This is the New York Minute.

Wall Street broke its longest winning streak since 2013. 7 straight sessions of gains,

with a modest decline in the S&P 500

Other US benchmarks that have been setting fresh highs also faltered as the risk-on Trumpflation rally paused.

In keeping with the mood, haven assets drew buyers.

Utility stocks, which investors buy for steady income and perceived safety, were the best performing sector

And the yield on the ten-year treasury slid.

Investors also got pricing information about the highly anticipated IPO, Snap,

the messaging app that is expected to be among the largest tech IPOs in recent years.

The group intends to raise as much as 3.2 billion offering shares that are ranged 14 to 16 dollars

for market cap of up to 18.5 billion.

That's less than have been expected

but the deal remains widely awaited given the dearth of tech listings over the past few years,

as companies have opted to raise money privately instead.

Snap is likely to be a barometer of investor appetite for so-called tech unicorns

that have achieved valuations of 1 billion or more without tapping the public markets.

Pricing is March 1st.