Stocks slipped Tuesday, taking a breather following a major rally that has taken U.S. benchmarks to record levels.
The S&P 500 slid 0.1%, while the Nasdaq Composite slipped slightly below the flatline. The Dow Jones Industrial Average fell 65 points, or 0.2%.
Both the S&P 500 and Nasdaq hit new record highs on Monday, adding to their strong postelection gains. Since the Nov. 5 vote, the S&P 500 has climbed 4.6%, and the Nasdaq has rallied 5.2%. The Dow is up 6% since then, and is trading near the key 45,000 level.
Economic data released on Tuesday morning showed that job openings were higher in October compared to September. Job openings hit a total of 7.74 million last month, topping the Dow Jones estimate of 7.5 million.
This was the first in a salvo of data releases expected this week that can provide insight into the strength of the labor market. The main event will be Friday's November payrolls report.
The data arrives ahead of the Federal Reserve's policy meeting on Dec. 17-18. Fed funds futures are currently pricing in a nearly 73% probability that the central bank lowers interest rates during its policy gathering, according to CME's FedWatch Tool.
Source : CNBC
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