US STOCKS-S&P 500, Dow slip from record highs ahead of earnings, inflation data – Investing.com India

US STOCKS-S&P 500, Dow slip from record highs ahead of earnings, inflation data – Investing.com India

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)* Tesla rises as Canaccord Genuity upgrades stock* Alibaba (NYSE:) shrugs off $2.75 bln antitrust fine, shares jump* Big bank earnings to kick off from Wednesday* Indexes down: Dow 0.09%, S&P 0.11%, 0.54% (Adds comment, details; updates prices)By Shivani KumaresanApril 12 (Reuters) - The S&P 500 and the Dow Jones indexes retreated from record levels on Monday, as investors geared up for the start of the corporate reporting season and a key inflation report later this week.A pullback in the benchmark 10-year bond yield from 14-month highs in April eased worries about higher borrowing costs, helping richly valued technology stocks gain ground and drive the S&P 500 and the Dow to record levels."We are seeing a little bit of a reversal from last week where the tech sector was strong, the financials and energy were weak. Today we see the opposite, so it is profit taking," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.Among the 11 major S&P 500 sectors, technology and communication services shares were the top decliners,