Stock market today: Wall Street edges back from its records

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U.S. stocks are edging back from their records ahead of a couple reports that could show how well the economy is holding up.

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The S&P 500 was down 0.5% in early trading a day after setting an all-time high for the 43rd time this year. The Dow Jones Industrial Average was down 245 points, or 0.6%, after coming off its own record. The Nasdaq composite was 0.5% lower, as of 9:35 a.m. Eastern time.. Inflation among the 20 countries that use the euro currency came in below 2% in September for the first time in more than three years. That could give the European Central Bank leeway to cut interest rates more quickly.

Later on Tuesday, the U.S. government will offer an update on how many job openings U.S. employers were advertising at the end of August. Economists are expecting a similar number to July’s 7.7 million. In the bond market, the yield on the 10-year Treasury eased to 3.70% from 3.79% late Monday. Yields fell even more for bonds in Europe following the inflation data there.

 

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