Streaks in Peril

The S&P 500 slipped on Wednesday, struggling to extend its longest winning streak in about two years.

The Dow Jones Industrials plummeted 114.12 points to pause for lunch Wednesday at 34,038.48.

The much-broader index dumped 12.54 points to 4,365.72.

The NASDAQ faded 48.11 points to 13,591.75.

The S&P 500 is seeing its streak of positive sessions possibly snapped at seven, while the NASDAQ’s run of eight sessions was in danger.

These gains come after about 88% of S&P 500 companies have beaten earnings estimates this season, while slowing demand means that only 62% have also topped revenue expectations.

In other news, Rivian slipped nearly 2% even after posting better-than-expected results, while Robinhood sank 14% after posting significant declines in trading volumes. Warner Bros. Discovery sank 15% after posting a wider-than-expected loss, while Roblox popped 17% on strong results.

Earnings season continues after the bell with results from Walt Disney, Affirm Holdings and MGM Resorts.

Prices for the 10-year Treasury were higher, lowering yields to 4.53% from Tuesday’s 4.57%. Treasury prices and yields move in opposite directions.

Oil prices dipped $1.69 to $75.68 U.S. a barrel.

Gold prices sank 11 dollars to $1,962.50.

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