Stock market today: Stocks edge lower on Wall Street, ending a 3-week winning streak for the S&P 500 [Los Angeles Times (CA)]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Los Angeles Times
A flurry of selling late in the day left the benchmark index 0.4% lower and in the red for the week. The Nasdaq composite fell 0.7%, while the Dow Jones Industrial Average ended 0.1% lower. Despite the downbeat finish, the S&P 500 and the Nasdaq remain near their all-time highs. A pullback in big technology stocks, which have been big winners in the market's record-breaking runup, weighed on the market. Apple fell 1.6%, Microsoft lost 1.3% and Meta Platforms ended 3% lower. The late-afternoon burst of selling may reflect traders taking profits, with the market near all-time highs, or rebalancing their portfolios as the second quarter comes to a close, said Ross Mayfield, investment strategy analyst at Baird. “It wouldn't surprise me at all if there was some profit-taking today, especially out of the names that have really run up,” Mayfield said. “That could be why we're seeing a little bit of additional weakness from big tech versus the rest of the market.” The market heade
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