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NEW YORK (Reuters) - Wall Street lost ground, pulling back from the prior session’s record closing highs and Treasury yields edged lower on Tuesday as investors trained their focus on the approaching earnings season and the Federal Reserve’s economic outlook.
FILE PHOTO: A Wall Street sign outside the New York Stock Exchange in New York City, New York, U.S., October 2, 2020. REUTERS/Carlo Allegri/File Photo
All three major U.S. stock indexes closed in the red, led by the blue-chip Dow, which notched an all-time closing high on Monday.
“It’s a normal follow-on to a strong day,” said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. “The market is catching its breath from the job number and a strong day like yesterday, which reflected a high in the market.”