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MARKET SNAPSHOT: U.S. Stocks Slip After Hitting All-time Highs

U.S. stocks tested new session lows Monday, after grinding further into all-time-high territory, as Yahoo Inc.'s acquisition of Tumblr and other deal news dominated investor attention.The S&P 500 index (SPX) fell 3.79 points, or 0.2% to 1,663.78, after touching a new high of 1,672.85 earlier in the session. Energy posted the biggest gains of the index's 10 major industry groups with consumer staples the biggest laggard. The index traded as low as 1,663.51.Markets are following the general trend higher without much in the way of news, said Dan Greenhaus, chief global strategist at BTIG.While defensive stocks have been dominating the rally for most of the year, there's been new life in cyclical stocks recently, propelling the market into the "free skies" of record highs."Energy's been a laggard, but what's you've seen in May is a shift into cyclicals driving the market higher," Greenhaus said. The energy sector, which was up about 4% earlier, rose 1% Monday, with the next highest gaining...

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  1. MARKET SNAPSHOT: U.S. Stocks Grind Higher To All-time Highs

    U.S. stocks traded slightly higher, grinding further into all-time-high territory after a slow start Monday with Yahoo Inc.'s acquisition of Tumblr and other deal ne...

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  4. MARKET SNAPSHOT: U.S. Stocks Halt Record Run On Fed Talk

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