After sending the markets higher on an encouraging report from the manufacturing sector yesterday, investors were sifting through some of the last third-quarter results and awaiting employment numbers, due later this week. The gap between economic reports made it a good day to take money off the table, said Brian Williamson, an equity trader at The Boston Company Asset Management.

"What you’re seeing here is kind of a void between economic data," Williamson said. "Stocks are up and money managers have to take profits. With two months to go in the year, they’ll want to lock in whatever gains they can."

The Dow Jones industrial average closed down 19.63, or 0.2 percent, at 9,838.83.

The broader gauges also closed lower. The Nasdaq composite index declined 9.73, or 0.5 percent, to 1,957.97. The Standard & Poor’s 500 index lost 5.77, or 0.5 percent, to close at 1,053.25.

Generally strong economic data, merger news and solid financial results helped the markets climb over the past month. But analysts say there could be pullbacks ahead amid a lack of earnings news.

"Our sense here is that the easy money has already been made," said Enrique Figueroa, chief investment officer at asset management firm Sand Hill Advisors Inc. in Palo Alto, Calif. Figueroa said. "If you want to outperform the market now ... you now have to be more of a stock picker."

Among companies reporting results today, Clear Channel Communications Inc. said its third-quarter earnings tripled, largely on gains from its sale of shares in Spanish-language broadcaster Univision. The radio and advertising giant dipped 30 cents to close at $41.10.

The Gillette Co. easily beat analysts’ estimates with an 18 percent rise in third-quarter earnings, thanks to strong blade and razor sales. The maker of razors and Duracell batteries closed up $1.65, or 5.1 percent, at $34.15.

Advancers also included Tyco International Ltd., which closed up $1.48, or 7 percent, at $22.50, after the company said its quarterly losses had narrowed sharply. Excluding charges, Tyco earned 34 cents a share, beating Wall Street estimates by a penny. The troubled industrial conglomerate plans to slash about 7,200 jobs under a restructuring plan that will consolidate more than 200 facilities.

The tech-dominated Nasdaq composite index, which closed at its highest level in nearly 22 months yesterday, pulled back as investors sought profits from some semiconductor issues. Chip maker Intel Corp. ended the day down 36 cents at $33.68.

Financial services companies also saw declines. Prudential Financial Inc. shed 98 cents to close at $38.05 after several former employees of its securities unit were charged in a federal investigation of mutual fund trades.

Advancers and decliners were about even on the New York Stock Exchange. Volume was moderate.

The Russell 2000 index, which tracks smaller company stocks, closed up 1.03, or 0.2 percent, at 538.87.