Market Rally Stalls

The Dow Jones Industrial Average slipped for a second day Tuesday as a recent rally on Wall Street lost steam.

The 30-stock index swooned 129.27 points at 36,07517.

The S&P 500 dipped 3.05 points to 4,566.73.

The NASDAQ gained 36.87 points to 14,222.36.

GitLab popped 13% after the open-source software development platform beat quarterly financial expectations and issued strong guidance for the current quarter. Nio climbed more than 4% after the Chinese electric vehicle maker reported narrowing losses in the third quarter.

Tuesday’s moves follow Monday’s losing session, which called into question whether the market had run up too far too fast. Monday’s pullback came on the heels of five consecutive positive weeks for the three major averages.

Despite recent performance, the three indexes are still up on the quarter and year. That underscores the strength of the market’s rally leading up to recent moves.

Prices for the 10-year Treasury shot higher, dropping yields to 4.18% from Monday’s 4.26%. Treasury prices and yields move in opposite directions.

Oil prices recovered 46 cents to $73.50 U.S. a barrel.

Gold prices lost $10.80 to $2,031.40.