Stocks drifted to a mixed finish after flirting with record highs.
The S&P 500 fell 0.3 percent Tuesday after briefly rising above its all-time high, which was set a couple weeks ago. The Dow Jones Industrial Average added 0.1 percent to its own record, and the Nasdaq composite fell 0.6 percent.
The action was stronger in the bond market, where Treasury yields sank following a discouraging report on how much money U.S. retailers made in December. That raised expectations that the Federal Reserve will cut interest rates later this year to boost the economy.
On Tuesday:
The S&P 500 fell 23.01 points, or 0.3 percent, to 6,941.81.
The Dow Jones Industrial Average rose 52.27 points, or 0.1 percent, to 50,188.14.
The Nasdaq composite fell 136.20 points, or 0.6 percent, to 23,102.47.
The Russell 2000 index of smaller companies fell 9.28 points, or 0.3 percent, to 2,679.77.
For the week:
The S&P 500 is up 9.51 points, or 0.1 percent.
The Dow is up 72.47 points, or 0.1 percent.
The Nasdaq is up 71.26 points, or 0.3 percent.
The Russell 2000 is up 9.43 points, or 0.4 percent.
For the year:
The S&P 500 is up 96.31 points, or 1.4 percent.
The Dow is up 2,124.85 points, or 4.4 percent.
The Nasdaq is down 139.52 points, or 0.6 percent.
The Russell 2000 is up 197.86 points, or 8 percent.
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