Summary

The Dow Jones Industrial Average eked out a fourth consecutive record high close on Tuesday, while the S&P 500 ended marginally lower after a disappointing profit forecast from Priceline and a decline in the financial sector. The S&P 500 financial index led decliners with a 1.33 percent drop.

Priceline fell 13.52 percent while travel-review website operator TripAdvisor dropped 23.22 percent to a five-year low after both companies issued quarterly profit forecasts that did not meet Street expectations.

Defensive sectors such as utilities and consumer staples were the top gainers on the S&P 500, both rising more than 1 percent. Procter & Gamble added 1.08 percent.

Goldman Sachs lost 1.51 percent and weighed the most on the Dow, while JPMorgan and Bank of America were among the top three drags on the S&P 500.

Investors were also nervous about the potential outcome of a Republican plan to cut corporate taxes, unveiled last week. As well as slashing the corporate rate to 20 percent from 35 percent. the bill would eliminate many tax breaks and is expected to face opposition from interest groups.

The S&P 500 is up about 15 percent this year, due in large part to strong earnings, an improving economy, and promises by the administration to cut taxes.

In after-hours trading, Snap fell 16 percent after the company reported lower-than-expected daily active users for the third quarter.

During the session, Valeant Pharmaceuticals rose 17.11 percent on an earnings number that exceeded Street estimates.

Mallinckrodt fell 35.50 percent to an all-time low after the pharmaceutical manufacturer reported a dismal quarterly revenue number and warned of slower sales for Acthar, its largest source of revenue.

Approximately 7.0 billion shares changed hands on the major domestic equity exchanges, a number that was above the 6.4 billion share daily average during the past 20 sessions.