By Victor Reklaitis and Sara Sjolin, MarketWatch
Monthly car sales are among Tuesday's highlights
NEW YORK (MarketWatch) -- U.S. stocks pulled back Tuesday,
catching their breath a day after the Nasdaq settled above the
psychologically significant 5,000 level and other benchmarks closed
at records.
The S&P 500 (SPX) dipped by 9 points, or 0.4%, to 2,108,
while the Dow Jones Industrial Average (DJI) lost 63 points, or
0.3%, to 18,226. The S&P and Dow on Monday both scored all-time
closing highs.
The Nasdaq Composite (RIXF) fell by 24 points, or 0.5%, to
4,984. The tech-heavy benchmark on Monday closed at 5,008.10 on
Monday, only 0.8% short of its record close of 5,048.62 hit on
March 10, 2000. That was also its first finish above 5,000 since
the Internet stock bubble's bursting 15 years ago.
"Stock markets have dropped back a bit today in normal backing
and filling after yesterday's rally to a new all-time high for the
Dow and the NASDAQ Composite reaching 5,000 for the first time in
15 years," said Colin Cieszynski, chief market strategist at CMC
Markets, in a note Tuesday.
Check out: 7 charts showing how the Nasdaq's changed since the
tech crash 15 years ago
(http://www.marketwatch.com/story/7-ways-the-nasdaqs-changed-since-the-tech-crash-2015-02-27)
Notable individual movers:AutoZone Inc.(AZO) and Best Buy
Co.(BBY) were among the biggest gainers in the S&P 500 after
their upbeat earnings reports.
Mylan NV(MYL) and Ford Motor Co. (F) were among the S&P's
biggest decliners. Mylan late Monday delivered a quarterly report
that roughly matched Wall Street's forecasts, while Ford reported
that its February U.S. vehicle sales fell 1.9% from a year ago
(http://www.marketwatch.com/story/ford-motors-stock-falls-after-february-us-sales-decline-2015-03-03).
Shares of McDermott International Inc.(MDR) soared after the
oilfield-engineering company late Monday posted a surprise profit
for the fourth quarter
(http://www.marketwatch.com/story/mcdermott-shares-jump-on-surprise-earnings-2015-03-02).
Read more about Tuesday's jumpiest stocks in Movers &
Shakers
(http://www.marketwatch.com/story/best-buy-autozone-kate-spade-earnings-in-focus-2015-03-02)
Tuesday's economic news: No top-tier data releases are on tap
Tuesday, but investors will be taking in monthly auto-sales figures
and a speech by Federal Reserve Chairwoman Janet Yellen.
Economists polled by MarketWatch expect total sales to have
climbed to 16.7 million in February, up from 16.6 million in
January. Yellen is set to deliver a speech on bank regulation and
supervision in New York City at 8:15 p.m. Eastern.
Other markets:European stock markets slipped
(http://www.marketwatch.com/storyno-meta-for-guid), while Asian
stocks closed mixed
(http://www.marketwatch.com/storyno-meta-for-guid), with China's
Shanghai Composite Index sliding 2.2%.
Crude-oil futures (CLJ5) were little changed and traded near $50
a barrel
(http://www.marketwatch.com/story/oil-ticks-higher-but-stays-volatile-2015-03-03).
Gold rose (http://www.marketwatch.com/storyno-meta-for-guid), and
the dollar (DXY) dipped against major rivals.
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