Stocks were little changed Tuesday as Wall Street's recent rally has stalled in recent days. The Dow Jones Industrial Average fell nearly 80 points, while the S&P 500 Index closed at a negative flatline and Nasdaq Composite rose more than 0.3%.
Here's how the market settled on Tuesday:
S&P 500 Index (SPY ): -0.06% or -2.60 points to 4,567.18
Dow Jones Industrial Average (DIA ): -0.22% or -79.72 points to 36,124.72
Nasdaq Composite Index (QQQ ): +0.31% or +44.42 points to 14,229.91
Tuesday's weakness follows Monday's pullback as investors reassess the market's strength heading towards the new year after five straight weeks of gains for all three Wall Street benchmarks.
In economic news, job openings in October fell to its lowest level since 2021, according to Labor Department's report on Tuesday, with the Job Openings and Labor Turnover Survey (JOLTS) showing a less-than-expected 8.7 million openings.
On the earnings front, Nio (NIO ) shares rose higher after the Chinese electric vehicle maker reported narrower-than-expected losses in its third-quarter. CEO William Li also reiterated the company's efforts to become more efficient, stating that Nio has "identified opportunities to optimize our organization, reduce costs and enhance efficiency."
GitLab (GTLB ) shares popped 13% after the software development platform reported stronger-than-expected quarterly results and issued positive forward guidance for its fourth-quarter. For its current quarter, GitLab expects adjusted earnings of $0.08 to $0.09 per share on $157 million to $158 million in revenue.
In single-stock news, Take-Two Interactive (TTWO ) shares came under pressure on Tuesday after its subsidiary Rockstar Games published the 'Grand Theft Auto VI' trailer early after it was leaked on X, formally known as Twitter. The video game publisher set the highly anticipated game title's launch for 2025, releasing for Sony PlayStation 5 (SONY ) and Microsoft Xbox Series X and Series S (MSFT ) consoles, Take-Two said in a statement.
CVS Health (CVS ) announced Tuesday it will update how it prices prescription drugs in effort to change the traditional prescription drug pricing system. The pharmacy giant will also end the use of its current model that calculates how pharmacies are reimbursed by drug companies and how much patients pay for their medications, launching a new "sustainable and transparent" model called CVS CostVantage on Jan. 1, 2025, executives said during the company's investor day.
Ericsson (ERIC ) shares rose after AT&T (T ) announced partnership plans to deploy an open radio access network (Open RAN) in the United States. AT&T expects to spend as much as $14 billion over a five-year contract with Ericsson, the company said, with Ericsson manufacturing 5G equipment for the project at its factory in Lewisville, Texas.
For Wednesday, investors will react to monthly job additions from ADP for November, alongside earnings reports from companies including Toll Brothers (TOL ).
