U.S. stocks ticked lower at the start of Tuesday's trade a day after a rally in shares of technology companies drove the Nasdaq Composite to another record close. The S&P 500 SPX, +0.14% was down 7 points, or 0.2%, to 3,288. The Dow Jones Industrial Average DJIA, +0.08% shed 41 points, or 0.2%, to 26,623. The Nasdaq Composite COMP, +0.30% fell 25 points, or 0.2%, to 10,877.
Investors eyed another round of earnings along with negotiations between Democrats and Republicans around a new coronavirus relief package. Without additional stimulus funds, the U.S. recovery could suffer setbacks, according to analysts. Ralph Lauren Inc. RL, -6.82% stock fell 6.2% on Tuesday after the luxury lifestyle brand reported fiscal first-quarter revenue that missed expectations.
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