LIVE MARKETS-S&P 500, Nasdaq dip, but the Dow scores its seventh record close this year

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S&P 500, NASDAQ DIP, BUT THE DOW SCORES ITS SEVENTH RECORD CLOSE THIS YEAR

The S&P 500 .SPX and the Nasdaq .IXIC ended lower on Tuesday, while the Dow .DJI edged up to score its seventh record close so far this year as investors digested retail sales figures that kicked off a slew of economic datasets due to be released through the week.

U.S. retail sales were unexpectedly unchanged in December, putting consumer spending and the overall economy on a slower growth path heading into the new year. Economists polled by Reuters had expected a 0.4% increase.

The focus now turns to the delayed nonfarm payrolls data on Wednesday, followed by crucial inflation numbers on Friday that could influence expectations for the U.S. Federal Reserve's monetary policy trajectory.

The headline January nonfarm payroll number is forecast to be 70,000 vs. a prior read of 50,000. The unemployment rate is expected to be unchanged at 4.4%.

In any event, ahead of the payroll data, stocks struggled to hold gains. In the end, a majority of S&P 500 sectors ended lower with Communication Services .SPLRCL, down around 0.8%, the weakest group. Utilities .SPLRCU, up more than 1.5%, was the top gainer.

Under the surface, gold/silver stocks .XAU rallied, while big banks .SPXBK, regional banks .KRX, and biotech .NBI were among weaker groups.

Among other indexes that scored a record close on the day were the S&P Small Cap 600 Index .SPCY, S&P 500 Industrials .SPLRCI, S&P 500 Materials .SPLRCM, and the S&P 500 Equal Weight Index .SPXEW.

Meanwhile, the U.S. 10-Year Treasury yield US10YT=RR, which is falling to around 4.14%, hit a four-week low.

Here is a snapshot of where markets stood just shortly after 4 p.m. ET:

(Terence Gabriel)

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