U.S. stock markets pulled back modestly from near record levels today as investors struggled to maintain the gaining mode as the USD extended the higher edge.
United States markets lost ground as traders and investors looked over a mixed bag of earnings from retailers. Health care stocks traded lower.
Shares of the retailers Gap, Abercrombie & Fitch and Williams-Sonoma dropped after the companies announced weak quarterly reports. The Dow Jones Industrial Average lost 35 points to 18,870, while the S&P 500 slipped 4.8 points to 2,188. The Nasdaq Composite Index fell 12.5 points to 5,322.
Earlier, the Nasdaq traded as high as 5,346.6, an intraday record. One of the key iPhone could move its production of the smartphone to the United States, according to the Nikkei Asian Review. “Apple asked both Foxconn and Pegatron, the two iPhone assemblers, in June to look into making iPhones in the U.S.,” the Nikkei Asian Review reported, citing a source.