U.S. Stocks Pull Back Off Record Highs As Crude Oil Prices Spike

U.S. stocks were mostly lower on Thursday after Wednesday's rally, with the major averages all finishing down and the Nasdaq and S&P 500 pulling back from record closing highs. The move appears to reflect modest profit-taking rather than a fundamental catalyst, so near-term market impact is limited.

Analysis

U.S. stocks were mostly lower on Thursday after Wednesday's rally, with the major averages all finishing down and the Nasdaq and S&P 500 pulling back from record closing highs. The move appears to reflect modest profit-taking rather than a fundamental catalyst, so near-term market impact is limited.