Stock market today: S&P 500, Dow back away from records as Fed cheer fizzles
The S&P 500 ( ^GSPC) fell roughly 0.2% after the benchmark index ended at an all-time high. The Dow Jones Industrial Average ( ^DJI) traded slightly lower on the heels of notching its own record close. Leading the way lower, contracts on the tech-heavy Nasdaq Composite ( ^IXIC) dropped 0.3%.
Richly valued US stock market may find limited benefit from rate cuts
As the Federal Reserve kicks off a long-awaited rate cutting cycle, some investors are wary that richly valued U.S. stocks may have already priced in the benefits of easier monetary policy, making it harder for markets to rise much further.
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Stocks looked set to tick lower on Friday, with S&P 500 and Dow futures pointing to both gauges edging away from the record levels they'd set in the previous trading session.
Warren Buffett has been raising cash probably because his Buffett Ratio (measured as the S&P 500’s price index to forward ...
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