on direct consumer spending also posted some of the biggest declines, as did communications companies. Etsy slid 5.4%, Tesla dropped 5.3%, Wynn Resorts fell 4.1% and Facebook lost 0.9%. Banks and health care companies rose.
Wall Street wrapped up another wobbly day of trading Wednesday with modest gains for the major stock indexes, as energy and technology companies kept losses elsewhere in the market in