Wall Street Today: Nasdaq, S&P 500 and DJIA All Pull Back as Market's Post-Fed Rally Falters

The Nasdaq Composite, S&P 500 and Dow industrials all fell slightly Thursday as Wall Street resumed its recent downtrend, with a one-day rebound that followed Wednesday's Federal Reserve interest-rate meeting failing to extend to a second session.

Stocks fell after generally well-received moves Wednesday by the Fed's Federal Open Market Committee – which sent the key indexes up some 1% a day earlier – failed to give equities more than a single-day boost.

The FOMC announced on Wednesday that it would leave its benchmark interest rate unchanged, but released a "dot-plot" forecast showing that members expect 50 basis points of cuts later this year.

Wall Street generally likes rate cuts because lower interest levels make bonds and money markets less attractive, historically meaning more investor money goes into stocks.

However, the central bank also increased its forecast for U.S. core PCE inflation to hit 2.8% by year's end, and lowered its forecast for U.S. economic growth to a 1.7% annual rate by December. Markets didn't appear to like the projection of higher inflation and slower growth, often called "stagflation."

Still the prospect for lower U.S. interest rates later this year helped boost gold to a record high, as lower rates tend to weaken the U.S. dollar and raise inflation risks.

Thursday's significant percentage gainers among individual stocks included:

Conversely, major percentage decliners included: