landsberg bennettStocks finished lower Thursday. The Dow lost 27 points to 25,338, ending its three-day winning streak. The S&P 500 slipped 5 points to 2,737 while the Nasdaq Composite declined 18 points to 7,273.

The major averages recovered from early session lows and finished little changed as investors await further trade updates. A report from the Wall Street Journal revealed the U.S. and China have agreed to suspend additional tariffs as both sides work to secure a new trade pact. On the data front, Core Personal Consumption Expenditure Price Index (the Fed’s preferred gauge of inflation) climbed 1.8% year-over-year in October, the slowest rate in eight months. Additional reports showed personal income and personal spending both advanced more than expected last month. An update on the housing market revealed pending home sales fell for the tenth consecutive month in October.

The Tech sector weighed on the major averages as Intel fell 2.4% to $47.70 and IBM declined 1.2% to $121.48. The Financials and Consumer Discretionary groups also underperformed. Healthcare stocks outperformed as shares of Pfizer climbed 1.4% to $45.51. Meanwhile, Energy shares rebounded from recent weakness as NYMEX WTI crude added 2.3% to $51.44/barrel.

Breadth was negative on issues by 8:7 on the NYSE and 11:9 on the Nasdaq. Composite NYSE volume totaled more than 3.5 billion shares.

Treasuries were stronger as the yield on the 10-year note slipped four basis points to 3.02%, after dipping below 3% in overnight trading for the first time since September. In commodities, COMEX gold was essentially unchanged at $1223.80/ounce despite a weaker dollar.