a positive for the stock market were it not for already high valuations, says IBES equity strategist Joseph Kalinowski. On Tuesday, U.S. stocks took a hit, with the Dow industrials down 75.08 to 9901.38 while the Nasdaq composite slipped 53.91 EDT to 1880.51. The S&P 500 slipped 8.40 to 1142.66.