US Stock Markets Retreat from Record Highs Amid Economic Concerns

The S&P 500 and Dow Jones fell as traders anticipated upcoming economic data and faced mixed corporate earnings.

The S&P 500 declined 0.2% and the Dow Jones fell 0.7%, ending their streak of record closes.
Traders are awaiting key economic data, including GDP revision, jobless claims, and PCE inflation figures, to gauge the economy's health.
Shares of General Motors and Ford dropped significantly after Morgan Stanley downgraded them due to competition from China and a challenging consumer environment.
Technology and utilities sectors saw gains, with Intel and Vistra stocks performing strongly amid positive analyst outlooks and corporate developments.
Oil prices fell over 2% as investors reacted to China's latest economic stimulus measures, which also boosted luxury stocks and commodities like copper and silver.