Stocks Stumble Late, End Flat After Series of Record Highs
Stocks flatlined into Tuesday's close, shaving early losses, but still defensive after several consecutive record highs encouraged nervous investors to take profits. Market friendly inventory and employment data mitigated early pressure, but the sluggish grind higher still left the major indices in the red for nearly the entire day. Industrials took the brunt of Tuesday's profit-taking, but semiconductor stocks were surprisingly immune to broader market weakness with a rally in Applied Micro Circuits ( AMCC ) taking the sector higher after Canaccord gave the stock a Buy rating.
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