Retailers and other consumer companies slipped amid consternation about the outlook for spending.
Most economists are anticipating a 2023 recession, which would lead to higher unemployment and more belt-tightening by consumers.
"Earnings expectations are also still not fully reflecting recession, in our view," said strategists at money manager the BlackRock Investment Institute, in a note to clients.
In a good sign for home-building trends, outlays for construction projects rose 0.2% in November to $1.81 trillion, the Commerce Department reported.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-03-23 1702ET