Stocks close mostly lower, pushing pause on recent rally

Friday, December 4, 2020, Vol. 44, No. 49

Stocks are closing mostly lower on Wall Street Monday, taking a pause from their recent rally.

The S&P 500 lost 0.2%. Companies that would benefit most from a reopening economy, like banks and industrial stocks, took some of the sharper losses.

Technology stocks, meanwhile, bucked the downward trend and rose, pushing the Nasdaq to another record high.

It's a flip of the market's recent momentum and a callback to how it was trading earlier this year, before enthusiasm burst higher that one or more COVID-19 vaccines will get the global economy closer to normal next year.

Treasury yields fell.