U.S. stocks slip from record highs after strong rally

NEW YORK, Jan. 10 (Xinhua) -- U.S. stocks fell from record highs on Wednesday, as traders took profits of some of their holdings after a strong rally.

At midday, the Dow Jones Industrial Average decreased 33.60 points, or 0.13 percent, to 25,352.20. The S&P 500 lost 5.35 points, or 0.19 percent, to 2,745.94. The Nasdaq Composite Index was down 32.33 points, or 0.45 percent, to 7,131.24.

All three major indices rose to close at record highs on Tuesday, continuing their solid start to this year.

U.S. equities broke key milestones the first trading week of 2018, as the Dow, S&P 500 and Nasdaq closed above 25,000, 2,700 and 7,000, respectively, for the first time ever.

On the economic front, U.S. imports prices ticked up 0.1 percent in December, the Labor Department reported Wednesday, following a 0.8-percent rise the previous month. In contrast, U.S. export prices edged down 0.1 percent in December, after advancing 0.5 percent in November.

Meanwhile, the fourth-quarter earnings season is set to begin this week. Financial giants J.P. Morgan Chase, BlackRock, and Wells Fargo are among the companies scheduled to release results Friday.

The latest data from Thomson Reuters showed that the S&P 500 companies' blended earnings in the fourth quarter of 2017 are expected to rise 11.8 percent year on year, while the revenues are forecast to increase 6.9 percent. Enditem