Markets Fall From Record Highs Ahead of Earnings and Inflation Data

Stocks looked set to fall on Tuesday, with investors reluctant to make any major moves ahead of the start of fourth-quarter earnings season and a consumer price index inflation print. The Dow and S&P 500 both extended their record-breaking runs on Monday, hitting new closing highs as investors managed to shake off the worst of their worries about the independence of the Federal Reserve. The dip in futures probably reflects some apprehension ahead of the December CPI report, which will help decide if the Fed has scope to cut interest rates.