The major benchmarks took a breather today, despite a strong showing from big-box retailers in the earnings confessional. Investors are also digesting the latest housing starts and building permits data, with the former coming in much lower than Wall Street anticipated. The Dow shed roughly 211 points to give back the 36,000 level, while the S&P 500 and Nasdaq also posted modest losses. 

The Dow Jones Average (DJI - 35,931.05) lost 211.2 points or 0.6% for the day. Apple (AAPL) was the best-performing Dow stock, adding 1.7%, while Visa (V) shed 4.7% to pace the 22 laggards.

The S&P 500 Index (SPX - 4,688.67) shed 12.2 points, or 0.3% for the day, while the Nasdaq Composite (IXIC - 15,921.57) fell 52.3, or 0.3% for the day.

Lastly, the CBOE Market Volatility Index (VIX - 17.11) added 0.7 points or 4.5% for the day. 

IEA, OPEC+ WARN OF IMPENDING OVERSUPPLY

Oil prices fell to their lowest level since early October, after the International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries and its allies' (OPEC+) both issued oversupply warnings. In addition, rising Covid-19 cases in Europe continue to dent demand recovery prospects. As a result, December-dated crude shed $2.40, or 3% to settle at $78.36 a barrel today.

Gold prices rose, brushing off a U.S. dollar that was strengthened by bets that the U.S. central bank will hike interest rates earlier than expected to battle inflation. December-dated gold added $16.10 or, 0.9%, to settle at $1,870.20 on the day.