Stocks retreated on Monday after a strong rally last week, with major averages in negative territory. Dow down 0.5% at 47,495.21, Nasdaq down 0.5% at 23,261.04, S&P 500 down 0.4% at 6,825.36. Traders cashing in on last week’s gains, with Nasdaq up 4.9%, S&P 500 up 3.7%, Dow up 3.2%. Markets optimistic about interest rates, Fed likely to cut rates next week. U.S. manufacturing activity decreased unexpectedly in November. Computer hardware and networking stocks down, energy stocks up. Asian markets mixed, European markets down. Treasury yields up at 4.088 percent.

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