
The S&P 500 Index ($SPX) (SPY) Tuesday closed down -0.30%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.35%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.34%.
Stocks on Tuesday gave up early gains and posted moderate losses, with the Dow Jones Industrials falling to a 2-week low. Long liquidation and position squaring weighed on stocks ahead of Wednesday’s US Nov consumer price report. Also, some negative corporate news weighed on the overall market as Oracle closed down more than -6% after reporting Q2 adjusted revenue below consensus. Toll Brothers closed down more than -5% after forecasting weaker than expected Q1 adjusted home sales gross margin. In addition, higher T-note yields Tuesday undercut stocks.