US stocks edged lower on Tuesday, even as a gold index surged to all-time highs with investors again pouring money into the safe-haven commodity. An index of gold and silver miners' shares gained 1.9 percent and hit an all-time high. Shares of Barrick Gold rose 2.5 percent to $52.50. US December gold futures shot up $20.30 to $1,423.50 an ounce.
Financial stocks, which helped lead gains last week, led the S&P 500's decline. At midday on Tuesday, the S&P financial index was down 0.9 percent. The market's strong run higher has pushed the S&P 500 up to near resistance around the 1,228 level, which would retrace 61.8 percent of the decline between its highs in 2007 and the 12-year low in March 2009.
Deal activity also was supportive for stocks, with Yahoo Inc jumping 4.9 percent to $17.25 after a report it may be a takeout target. The Dow Jones industrial average fell 36.25 points, or 0.32 percent, to 11,370.59. The Standard & Poor's 500 Index dropped 3.66 points, or 0.30 percent, to 1,219.59. The Nasdaq Composite Index slipped 4.16 points, or 0.16 percent, to 2,575.89.
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