Stocks' late stumble leaves S&P 500 just short of a record high

last week than forecast, though economists cautioned that the number may have been distorted by the Thanksgiving holiday.

The S&P 500 slipped 2.29 points to 3,666.72. The Dow Jones industrial average rose 85.73 points, or 0.3%, to 29,969.52. The Nasdaq composite advanced 27.82 points, or 0.2%, to 12,377.18. Small-company stocks made out better than the broader market. The Russell 2000 index climbed 10.67 points, or 0.6%, to 1,848.70.

“It’s pretty clear that investors are looking at some of those areas that would benefit from a more complete reopening,” said David Lefkowitz, head of Americas equities at UBS Global Wealth Management.Now that stock indexes are back at all-time highs, worries about the still-raging pandemic are making further big gains more difficult. Governments around the world are considering the approval of several coronavirus vaccines, and a U.S. rollout could begin this month if regulators approve.

Concerns about the potential economic fallout from more restrictions on businesses has intensified the pressure on Washington to deliver more aid. Still, Democrats and Republicans have been arguing for months without much progress.“Ideally we would get some kind of fiscal support sooner rather than later,” Lefkowitz said. “The big news is there’s more of a line of sight on the fact that the economy will likely get back to full strength.

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