Stocks slip as postelection rally takes a breather
Stocks were little changed Tuesday as Wall Street took a breather from a postelection rally that brought the major U.S. benchmarks to all-time highs and shifted toward a focus on economic data this week.
The Dow Jones Industrial Average pulled back 137 points, or 0.3%. The S&P 500 ticked down 0.1%, and the Nasdaq Composite slipped 0.1%. Treasury yields climbed, with the benchmark 10-year adding about 7 basis points.
Artificial intelligence darling Nvidia gained more than 2%. Tesla, a postelection winner, gave back some of its recent gains, down 3%.
Tuesday’s action comes a day after the Dow closed above 44,000 for the first time. The S&P 500 also had its first close above 6,000. Investors remain optimistic following that Donald Trump’s return to the White House could bring both lower taxes and looser regulations, and ultimately serve as a boon to the broader market.
Source : CNBC
