Stocks retreated on Tuesday as the major averages took a breather from their postelection run.

The Dow Jones Industrial Average pulled back 382.15 points, or 0.86%, to 43,910.98, while the S&P 500 dropped 0.29% to close at 5,983.99. The Nasdaq Composite ended the session marginally lower, falling 0.09% to 19,281.40. Both the tech-heavy Nasdaq and the S&P 500 snapped five-day win streaks.

Key components of the so-called Trump trade were among the most notable losers Tuesday. Small-cap stocks, which are viewed as a potential beneficiary of Donald Trump's return to the White House, were broadly under pressure, with the Russell 2000 dipping about 1.8%.

Shares of Tesla, which have advanced about 31% since Election Day, sank more than 6% on Tuesday, while Trump Media & Technology Group fell nearly 9%. The stock is down 10% since Trump's victory.

Stocks may have already gotten ahead of themselves even before Trump won a second term last week, according to Siebert chief investment officer Mark Malek. Now that the market has removed the overhang of the election, some of the core economic headwinds that have lingered are coming back to the forefront, he added.

"What's driving today's trade is maybe a little bit of exhaustion," Malek told CNBC. "We're all concerned about [debt and deficits]. The deficit is always a problem when it's a problem, but right now the market views it as a problem. It may be a reason to take your foot off of the gas when the market already has a bit of indigestion."

Market participants will next turn their attention to consumer and producer price index readings scheduled for later in the week. The release of these inflation gauges comes after the Federal Reserve last week announced another interest rate cut.

Tuesday's action comes a day after the Dow closed above 44,000 for the first time. The S&P 500 also had its first close above 6,000. The trading has reflected investor optimism that a second term for Trump could bring both lower taxes and looser regulations, ultimately serving as a boon to the broader market.

Stocks close lower, postelection climb exhales

Stocks closed lower on Tuesday, as Wall Street pauses from a postelection rally.

The S&P 500 slipped 0.29% to close at 5,983.99, while the Nasdaq Composite fell 0.09% to 19,281.40. The Dow Jones Industrial Average pulled back 382.15 points, or 0.86%, to finish the session at 43,910.98.

— Brian Evans

Amgen shares tumble 6% on a report its obesity drug led to loss of bone mineral density

Shares of Dow-component Amgen tumbled more than 6% after Cantor Fitzgerald analyst Olivia Brayer published a research note that said data from the company's phase 1 trial of MariTide suggests the experimental obesity drug may result in bone mineral density loss.

In a research note, Brayer noted that patients may naturally see a loss in bone density when attempting to lose weight if they eat too little or don't eat enough healthy food. However, it's also possible "this could be a non-starter because there seems to be a dose-dependent increase in [bone mineral density] loss."

Amgen officials weren't immediately available to comment when CNBC reached out for comment.

—Christina Cheddar Berk

Destiny Tech100 gives back some postelection gains

The Destiny Tech100 closed-end fund was down 24% in afternoon trading, erasing a chunk of its postelection gains.

The fund holds shares in private companies, with its biggest position being SpaceX. The fund surged after the election, possibly as a proxy for SpaceX CEO Elon Musk, who campaigned with Donald Trump.

The fund is still trading at a premium of roughly 500% to its net asset value, which was $5.15 as of June 30.

— Jesse Pound

Three quarters of all NYSE stocks are falling Tuesday; 63% of Nasdaq in retreat

Roughly three quarters of all the stocks on the New York Stock Exchange are down in price Tuesday (2,090 out of 2,824 traded), while on the Nasdaq the percentage of declining stocks is about 63% (2,770 out of 4,388), according to FactSet data.

Measured by share volume, decliners on the NYSE account for some 71% of the total while on the Nasdaq, losers account for roughly 59.5% of all shares changing hands.

Still, because of the stock market's recent march to all-time highs by most measures, the number of new 52-week highs reached 177 on the NYSE vs 66 new 52-week lows. On the Nasdaq, new highs topped new lows by 257 to 141.

