The Dow Jones Industrials index fell from peak levels by 15.9 points to 41,606.18
The much broader index eked up 1.49 points to 5,634.58, after touching an all-time high.
The NASDAQ recovered 35.93 points to 17,628.06, down from its highs of the day.
The fresh records for the S&P 500 and the Dow come during a historically tough period for the market. September has been the worst month for the benchmark over the past 10 years, averaging a 1.3% monthly loss.
Intel shares jumped 2.7% after the company said it plans to make its foundry business a subsidiary. The Biden administration also awarded the company up to $3 billion in funding through the CHIPS Act.
The latest retail sales data indicated solid consumer health. Retail sales rose 0.1% in August versus economists’ estimates for a 0.2% decline, according to Dow Jones. Excluding autos, the number also came in at a 0.1% increase, which slightly missed the 0.2% consensus forecast.
While a 50-basis-point cut isn’t out of the question, the chief global strategist thinks that the Fed should take a more cautious approach to cutting and ease rates by 25 basis points. She is forecasting additional 25-basis-point cuts in November and December.
Prices for the 10-year Treasury sagged, lifting yields to 3.65% from Monday’s 3.62%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.19 to $71.28 U.S. a barrel.
Gold prices swooned $13.60 to $2,595.30.