(For a Reuters live blog on U.S., UK and European stock
markets, click or type LIVE/ in a news window.)
*
Tesla slips after its China-made EV sales drop in Nov
*
Job openings rise to 7.744 mln in Oct, beating estimates
*
South Korean firms fall after president declares martial
law
*
Indexes: Dow down 0.4%, S&P 500 off 0.1%, Nasdaq up 0.1%
(Updates with mid-session trading)
By Shashwat Chauhan and Purvi Agarwal
Dec 3 (Reuters) - Wall Street's main indexes were
subdued in volatile trading on Tuesday after the S&P 500 and the
Nasdaq notched record high levels in the previous session, with
focus on a crucial jobs report later this week and commentary
from Federal Reserve officials.
The hotly anticipated monthly payrolls figures on Friday, a
crucial metric in gauging the Fed's interest rate trajectory,
are on top of investors' radar.
A November reading of private payrolls is also due on
Wednesday.
Meanwhile, a Labor Department report showed U.S. job
openings increased moderately in October while layoffs declined,
suggesting the labor market continued to slow in an orderly
fashion.
At 11:36 a.m. ET, the Dow Jones Industrial Average
fell 169.17 points, or 0.37%, to 44,615.46, the S&P 500
lost 6.98 points, or 0.11%, to 6,040.22 and the Nasdaq Composite
gained 22.13 points, or 0.12%, to 19,427.37, briefly
hitting an all-time high.
Seven of the 11 major S&P sub-sectors were trading
lower, with industrials' 0.9% fall leading losses.
On the docket for Tuesday, comments from Chicago Fed
President Austan Goolsbee and Fed Board Governor Adriana Kugler
would be parsed through.
Fed Governor Christopher Waller said on Monday he is
inclined "at present" to support another interest rate cut later
this month, while New York Fed President John Williams could not
yet say what the central bank's next move will be.
The Nasdaq and the S&P 500 hit record closing highs in the
last session, as the tech rally spilled into December after U.S.
equities' stellar November performance.
"A lot of people are saying, look, don't fight the trend.
There's a lot of momentum and people are looking for reasons to
be optimistic," said Patrick Kaser, portfolio manager at
Brandywine Global.
"The flip side of that is at some point everybody's
expecting good things and evaluations are not supportive of
anything other than this good scenario, so there will come a
time when the good news starts to mean too much good news."
Former U.S. President Donald Trump recaptured the White
House in last month's election and his Republican Party swept
both houses of Congress, boosting stocks in November.
Analysts have cited Trump's potential plans for tax cuts and
deregulation as a positive for stocks, though tariffs could be a
negative on concerns of fresh inflationary pressures and a
global trade war.
U.S.-listed shares of South Korean companies lost ground
with iShares MSCI South Korea ETF down 3%, after
President Yoon Suk Yeol declared martial law in the country.
Tesla slipped 1.5% after data showed the
automaker's sales of China-made electric vehicles fell 4.3%
year-on-year to 78,856 in November.
Zscaler ( ZS ) dropped 5.7% after analysts noted that the
cybersecurity firm's second-quarter revenue forecast failed to
impress.
U.S. Steel shed 7.9% after Trump reiterated his
opposition to Nippon Steel's ( NISTF ) planned $15 billion the
purchase of the company.
Declining issues outnumbered advancers by a 1.62-to-1 ratio
on the NYSE and by a 1.89-to-1 ratio on the Nasdaq.
The S&P 500 posted 20 new 52-week highs and two new
lows, while the Nasdaq Composite recorded 82 new highs and 68
new lows.