* General Motors to name first female CEO
* Lululemon falls as retailer names new CEO, founder steps
* Twitter rallies to new high
* Indexes down: Dow 0.1 pct; S&P 0.1 pct; Nasdaq 0.1 pct
By Angela Moon
NEW YORK, Dec 10 U.S. stocks edged lower on
Tuesday on profit-taking after the S&P 500 index climbed to a
record in the prior session and on caution the Federal Reserve
may end its stimulus efforts sooner than expected.
General Motors Co was in the spotlight after the
automaker said its Chief Executive Dan Akerson will step down
next month and be replaced by Mary Barra, the company's global
product development chief. The stock was down
0.3 percent at $40.76.
A number of U.S. policymakers suggested on Monday the U.S.
central bank may be closer than previously thought to trimming
its $85 billion a month in bond purchases, a policy that stocks'
"The Dow (at) 16,000 and the S&P 500 (at) 1,800 are two key
levels immediately below current prices," said Bryan Sapp,
senior trading analyst at Schaeffer's Investment Research in
"I would keep a close eye on those two round-number levels
going forward, as they've been key support and resistance zones
over the past few weeks."
The Dow Jones industrial average fell 18.55 points or
0.12 percent, to 16,006.98, the S&P 500 lost 1.81 points
or 0.1 percent, to 1,806.56 while the Nasdaq Composite
dropped 6.417 points or 0.16 percent, to 4,062.334.
A budget deal could emerge in Congress on Tuesday aimed at
avoiding a U.S. government shutdown on Jan. 15 and relieving
federal agencies of some indiscriminate spending cuts,
congressional aides said on Monday.
High-end yoga-wear retailer Lululemon Athletica Inc
named Laurent Potdevin as its chief executive and said founder
Chip Wilson will step down as non-executive chairman. The stock,
which was trading higher before the market opened, fell 1.5
percent to $69.25.
Twitter shares hit an all-time high of $51.66
shortly after the open on Tuesday, after soaring more than 9
percent on Monday.
Shares of Rambus Inc jumped nearly 18 percent to
$10.02 after settling a patent dispute with Micron Technology
Pressuring global equities, data showed China's industrial
output rose in November slightly below market expectations,
while retail sales were up stronger than expected.
U.S. regulators vote to adopt the controversial Volcker rule
to ban proprietary trading by banks and limit their investments
in hedge funds.
Early on Tuesday, Bart Chilton, a member of the Commodity
Futures Trading Commission, said he expected the agency to adopt
the rule behind closed doors on Tuesday despite a government
shutdown in Washington because of a snowstorm.