Stocks downshifted Tuesday, the day after their powerful worldwide rally, but optimism remained high that the global economy may still be headed for a return to normal.
It was the second day in a row that rising hopes for a COVID-19 vaccine pushed investors to rethink which stocks they see winning and losing, and that left the majority of U.S. stocks higher but indexes mixed. Treasury yields and oil, meanwhile, held on to their big gains from Monday or rose higher.
The Standard & Poor’s 500 index slipped 4.97 points, or 0.1%, to 3,545.53. The relatively small movement, though, belied