The S&P 500 and the Nasdaq rose in light trading ahead of the Thanksgiving holiday
Nordstrom tumbled 29% and Gap slid 24%, after the two retailers reported weak quarterly results and warned of supply chain problems ahead of the crucial U.S. holiday shopping season.
The so-called core PCE price index, the Federal Reserve's preferred inflation measure, also accelerated in October. Coronavirus infections broke records in parts of Europe on Wednesday, with investors worried the continent was again the epicenter of a pandemic that has prompted new curbs on movement. "Equities are under pressure from a combination of rising interest rates, more cautionary news on the earnings front, and also from COVID developments in Europe," said Greg Bassuk, chief executive at AXS Investments in Port Chester, New York.
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