Dow industrials retreat as investors kick off trade following long holiday weekend

U.S. stock benchmarks drifted lower at the open on Tuesday, with investors finding few reasons to keep pushing shares higher following a six-session rally that gave indexes their biggest one-week percentage gain in years. The Dow Jones Industrial Average was off 90 points, or 0.3%, at 25,142, the S&P 500 index was off 0.2% at 2,727. The Nasdaq Composite Index , meanwhile, was off 0.2% at 7,227. Wall Street investors are watching a rising dollar and climbing bond yields, both of which could make equities less attractive at current levels, even as macroeconomic conditions and corporate earnings are still seen as strong. The dollar, as measured by the U.S. ICE Dollar Index was up 0.5% at 89.57, while the 10-year Treasury note was at 2.90%. In corporate news, Rite Aid surged after privately held grocer Albertsons Cos. said it would buy the rest of the drugstore chain that Walgreens Boots Alliance Inc. isn’t buying.

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From:: Stock Market News

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