Retailers and other consumer companies fell slightly after a mixed batch of earnings.
Exercise-equipment concern Peloton Interactive posted a 23% drop in third-quarter sales.
Cereal-maker Kellogg boosted its outlook after reporting 9% growth to its top line in the third quarter, the latest food company showing sales holding up as they raise prices.
Swedish flat-packed furniture giant IKEA reported a sharp fall in annual profit, hurt by rising costs for lumber and other raw materials.
French luxury giant Kering is nearing an agreement to buy out fashion brand Tom Ford, The Wall Street Journal reported.
Starbucks rose after it posted surprisingly strong quarterly sales growth.
The National Retail Federation predicted sales in U.S. stores and Web sites will rise between 6% and 8% to between $942.6 billion and $960.4 billion from Nov. 1 through Dec. 31, a significant slowdown from the growth rate during the prior year's holiday season.
The October jobs report Friday could also help set the tone for holiday shopping season.
"If there's a miss one way or another, it could send the market whipping around," said JJ Kinahan, chief executive of IG North America.
Duelling concerns about inflation and growth mean the response to any surprises in the jobs data could be counterintuitive, said Mr. Kinahan.
"If you're the Fed, you're probably hoping for not as strong a jobs market," said Mr. Kinahan.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-03-22 1708ET
