The Dow industrials and S&P 500 retreated slightly from all-time highs in quiet trading Tuesday, as a renewed slide in oil prices dragged down energy shares.
Shoppers among pedestrians in New York last week. A surge in consumer spending helped push the nation's economic growth rate to 3.9% last quarter.
The last time that U.S. oil drillers got caught up in a price war orchestrated by Saudi Arabia, it ended badly for the Americans. In 1986, the Saudis opened the spigot and sparked a four-month, 67 percent plunge that left oil just above $10 a barrel.
U.S. consumer confidence fell in November to its lowest level since June as optimism waned in the short-term outlook for business conditions and jobs, according to a private sector report released on Tuesday.
High-end jeweler Tiffany & Co reported lower-than-expected third-quarter sales, but continued its recent strong showing as shares rose 2.5% to close at $107.60.