Total composite volume was far lighter than usual Tuesday on the NYSE, reaching about 70% of the past 30 days' average in late day trading, against more than 95% of the average on Nasdaq.

— Scott Schnipper

Small caps pull back following postelection rally

Small-cap stocks took an outsized hit on Tuesday after running up in a postelection rally.

The small cap-focused Russell 2000 slipped 1.4% during the session. That put the index on track to give up around all of its gain seen in the previous day.

By comparison, the broad S&P 500 slipped just around 0.1% in Tuesday trading.

Small-cap stocks have been viewed as winners during a second Donald Trump term because they can benefit from less regulation. Notably, the Russell 2000 is up about 6% compared with one week ago.

— Alex Harring

Disney expands search for successor to CEO Bob Iger, sources tell the Wall Street Journal

The Wall Street Journal reported on Tuesday that Disney was exploring fresh candidates to succeed CEO Bob Iger, citing people familiar with the matter.

External candidates that have come under consideration include Andrew Wilson, CEO of video game company Electronic Arts. Previously, the role had been considered an internal horse-race between four tenured executives at Disney, the Wall Street Journal said. Iger is due to step down from his role at his contract's expiration in 2026.

Shares of Disney were last trading around 0.7% lower.

— Lisa Kailai Han

'Unwind risks' for stocks are rising, Citi says

The postelection excitement for investors may be setting up the market for a short-term pullback, according to Citi.

The investment firm's quantitative research team said in a note to clients that the current positioning in the stock market is "extended" and that "unwind risks are building for both the S&P 500 and Russell 2000."

"S&P positioning is currently at the highest level witnessed in the past 3 years, with positioning levels also extended across Nasdaq and Russell 2000. Profits are elevated for both S&P and Russell and this could lead to near-term profit-taking which may limit further upside," the note said.

— Jesse Pound

Stocks making the biggest midday moves: Shopify, Honeywell and more

These are the stocks moving the most in midday trading:

Shopify — Shares surged 26% after the e-commerce platform operator posted third-quarter operating income of $283 million, higher than the $122 million in the same quarter a year ago.

Honeywell — The industrial giant climbed 3% after Elliott Management disclosed a $5 billion stake.

GE Vernova — Shares tumbled nearly 8% after the wind turbine manufacturer's CEO, Scott Strazik, told The Financial Times he will hold off on his search for new offshore turbine orders.

Read the full list of stocks moving here.

— Lisa Kailai Han

Solar stocks under pressure again

The postelection rally for the broader market might be taking a pause on Tuesday, but the postelection sell-off for clean energy stocks looks to be in full swing.

The Invesco Solar ETF (TAN) fell more than 4% on Tuesday and is now down nearly 15% since Election Day. Shares of Enphase Energy dropped 6%, while Solaredge Technologies slid more than 10%.

The selling wasn't limited to just solar-specific stocks. Shares of Clearway Energy and Fluence Energy sank 5% and 7%, respectively.

— Jesse Pound

Morgan Stanley raised Walmart price target ahead of earnings

Morgan Stanley is excited about Walmart ahead of the retail giant's earnings results.

The bank raised its price target on Walmart to $89 from $82, implying upside of 5.7%.

"Expecting modest upside for 3Q25 and 4Q25 implied guidance on higher operating leverage. Stock should remain supported provided that WMT continues to penetrate high-income cohorts, leverage critical mass in eCommerce and further propel the high-margin Advertising/Marketplaces flywheel," analyst Simeon Gutman wrote.

— Fred Imbert

Richmond Fed's Barkin sees economy and policy in a 'good place'

Richmond Federal Reserve President Thomas Barkin said Tuesday that the economy is progressing well and the central bank has positioned itself well to respond to either an upturn or downturn.

