U.S. stocks edged lower on Tuesday, with major indexes pulling back from record levels as the recent rally lost steam, and the trend of modest moves and low volume continued heading into the final trading day of the year.
Despite the modest move lower, the day's losses were broad, with 8 of the 10 primary S&P 500 sectors in the red. Utilities — 2014's best sector performer -— led the decline with a drop of 1.7 percent. Financials and materials managed to move just above the unchanged mark.
Equities have been trending to the upside recently, buoyed by strong economic data and the U.S. Federal Reserve's commitment to be "patient" about raising interest rates. After the S&P 500 gained nearly 6 percent over the prior eight sessions, it notched its 53rd record close of the year on Monday, while the Dow just narrowly extending its streak of positive sessions to eight.
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