U.S. stocks were slightly lower Tuesday, hovering near records as investors digested new inflation data.
The Dow Jones Industrials dumped 152.15 points, to start Tuesday trading at 36,280.07
The S&P 500 took 18.36 points from Monday's all-time high at 4,683.34.
The NASDAQ Composite lost 98.19 points to 15,884.17.
Shares of GE rallied roughly 6% after the industrial giant announced it will split into three public companies focusing on aviation, healthcare and energy. The stock led gains on the S&P 500.
NVIDIA shares rose about 3% after the company said it was joining forces with several self-driving sensor companies on safety systems that automakers will be able to deploy as soon as 2024. The semiconductor stock was among the S&P 500 and the NASDAQ Composite's top gainers.
On the downside, PayPal shares dropped more than 10% after the digital payments company missed on quarterly revenue expectations and issued weaker-than-expected fourth-quarter and full-year guidance. The stock was the biggest laggard on the S&P 500 and the NASDAQ.
Wholesale prices jumped 8.6% in October from a year ago, the hottest annual pace on record in nearly 11 years, the U.S. Labor Department said Tuesday. The October producer price index rose 0.6% month over month, in line with the Dow Jones consensus estimate. The reading measures the costs of final-demand manufactured goods.
Strong earnings results have also supported stocks in running to new highs. Through Tuesday morning, 459 companies in the S&P 500 have reported quarterly results, with 81% beating earnings estimates.
Prices for 10-year Treasurys strengthened, flattening yields to 1.45% from Monday's 1.50%. Treasury prices and yields move in opposite directions.
Oil prices added 64 cents to $82.57 U.S. a barrel.
Gold prices sagged $3.10 to $1,824.30 U.S. an ounce.