U.S. stock indexes remain stuck

Associated Press

NEW YORK — The stock market hasn’t been this boring in years.

The Standard & Poor’s 500 remained at a near standstill Wednesday, the ninth day in a row that it has moved by less than 0.4 percent, up or down. That’s its longest streak of listlessness since the summer of 2013. Other indexes were mixed.

The S&P 500 rose 4 points, or 0.2 percent, to 2,271.89. The Dow Jones industrial average slipped 22.05 points, or 0.1 percent, to 19,804.72. The Nasdaq composite index added 16.93, or 0.3 percent, to 5,555.65. Slightly more stocks rose on the New York Stock Exchange than fell.

Stocks have been in a wait-and-see period in recent weeks following their torrid run since Election Day. The S&P 500 is up 6.2 percent since Donald Trump’s surprise victory of the White House, driven higher by expectations for lower corporate taxes and less regulation. Mr. Trump will take the oath of office on Friday, and investors are waiting to see how much of his campaigntrail rhetoric will become government policy.

“It’s natural after such a remarkable run postelection to have a bit of a flat, quiet period as investors wait for some more tangibles,” said Katie Nixon, chief investment officer at Northern Trust Wealth Management. “We know directionally where Donald Trump wants to go, and with a Republican Congress he’s got a higher probability of success than otherwise, but we don’t have the details.”

One notable area of weakness in the stock market was retail. This past holiday shopping season was weaker than many traditional retailers were expecting, and Target became the latest to cut its forecast for fourth-quarter sales.