NEW YORK: The Dow on Tuesday edged to a new record as markets essentially moved sideways with low trading volumes.
The Dow Jones Industrial Average added 2.82 (0.02 percent) at 16,945.92.
The broad-based S&P 500 slipped a scant 0.48 of a point (0.02 percent) to 1,950.79, while the tech-rich Nasdaq Composite Index advanced 1.75 (0.04 percent) to 4,338.00.
Analysts said Tuesday's trade amounted to a pause from the recent rally, with little fresh economic data on offer.
"It was an unremarkable day when we were catalyst-light," said Art Hogan, chief market strategist at Wunderlich Securities.
US online giant eBay lost 2.7 percent on news that PayPal president David Marcus would step down and take a senior post with Facebook. Facebook advanced 4.6 percent.
Struggling retailer Radio Shack slumped 10.4 percent after reporting that it lost $98.3 million in the first quarter on sales that were 13.2 percent lower than the year-ago level. The company cited "an industry-wide decline in consumer electronics and a soft mobility market."
Allergan rejected a $53.5 billion takeover bid from Canadian firm Valeant Pharmaceuticals International, saying newest offer still "substantially undervalues the company." Allergan fell 0.7 percent, while Valeant dropped 0.9 percent.
Electronics retailer Best Buy gained 2.4 percent after boosting its dividend by 12 percent.
Women's retailer Chico's FAS jumped 7.6 percent on a report that the company is considering a sale to private equity groups.
Achillon Pharmaceuticals shot up 83.3 percent following its announcement that the US Food and Drug Administration would permit trials of its ACH-3422 treatment on patients with hepatitis C.
Bond prices fell. The yield on the 10-year US Treasury rose to 2.64 percent from 2.61 percent Monday, while the 30-year increased to 3.47 percent from 3.45 percent. Bond prices and yields move inversely.
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