Stock rally fizzles after day of gains

The financial markets closed Tuesday pretty much where they started, leaving indexes near record highs.

At the close on Wall Street, the Dow Jones industrial average lost 2.96 points, or 0.02 percent, to 17,814.94. The Standard & Poor's 500 index sagged 2.38 points, or 0.12 percent, to 2,067.03. Only the Nasdaq composite gained, adding 3.36 points, or 0.07 percent, to close at 4,758.25.

Investors were weighing an upward revision in U.S. economic growth Tuesday against a report on a drop in consumer confidence.

THE WRAP-UP.Energy stocks fell 1.6 percent after the price of oil resumed its slide ahead an OPEC meeting on Thursday. Many expect the group won't be able to agree on production cuts.

Pall Corp, of Port Washington, a supplier of filtration technology, jumped 3.5 percent after its earnings beat estimates. Shares closed up $3.31 at $98.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.26 percent.

FASTER GROWTH: The U.S. economy grew at a solid 3.9 percent annual rate in the July-September period, even faster than first reported. The third quarter growth rate climbed from an initial estimate of 3.5 percent because of greater spending by consumers and businesses, the Commerce Department reported Tuesday.

CONFIDENCE KNOCK: U.S. consumer confidence fell in November following a big gain in the previous month. The Conference Board says its consumer confidence index fell to 88.7 in November, down from a seven-year high of 94.5 in October. The decline primarily reflected reduced optimism in the short-term outlook, as consumers expressed less confidence in current business conditions.