: Dow Jones, S&P 500 end lower, hitting pause on November rally

U.S. stocks closed lower on Monday, taking a breather from a powerful rally sweeping through the stock market in November. The Dow Jones Industrial Average DJIA shed about 56 points, or 0.2%, to end near 35,333, according to preliminary FactSet data. The S&P 500 index SPX fell 0.2% and the Nasdaq Composite Index closed about 0.1% lower. U.S. stocks have staged a powerful rally this month, fueled by a sharp retreat in benchmark borrowing costs. The 10-year Treasury yield BX:TMUBMUSD10Y fell to 4.388% on Monday, the lowest in about two months, after briefly trading above 5% in October, according to Dow Jones Market Data. A major source of concern has been that higher borrowing costs might help the Federal Reserve tame inflation, but also derail the U.S. economy. With that in mind, investors will be keeping a close eye on economic data due this week, including the personal consumption expenditure index due on Thursday, a favored inflation gauge of Fed officials. The Dow was up 6.9% on the month through Monday, while the S&P 500 was 8.5% higher and the Nasdaq was on pace for a 10.8% monthly gain, according to FactSet.

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