"With the economy now in a good place and interest rates off their recent peak but also off their historic lows, the Fed is in position to respond appropriately regardless of how the economy evolves," Barkin told an audience in Baltimore. "After the challenges of the last several years, that's a good place to be."

He declined, though, to provide a forecast on where he sees interest rates heading or how aggressively the Fed might act.

—Jeff Cox

Dollar rises against major currencies

The dollar index gained 0.4% Tuesday to 105.95. Month to date, the dollar has strengthened 1.9% against the basket of six major currencies.

The greenback rose 0.5% against the Japanese yen to 154.5 yen. This marked the yen's weakest level against the dollar since July 2024.

— Hakyung Kim

Home Depot posts quarterly beat, notes consumers are still cautious

Home Depot posted better-than-expected third-quarter results Tuesday, although executives cautioned that consumers remain wary of splurging on big-ticket items and larger projects.

"There is demand for remodeling, and they are putting it on hold until they see a more favorable financing environment," Home Depot Chief Financial Officer Richard McPhail told CNBC. "And so the demand is there, the question is, when it's unlocked."

Home Depot also upped its full-year sales outlook to reflect growth of 4%. Its previous forecast called for a range of 2.5% to 3.5%.

— Brian Evans

Stocks open little changed

Stocks were little changed on Tuesday, with Wall Street shifting gears away from the election and looking toward a key inflation print on Wednesday.

The S&P 500 inched up 0.02%, while the Nasdaq Composite slipped 0.1%. The Dow Jones Industrial Average added 35 points, or 0.09%.

— Brian Evans

Stocks on the move before the bell

These are the stocks making the biggest moves before the bell:

• Shopify — The e-commerce platform operator popped 14% after posting third-quarter operating income of $283 million, up from $122 million in the same quarter a year ago. Shopify's revenue of $2.16 billion also came above a FactSet estimate of $2.12 billion.
• Home Depot — Shares of the home improvement retailer rose 1.7% after the company topped earnings expectations and lifted its full-year outlook. Sales rose more than 6% on a year-over-year basis.
• Live Nation Entertainment — Shares jumped 5% after the live music and entertainment company posted an earnings beat for the third quarter.

Read the full list here.

— Samantha Subin

A hotter-than-expected inflation print won't derail Wall Street optimism, says JPMorgan

A hotter-than-expected inflation print Wednesday likely won't derail Wall Street's appetite for risk, according to JPMorgan.

"We think it is unlikely that a hotter print this week derails the risk-on tone and that investors will look through any hot print here since there is another CPI print ahead of the December Fed meeting," the firm wrote in a Tuesday note.

"Realistically, investors are unlikely to shift to a caution portfolio stance until you see Headline CPI ~3.5%, which would then represent a credible threat for the Fed to move towards tightening; we are of the view that it would take inflation moving back to/through 4% for the Fed to act," the firm added.

— Brian Evans

Asia-Pacific markets fall as U.S. postelection rally fails to lift regional optimism

Asia-Pacific markets fell Tuesday, with investors exercising caution even as U.S. stocks continued their postelection rally, with key benchmarks closing at record highs.

Traders in Asia-Pacific also assessed economic data from the region, including a survey from the National Australia Bank on business conditions and Indonesia's September retail sales.

Hong Kong's Hang Seng index traded over 3% lower in its last hour of trade, while mainland China's CSI 300 shed 1.1% to end at 4,085.74.

Australia's S&P/ASX 200 closed 0.13% lower at 8,255.6. South Korea's Kospi fell by 1.94% to close at 2,482.57, while the Kosdaq Index dropped 2.51% to 710.52.

Japan's Nikkei 225 slipped 0.4% to close at 39,376.09. The Topix ended the trading day around the flatline at 2,741.52.

— Lee Ying Shan

Australia's consumer sentiment grows for a second consecutive month in November

Australian consumer sentiment saw a jump by 5.3% in November, according to a survey by the Westpac-Melbourne Institute index.

