US stocks close modestly lower in up and down trading

Major US stock indices are closing lower day after both the S&P and the Dow industrial average closed at record levels.

The final numbers are showing:

• Dow industrial average -57.92.2 or -0.14% at 42454.18
• S&P index -11.99 points or -0.21% at 5780.05.
• NASDAQ index -9.57 points or -0.05% at 18282.05.

The small-cap Russell 2000 fell -12.16 points or -0.55% at 2188.41

The US CPI data was higher than expectations. Tomorrow, the PPI data will be released.

The initial jobless claims meanwhile were higher than expectations (weaker employment). However, there could have been some imports from things like the strike and weather. I would hold off on judgment for another week or two.

This article was written by Greg Michalowski at www.forexlive.com.