Stocks were down slightly in midday trading on Tuesday, following a strong three-day rally.
At noon, the Dow Jones industrial average was down 8 points or less than 0.1 per cent, to 12,028. The broader S&P 500 was down 2 points or 0.2 per cent, to 1296.
Defensive stocks showed modest gains, suggesting that investors were taking a cautious approach to the economic recovery given the unrest in the Middle East and high oil prices. Telecom services rose 0.5 per cent, utilities rose 0.2 per cent and health care stocks were up 0.1 per cent.
Meanwhile, industrials fell 0.5 per cent, consumer discretionary stocks and materials fell 0.4 each, and energy stocks fell 0.2 per cent.
In Canada, the S&P/TSX composite index was down 8 points or less than 0.1 per cent, to 14,005.
Commodity producers were mixed, with materials unchanged but energy stocks down 0.2 per cent. Industrials were the biggest laggards, falling 0.7 per cent, while information technology stocks and consumer staples fell 0.3 per cent each.
Telecom services rose 0.3 per cent and financials rose 0.2 per cent.