Wall Street takes tiny step back from Record Highs
Wall Street receded from record highs on Monday as a drop in healthcare stocks offset gains caused by higher oil prices and a strong jobs report. A rally to several all-time highs since late June has left the S&P 500 up nearly 7 percent in 2016, with many investors concerned about stretched valuations.
"This is a natural pause for reflection by the markets. Everyone is sitting there saying 'Holy cow, what did we do?'," said Brad McMillan, chief investment officer at Commonwealth Financial Network.Get live Indian Stock Market News Updates visit us : http://www.ripplesadvisory.com/aboutus.php or Get Two Days Free Trial just on One Missed Call @98-27-80-80-90
"Momentum is a big part of it. People are afraid of missing out." Pressured by losses in Bristol-Myers, Merck and Allergan, the S&P 500 healthcare index dipped 0.9 percent while the Nasdaq biotech index dropped 1.1 percent.
Wall Street receded from record highs on Monday as a drop in healthcare stocks offset gains caused by higher oil prices and a strong jobs report. A rally to several all-time highs since late June has left the S&P 500 up nearly 7 percent in 2016, with many investors concerned about stretched valuations. 
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