Wall Street drifted to a lower close following a strong rally that had vaulted it to its highest level since the start of August. The S&P 500 fell 0.2% Tuesday, its third loss in the last 17 days. The Dow fell 62 points, and the Nasdaq composite gave back 0.6%. Lowe’s and Best Buy both sank despite reporting stronger profit for the latest quarter than expected. Each cited challenges ahead and cut their forecasts for results over the full year. Treasury yields were relatively steady following the release of the minutes from the Federal Reserve’s latest meeting.
The S&P 500 fell 9.19 points, or 0.2%, to 4,538.19.
The Dow Jones Industrial Average fell 62.75 points, or 0.2%, to 35,088.29.
The Nasdaq composite fell 84.55 points, or 0.6%, to 14,199.98.
The Russell 2000 index of smaller companies fell 23.82 points, or 1.3% to 1,783.26.
For the week:
The S&P 500 is up 24.17 points, or 0.5%.
The Dow is up 141.01 points, or 0.4%.
The Nasdaq is up 74.50 points, or 0.5%.
The Russell 2000 is down 14.50 points, or 0.8%.
For the year:
The S&P 500 is up 698.69 points, or 18.2%.
The Dow is up 1,941.04 points, or 5.9%.
The Nasdaq is up 3,733.50 points, or 35.7%.
The Russell 2000 is up 22.02 points, or 1.3%.