Major Averages Finish Broadly Lower as S&P 500 and Dow Hit Record Highs

The major averages finished broadly lower to begin the final trading week of the year after a strong rally that pushed the S&P 500 and Dow to record highs last week. Traders are wrestling with profit-taking in major tech and AI-linked names even as the broader benchmark indexes remain close to all-time peaks. Precious metals have pulled back, contributing to cautious positioning among risk assets, while energy and select cyclical names show pockets of relative strength.Looking to commodities, gold was sharply lower, retreating from record highs, while oil prices rallied toward $60 a barrel.Get caught up quickly on the top news and calls moving stocks with this Midday Fly By.STOCK NEWS:SoftBankDigitalBridgefor $16 per share in cashLululemonfounder Chip Wilsonof three independent director candidatesCoupangannounced a 1.69T KRWover data breachVeriskhasto acquire AccuLynxWALL STREET CALLS:Amicusto Market Perform at Leerink after takeover dealPalisade Biowith an Overweight at Piper SandlerTurn Therapeuticswith a Buy at D. Boral CapitalNorthland1stDibsat Market Perform, awaits "more robust growth"AROUND THE WEB:New Era Energy & Digitalas New Mexico AG Raul Torrez filed a lawsuit against the companyWhile consistently the number 2 warehouse-club company in the U.S., Walmart-ownedSam's Club has been able to beat out Costcoin China,Novo Nordiskhas cut the listing prices by half for its obesity drug Wegovy in some Chinese provinces as the company prepares for copycats to flood the market,Hyundaiis not in a position to repurchase its manufacturing plant in Russia due to the war in Ukraine,Airbusis producing aircraft at a rapid pace in the final days of the year as the company works to achieve its recently cut annual aircraft delivery goal,MOVERS:Eightcoincreases after its board of directors approved afor up to $125MAutolusgains in New York after Needham named the stock as itsEnergy Fuelshigher after providing anUltragenyxlower after announcing its Phase 3 Orbit and Cosmic studies for setrusumabINDEXES:The Dow fell 249.04, or 0.51%, to 48,461.93, the Nasdaq lost 118.75, or 0.50%, to 23,474.35, and the S&P 500 declined 24.20, or 0.35%, to 6,905.74.