Wall Street slips; indexes still near record highs

The Nasdaq hit a record high earlier in the session, helped by a rise in Microsoft and other big tech stocks. U.S. stocks had been on a tear since Donald Trump's surprise victory in the presidential election last week as his proposals to increase infrastructure spending and reduce taxes are seen benefiting the economy. The rally lost steam this week as investors took to the sidelines, awaiting more clarity regarding Trump's policies.

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Wall Street slips; indexes still near record highs

Wall Street rally stamps exclamation point on volatile week

A 4.3-percent jump in the S&P energy sector laid the foundation for the S&P 500's strongest session so far this year. After dropping earlier this week to 2014 lows, the S&P 500 has recovered in the past two sessions to end the week 1.4-percent higher. The Dow Jones industrial average rallied 1.33 percent to finish the session at 16,093.51 points while the S&P 500 surged 2.03 percent to 1,906.9.

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Wall Street rally stamps exclamation point on volatile week