Market Overview
U.S. stocks closed lower Wednesday as market momentum cooled following recent gains, with the S&P 500 declining 0.41% to 6,319.01 and the Nasdaq Composite dropping 0.09% to 21,149.31. The pullback comes as investors took profits after the market's strong start to the year, with trading volumes remaining relatively subdued amid a lack of major economic catalysts. The VIX volatility index held steady at 17.30, suggesting investor anxiety remains contained despite the session's modest declines. With earnings season winding down and key economic data still ahead, markets appear to be consolidating recent gains while awaiting fresh directional cues from Federal Reserve policy signals and upcoming inflation data.