The Dow Jones industrial average surrendered an opening 28-point gain, losing 7.45 points to close at 6,021.93 as interest rates rose in the bond market.
New York Stock Exchange volume totaled 463.78 million shares, vs. 482.80 million yesterday. Decliners led advancers by a slender margin on the NYSE with 1,173 up, 1,224 down and 870 unchanged.
Broader measures were mixed, with the more speculative sectors outperforming blue-chip and other large-company issues.
The Standard & Poor's 500-stock index fell 1.51 to 703.76, and the NYSE's composite index fell 0.82 to 373.68. The Nasdaq composite index rose 0.26 to 1,221.77, and the American Stock Exchange index rose 3.86 to 572.58.
Stocks started the day higher with bonds after the Labor Department reported that although businesses added 210,000 workers to their payrolls in October, helping to keep the unemployment rate steady at 5.2 percent, hourly wages did not increase.
A private research group, meanwhile, reported that its index of leading economic indicators edged up a tiny 0.1 percent in September, the smallest of eight consecutive advances.
Investors were heartened by the reports, which reinforced other recent signs that inflation was in check.
If the Federal Reserve's policy makers agree with that assessment, they may continue to hold off on trying to contain inflation by slowing the economy with an increase in the central bank's key interest rates. Higher lending rates could hurt stocks by slowing revenues and profits.
After an early advance, many stock and bond traders today trimmed their holdings to insulate some profits from any potential surprises in Tuesday's elections.
Hugh Johnson, chief investment officer at First Albany Corp., said investors had been buying recently on speculation that today's unemployment and economic indicators reports would be favorable.
"Most investors used the strength that was remaining after the news came out to sell, lighten up their positions, and go home for the weekend," he said.