This compares to October, which saw a 6.2% climb. Australia's consumers are now more confident about the economic outlook, seeing some further easing in family financial pressures and no longer concerned about risks of further interest rate hikes, said Westpac's head of Australian macro-forecasting, Matthew Hassan.

"The consumer recovery gained more traction through October-November but the survey detail suggests some of this momentum has been checked by renewed uncertainty following the U.S. election," Hassan added.

Australian business confidence in October rose to its highest since early 2023, data from LSEG showed. The volatile index advanced from -2 in September to +5 in October. The country's business conditions remained steady at +7 in the same month.

—Lee Ying Shan

Crypto stocks surge double digits, Coinbase trades over $300 for first time since 2021

Crypto stocks extended last week's gains as investors basked in the honeymoon period between election day and inauguration day and stayed bullish about the future of the industry under a second Donald Trump presidency.

Coinbase shares jumped 19% on Monday to $324. They were trading above $300 for the first time since 2021 and about 6% off their 2021 record. MicroStrategy shares were also up 25% and miners made big gains across the board.

Crypto stocks were propelled by bitcoin, which continues to hit new highs. It rose above $80,000 over the weekend and approached the $90,000 mark Monday night.

— Tanaya Macheel

Nasdaq Composite closes at 4th straight record Monday

The Nasdaq Composite Index, comprised of 3,473 stocks that trade on the Nasdaq Stock Market, closed at its fourth consecutive record high Monday. The Nasdaq has also set four straight intraday highs, with Monday's coming at 19,366.07.

The latest market move, which began the day after the presidential vote last Tuesday, eclipsed the prior all-time closing high set Oct. 29, which itself topped what had been the July 10 Nasdaq peak.

The Nasdaq has risen 5.76% over the past week, 16% over the past three months and more than 29% in 2024, according to FactSet data.

— Scott Schnipper

S&P 500 notches third best presidential election week since 1928, data shows

The S&P 500 just saw its third best presidential election week since 1928, according to Bespoke Investment Group.

The broad index climbed around 4.7% over the course of last week, a timeframe that included the presidential election won by Donald Trump. That gain is the third highest in a presidential election week for the S&P 500 when looking at nearly a century's worth of data, Bespoke found.

Looking back to 1928, the firm only found two presidential election weeks that brought stronger returns for the benchmark. The best on record took place in 1932, when Franklin D. Roosevelt won. The second best was in 2020, which saw Joe Biden beat Trump.

— Alex Harring

Small caps continue to rally

Small-cap stocks extended gains on Monday as investors see these companies benefiting from President-elect Donald Trump's preference for deregulation.

The small cap-focused Russell 2000 jumped 1.5% in Monday's session. By comparison, the broad S&P 500 finished just marginally above its flatline.

With Monday's rally, the Russell 2000 is now up about 9.7% from one week ago. That means it has outperformed the S&P 500, which has added just around 5% in this timeframe.

— Alex Harring

Stocks move after hours

These are some of the stocks making moves in extended trading:

• Live Nation Entertainment — The Ticketmaster parent popped 6.2% after posting earnings of $1.66 per share for the third quarter, topping the consensus estimate of $1.59 from analysts polled by LSEG. However, Live Nation saw $7.65 billion in revenue, less than the $7.75 billion figure anticipated by Wall Street.
• Zeta Global — The cloud stock tumbled 7.3% after announcing better-than-expected revenue for the third quarter and issuing strong guidance for the measure. Revenue in the three-month period came in at $268.3 million, above the $252.7 million prediction from analysts surveyed by FactSet.
• IAC, Angi — Holding company IAC said Monday that it's considering a spinoff of home improvement service platform Angi. IAC shares added 2.9%, while Angi shares dropped 7.6%.

— Alex Harring

Stock futures are near flat

Stock futures tied to the Dow, S&P 500 and Nasdaq 100 were all little changed shortly after 6 p.m. ET. That comes after the three major indexes finished Monday's trading session at record closing levels.

— Alex Harring