WALL STREET - NEW YORK. The Dow Jones Industrial Average and S&P 500 closed lower on Wednesday, pulling back from recent record highs driven by China's sweeping stimulus package, as investors awaited economic indicators and signals on upcoming interest rate cuts.
The three main indexes were positioned for monthly gains after the Federal Reserve's rate cut on Sept. 18 bolstered hopes for a soft landing. However, a weak consumer sentiment report on Tuesday raised concerns about the health of the labor market.
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