Stocks drifted to a mixed finish after flirting with record highs.
The S&P 500 fell 0.3% Tuesday after briefly rising above its all-time high, which was set a couple weeks ago. The Dow Jones Industrial Average added 0.1% to its own record, and the Nasdaq composite fell 0.6%.
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%, to 6,941.81.
The Dow Jones Industrial Average rose 52.27 points, or 0.1%, to 50,188.14.
The Nasdaq composite fell 136.20 points, or 0.6%, to 23,102.47.
The Russell 2000 index of smaller companies fell 9.28 points, or 0.3%, to 2,679.77.