US stocks trade mixed as investors hit pause on November rally ahead of Fed comments

• Stocks traded mixed on Tuesday as investors slowed down on the November rally.
• Traders will be watching for a handful of Federal Reserve speakers Tuesday.

US stocks traded mixed on Tuesday as investors pulled back on the November rally ahead of remarks from a cadre of Federal Reserve officials.

Policymakers on the docket today include Fed Governors Christopher Waller, Michelle Bowman, and Michael Barr, as well as Chicago Fed President Austan Goolsbee.

Even as this month's stock market surge pauses, Wall Street continues to voice optimism for the year ahead.

Major banks including Goldman Sachs, Bank of America, RBC Capital Markets, and others have issued upbeat S&P 500 forecasts for 2024, with most of them fueled by hopes of a dream economic scenario of disinflation without a recession.

Meanwhile, according to seasonally adjusted data from S&P CoreLogic Case-Shiller released Tuesday, home prices inched up 0.7% in September compared to August, the eighth consecutive month of gains.

Here's where US indexes stood as the market opened at 9:30 a.m. on Tuesday:

• S&P 500: 4,544.69, down 0.13%

• Dow Jones Industrial Average: 35,345.79, up 0.03% (12.32 points)

• Nasdaq Composite: 14,236.69, down 0.03%

Here's what else is going on:

• Deutsche Bank predicted the S&P 500 will reach a record 5,100 in 2024.
• Russia's fraught rupee oil trade marks a warning for countries looking to abandon the dollar.
• Wells Fargo said stocks are likely going to be weighed down by high interest rates next year.
• US gas prices have dropped for 60 days.

In commodities, bonds, and crypto:

• Oil prices climbed, with West Texas Intermediate up 1.24% to $75.79 a barrel. Brent crude, the international benchmark, moved higher 0.90% to $80.86 a barrel.
• Gold edged up 0.56% to $2,023.10 per ounce.
• The 10-year yield rose 1 basis point to hover at 4.406%.
• Bitcoin climbed 1.39% to $37,392.