{"id":53583,"date":"2025-09-24T17:07:42","date_gmt":"2025-09-24T21:07:42","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/wall-street-retreats-from-record-highs-amid-profit-taking-and-fed-caution\/53583\/"},"modified":"2025-09-24T17:07:42","modified_gmt":"2025-09-24T21:07:42","slug":"wall-street-retreats-from-record-highs-amid-profit-taking-and-fed-caution","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-retreats-from-record-highs-amid-profit-taking-and-fed-caution\/53583\/","title":{"rendered":"Wall Street Retreats from Record Highs Amid Profit-Taking and Fed Caution"},"content":{"rendered":"<p>U.S. stock markets closed lower on Wednesday, September 24, 2025, as investors engaged in profit-taking after a recent streak of record-setting highs for major indexes. The downturn was exacerbated by comments from Federal Reserve Chairman Jerome Powell, who expressed concerns about asset prices being &quot;fairly highly valued.&quot; All three major benchmarks ended the session in negative territory, signaling a cautious mood on Wall Street.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-retreats-from-record-highs-amid-profit-taking-and-fed-caution\/53583\/#Market_Performance_Recap\" >Market Performance Recap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-retreats-from-record-highs-amid-profit-taking-and-fed-caution\/53583\/#Major_Stock_News_and_Movers\" >Major Stock News and Movers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-retreats-from-record-highs-amid-profit-taking-and-fed-caution\/53583\/#Earnings_Announcements_After_Market_Close_September_23_2025\" >Earnings Announcements After Market Close (September 23, 2025)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-retreats-from-record-highs-amid-profit-taking-and-fed-caution\/53583\/#Upcoming_Market_Events\" >Upcoming Market Events<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-retreats-from-record-highs-amid-profit-taking-and-fed-caution\/53583\/#Economic_Data_Announcements\" >Economic Data Announcements:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-retreats-from-record-highs-amid-profit-taking-and-fed-caution\/53583\/#Federal_Reserve_Schedule\" >Federal Reserve Schedule:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-retreats-from-record-highs-amid-profit-taking-and-fed-caution\/53583\/#Upcoming_Earnings_Releases\" >Upcoming Earnings Releases:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-retreats-from-record-highs-amid-profit-taking-and-fed-caution\/53583\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Performance_Recap\"><\/span>Market Performance Recap<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (<a href=\"\/stock\/DJI\">DJI<\/a>) fell 0.2% to close at 46,292.78, though it had touched a new all-time intraday high of 46,714.27 earlier in the session. The <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> (<a href=\"\/stock\/SPX\">SPX<\/a>) declined 0.6% to finish at 6,656.92, also reaching a new intraday high of 6,699.52 before retreating. The tech-heavy Nasdaq Composite (<a href=\"\/stock\/IXIC\">IXIC<\/a>) experienced the steepest drop, tumbling 1% or 215.50 points to settle at 22,573.47. This marked a second consecutive day of declines for the major indexes following three days of record closing highs.<\/p>\n<p>The market&#39;s retreat was largely attributed to profit-taking and investor sentiment being dented by Fed Chair Powell&#39;s warnings regarding potentially overvalued risky equities. Trading volume was higher than the 20-session average, with 18.89 billion shares traded. Decliners outnumbered advancers on both the <a href=\"https:\/\/stockmarketwatch.com\/exchanges\/nyse\/today\" data-internallinksmanager029f6b8e52c=\"2\" title=\"NYSE Today\">NYSE<\/a> (1.12-to-1) and Nasdaq (1.61-to-1).<\/p>\n<p>Sector performance was mixed, with the Energy Select Sector SPDR (<a href=\"\/stock\/XLE\">XLE<\/a>) advancing 1.7%, making it a bright spot. Conversely, the Consumer Discretionary Select Sector SPDR (<a href=\"\/stock\/XLY\">XLY<\/a>) and the Technology Select Sector SPDR (<a href=\"\/stock\/XLK\">XLK<\/a>) both fell 0.9%, reflecting the broader tech sector&#39;s struggles. The CBOE Volatility Index (<a href=\"\/stock\/VIX\">VIX<\/a>), often referred to as the &quot;fear gauge,&quot; rose 3.4% to 16.64.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Major_Stock_News_and_Movers\"><\/span>Major Stock News and Movers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several individual stocks saw significant movements today. Among the notable decliners was Freeport-McMoRan (<a href=\"\/stock\/FCX\">FCX<\/a>), whose shares dropped more than 10% after the Phoenix-based miner lowered its fiscal third-quarter sales outlook for copper and <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a>. Micron Technology (<a href=\"\/stock\/MU\">MU<\/a>) also saw its stock fall 2.8%, despite reporting better-than-expected quarterly sales and a strong forecast in after-hours trading on Tuesday. This &quot;sell the news&quot; event highlights the high expectations placed on the memory-chip maker, which had already seen its stock surge nearly 97.7% year-to-date. Tech giants Oracle (<a href=\"\/stock\/ORCL\">ORCL<\/a>) and Nvidia (<a href=\"\/stock\/NVDA\">NVDA<\/a>) also closed lower for a second consecutive session, falling 1.7% and 0.8%, respectively.<\/p>\n<p>On the upside, U.S.