Dow34577.37-208.98(-0.60%)Nasdaq14663.65+24.32(0.17%)SP 5004343.54-8.80(-0.20%)10-yr Note +29/321.358NYSEAdv 1174 Dec 2097 Vol 1.0 blnNasdaqAdv 1407 Dec 2879 Vol 4.4 bln Industry Watch Strong: Information Technology, Consumer Discretionary, Real Estate, UtilitiesWeak: Energy, Financials, Materials, Industrials Moving the Market -- Peak growth concerns contributed to cool-down session and some rotation out of value into growth-- Softer-than-expected June ISM Non-Manufacturing Index, Delta variant concerns -- 10-yr yield slipped below 1.40% Dow -208.98 at 34577.37, Nasdaq +24.32 at 14663.65, S&P -8.80 at 4343.54 [BRIEFING.COM] The S&P 500 declined 0.2% on Tuesday in an uneven session, snapping a streak of seven straight record closes. The benchmark index opened at a marginal all-time high, then dipped as much as 0.9% into negative territory before cutting its losses in the afternoon. The Nasdaq Composite (+0.2%) set intraday and closing record highs with a modest gain, while the Dow Jones Industrial Average (-0.6%) and Russell 2000 (-1.4%) underperformed but closed off their lows. Declining issues outpaced advancing issues by roughly a 2:1 margin at the NYSE and Nasdaq. Peak growth concerns were attributed to the broader decline, as the June ISM Non-Manufacturing Index decelerated to 60.1% (Briefing.com consensus 63.0%) from a record-high 64.0% in May and a study out of Israel suggested that Pfizer's ($PFE 39.27, -0.46, -1.2%) COVID-19 vaccine was less effective in preventing contraction of the Delta variant versus previous strains. These growth concerns were manifested in some rotation out of value and into growth stocks; the sharp declines in the cyclical S&P 500 energy (-3.2%), financials (-1.6%), materials (-1.4%), and industrials (-0.9%) sectors; weaker oil ($73.42, -1.83, -2.4%) and copper ($4.25/LB, -0.03, -0.5%) prices; and a six-basis-point decline in the 10-yr yield to 1.37%. The information technology (+0.4%) and consumer discretionary (+0.8%) sectors closed higher, largely due to sizable gains in Apple ($AAPL 142.02, +2.06, +1.5%) and Amazon.com ($AMZN 3675.74, +164.76, +4.7%). The real estate (+0.9%) and utilities (+0.4%) sectors also closed higher, benefiting from the lower rates. The 4.7% move in Amazon shares was noteworthy, coinciding on the first trading day of Andy Jassy as CEO and amid news the Pentagon canceled the $10 billion JEDI cloud award that was originally given to Microsoft ($MSFT 27.66, +0.01, unch). Regarding the late-day comeback effort, it seems plausible that investors digested the news flow and decided to buy the dip in part due to a recognition that the market's record-setting streak happened despite the peak growth narrative. Others viewed today as a natural cool-down session for the market. In other interesting developments, OPEC+ was unable to agree to further production increases, which temporarily boosted WTI futures to a six-year high, and China's DiDi Global ($DIDI 12.49, -3.04, -19.6%) dropped 20% at the NYSE after its app was removed from app stores in China for violation of laws and regulation. The 2-yr yield decreased three basis points to 0.21%. The U.S. Dollar Index increased 0.4% to 92.54. Reviewing Tuesday's economic data, which featured the ISM Non-Manufacturing Index for June: The ISM Non-Manufacturing Index for June decreased to 60.1% (Briefing.com consensus 63.0%) from a record-high 64.0% in May. The dividing line between expansion and contraction is 50.0%. The June reading marks the thirteenth straight month of growth for the services sector.The key takeaway from the report is the understanding that services sector activity is still running at a fast pace, although it has moderated since May with some of the slowdown driven by services companies experiencing difficulties with employee turnover and finding qualified candidates.The final reading for the June IHS Markit Services PMI checked in at 64.6, which was slightly lower from the preliminary reading of 64.8. Looking ahead, investors will receive the weekly MBA Mortgage Applications Index, the JOLTS report for May, and the FOMC Minutes from the June meeting on Wednesday. S&P 500 +15.6% YTDRussell 2000 +15.2% YTDNasdaq Composite +13.8% YTDDow Jones Industrial Average +13.0% YTDSource: (Briefing.com) Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. .