The Dow Jones industrial average fell 8.51 to 5,868.85 after rebounding from an early slide and flirting with Monday's all-time high at 5,894.74.
Advancers outnumbered decliners by an 11-to-8 margin on the New York Stock Exchange, with 1,406 up, 1,020 down and 807 unchanged. NYSE volume totaled 499.85 million shares, vs. 451.70 million yesterday.
The Standard & Poor's 500-stock index rose 0.03 to 685.86, and the NYSE composite index rose 0.69 to 365.99, beating Friday's record finish at 365.77.
The Nasdaq composite index rose 3.36 to 1,228.02, and the American Stock Exchange index rose 1.30 to 567.19.
Broader indexes finished higher in heavy trading, but retreated into the close as investors took profits. The New York Stock Exchange composite nonetheless closed at a new high.
The renewed interest in computer-related shares continued to percolate, boosting the technology-rich Nasdaq composite.
Bonds rallied for the third straight session. The yield on the 30-year Treasury bond fell to 6.88 percent, down from late yesterday's 6.92 and the lowest level in more than a month.
Reports on factory orders and unemployment claims were seen as evidence economic growth may be slowing enough to control inflation without higher interest rates.