U.S. stocks closed lower Tuesday in a holiday-shortened week for Thanksgiving, taking a breather from a powerfully November rally for stocks that lifted both the S&P 500 and Nasdaq Composite quickly out of correction territory. The Dow Jones Industrial Average shed about 62 points, or 0.2%, ending near 35,088, according to preliminary data from FactSet. The S&P 500 index shed 0.2% and the Nasdaq Composite Index closed 0.6% lower. Shares of airlines were under pressure Tuesday, despite expectations for a record holiday travel season, with the U.S. Global Jets ETF falling 1.7%, a day after it finished at a six-week high. Minutes of the Federal Reserve’s early November meeting were released Tuesday, reflecting the worries of most Fed officials about inflation reaccelerating. U.S. Treasury yields were largely unchanged Tuesday, with the 10-year Treasury rate down less than a point at 4.417%, but almost 60 basis points off its October peak, according to Dow Jones Market Data. The S&P 500 has now been higher for five of the past six sessions.
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