Stocks were little changed Tuesday as a rally to record levels took a pause.
The S&P 500 traded just below the flatline, while the Nasdaq Composite slipped 0.3%. The Dow Jones Industrial Average rose 68 points, or 0.2%.
Donald Trump Jr. is joining the board of PSQ Holdings Inc., the owner of online marketplace PublicSquare, according to people with knowledge of the matter. PSQ Holdings rocketed 140% in morning trading.
While the S&P 500 and technology-heavy Nasdaq Composite closed at records on Monday after hitting fresh intraday highs, the Dow ended more than 100 points lower, or about 0.3%. That is despite the blue-chip index at one point topping the closely watched 45,000 level during the day.
Investors awaited the October job openings report on Tuesday. It is the first in a salvo of data releases expected this week that can provide insight into the strength of the labor market. The main event will be Friday’s November payrolls report.
The data arrives ahead of the Federal Reserve’s policy meeting on Dec. 17-18. Fed funds futures are currently pricing in a nearly 73% probability that the central bank lowers interest rates during its policy gathering, according to CME’s FedWatch Tool.
“Labor is very important,” said Sam Stovall, chief investment strategist at CFRA Research. But “we should not see anything that would upend investors’ expectations that the Fed will cut rates again when they meet in December.”
Traders will also monitor Tuesday speeches from Fed Governor Adriana Kugler and Chicago Fed President Austan Goolsbee slated for the afternoon.
On the earnings front, investors will follow releases from Salesforce and Okta due after the bell.