-listed shares of Chinese firm Alibaba (<a href=\"\/stock\/BABA\">BABA<\/a>) soared 8% following its announcement of an increased budget for AI infrastructure and models. Marvell Technology (<a href=\"\/stock\/MRVL\">MRVL<\/a>) ended up more than 7%, leading the Nasdaq, while Intel (<a href=\"\/stock\/INTC\">INTC<\/a>) advanced over 6%. Intel&#39;s surge was partly attributed to the U.S. government taking a 10% stake and a $5 billion investment from Nvidia. Lithium Americas (<a href=\"\/stock\/LAC\">LAC<\/a>) experienced a significant jump of 87.6% to 98.3% amid reports that the U.S. government is considering taking an ownership stake in the Canadian company, which is developing a lithium project in Nevada with General Motors. In the energy sector, Xcel Energy (<a href=\"\/stock\/XEL\">XEL<\/a>), EQT (<a href=\"\/stock\/EQT\">EQT<\/a>), and Phillips 66 (<a href=\"\/stock\/PSX\">PSX<\/a>) were among the <a href=\"https:\/\/stockmarketwatch.com\/movers\/today\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Top Stocks\">top gainers<\/a>, rising more than 6%, 4%, and 3%, respectively.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Earnings_Announcements_After_Market_Close_September_23_2025\"><\/span>Earnings Announcements After Market Close (September 23, 2025)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several companies released their earnings reports after the market closed on Tuesday, September 23, 2025.<\/p>\n<p>Micron Technology (<a href=\"\/stock\/MU\">MU<\/a>) reported fiscal Q4 earnings of $3.03 per share, surpassing the Zacks consensus estimate of $2.86. Revenues of $11.32 billion also outperformed estimates, demonstrating strong growth driven by AI chips. Despite beating estimates, the stock saw a decline today, as mentioned above, likely due to high pre-earnings expectations.<\/p>\n<p>Worthington Enterprises Inc. (<a href=\"\/stock\/WOR\">WOR<\/a>) reported for the quarter ending August 31, 2025, with a consensus earnings per share forecast of $0.80, representing a 60% increase year-over-year.<\/p>\n<p>AutoZone Inc. (<a href=\"\/stock\/AZO\">AZO<\/a>) reported fourth-quarter fiscal 2025 adjusted earnings of $48.71 per share, missing the Zacks Consensus Estimate of $50.52. The automotive retailer&#39;s quarterly revenues of $6,242.73 million, however, beat the consensus estimate. The stock price of AutoZone plummeted 0.02% as a result.<\/p>\n<p>Other companies that reported after market close on September 23, 2025, included AAR (<a href=\"\/stock\/AIR\">AIR<\/a>), MillerKnoll (<a href=\"\/stock\/MLKN\">MLKN<\/a>), and Natural Alternatives International (<a href=\"\/stock\/NAII\">NAII<\/a>). Natural Alternatives International announced a fiscal 2025 Q4 adjusted loss of $1.21 per share.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Events\"><\/span>Upcoming Market Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors will be closely watching a series of economic data releases and Federal Reserve communications in the coming days and weeks.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Economic_Data_Announcements\"><\/span>Economic Data Announcements:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li><strong>Thursday, September 25:<\/strong> Key U.S. economic data includes the final Q2 GDP reading and durable goods orders.<\/li>\n<li><strong>Friday, September 26:<\/strong> The highly anticipated US Core PCE inflation data, the Federal Reserve&#39;s preferred inflation gauge, will be released. This is crucial as policymakers remain focused on labor market conditions and inflationary pressures for future rate adjustments. Also on Friday, preliminary Canadian GDP data will be released.<\/li>\n<li><strong>Next week:<\/strong> Upcoming data includes the S&amp;P\/Case-Shiller Home Price Index, Chicago PMI, and Consumer Confidence on Tuesday, September 30.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Federal_Reserve_Schedule\"><\/span>Federal Reserve Schedule:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The Federal Open Market Committee (FOMC) holds eight scheduled meetings per year. The most recent meeting was on September 16-17, 2025, where the Federal Reserve cut interest rates for the first time this year. The next confirmed FOMC meeting is scheduled for <strong>October 28-29, 2025<\/strong>, followed by another on <strong>December 9-10, 2025<\/strong>, which will include a Summary of Economic Projections (SEP). Fed Chair Powell&#39;s recent comments on asset valuations will likely keep investors attuned to any further remarks from central bank officials.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Upcoming_Earnings_Releases\"><\/span>Upcoming Earnings Releases:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The earnings season continues with several notable companies scheduled to report in the coming days:<\/p>\n<ul>\n<li><strong>Thursday, September 25:<\/strong> Costco Wholesale (<a href=\"\/stock\/COST\">COST<\/a>) is expected to report fiscal fourth-quarter earnings after the market closes. Accenture (<a href=\"\/stock\/ACN\">ACN<\/a>) is also scheduled to report.<\/li>\n<li><strong>Tuesday, September 30:<\/strong> NIKE (<a href=\"\/stock\/NKE\">NKE<\/a>) is among the companies expected to release earnings.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Wednesday&#39;s market action reflects a period of consolidation and caution after a robust rally. While the underlying economic narrative remains complex, with inflation cooling but still above target and moderating economic growth, investors are keenly observing the Federal Reserve&#39;s stance and upcoming economic indicators. The mixed bag of corporate earnings, coupled with sector-specific movements and geopolitical considerations, suggests that volatility may persist as the market navigates these crosscurrents. Investors will be closely monitoring the upcoming economic data and future Fed communications for clearer direction in the weeks ahead.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stock markets closed lower on Wednesday, September 24, 2025, as investors engaged in profit-taking after a recent streak of 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