The Dow Jones Industrial average was little changed on Wednesday morning as traders looked ahead to the Federal Reserve’s December interest rate decision.
The Dow was higher by about 38 points. On Tuesday, the Dow slipped 267.58 points, or 0.61%, for a nine-day losing streak, its longest since 1978. If the Dow were to fall for a 10th day on Wednesday, it would be its worst losing streak since an 11-day slide in 1974.
The S&P 500 was basically flat. The Nasdaq Composite was also flat.
Tesla was down 2.8% in morning trading after closing at another record high Tuesday, rising 3.6% to $479.86. The stock has gained 93% this year andhas risen more than 90% since Donald Trump was elected U.S. president on Nov. 5, with Wall Street seeing CEO Elon Musk’s relationship with Trump benefiting the electric-vehicle maker.
Nvidia, the leading maker of artificial-intelligence chips, rose 2.9% in morning trading after falling 1.2% on Tuesday. The stock fell to $130.39 on Tuesday andhas dropped about 15% from its intraday record high. The company announced Tuesday it was introducing a $249 version of its Jetson computer for artificial-intelligence applications, down from $499.
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