How major US stock indexes fared Thursday, 7/27/2023

Wall Street closed lower, its big rally losing momentum despite fatter-than-expected profit reports from big companies and the latest signals of a resilient economy. The S&P 500 fell 0.6% Thursday after touching its highest level in nearly 16 months. The Nasdaq flipped from an early gain to a loss of 0.5%. The Dow lost 237 points, or 0.7%. Earlier in the day, it seemed to be on the verge of its 14th straight gain, which would tie a win-streak record set in 1897. Critics have been saying the market’s big recent rally has been too much, too fast.