Stocks posts mixed results, as investors took a breather following the rally that sent the three main market indexes to record highs in yesterday.
"You always get a little vertigo at all-time highs and you're getting a little bit of that today," said Art Hogan, chief market strategist at National Securities.
Overnight reports indicated that the U.S. is considering removing the 15% tariff rate that went into effect in September and perhaps could delay the tariffs in place for December, although China reiterated it would want the U.S. to be firmer in its commitments to remove all retaliatory tariffs imposed since last year.
Energy (+0.5%) was today's S&P sector leader as December crude oil climbed 1% to $57.24/bbl, while financials (+0.4%) also enjoyed relative strength as U.S. Treasury prices continued to retreat, which sent yields higher in a curve-steepening trade as the two-year yield rose 4 bps to 1.63% and the 10-year yield jumped 8 bps to 1.87%.
On the flip side, the defensive-oriented real estate (-1.8%), utilities (-1%) and health care (-0.9%) sectors ended with sizable losses.