Uncertainty surrounding the fiscal policy of the incoming Trump administration weighed the markets down to a lower close with the Dow dropping 63 points to 19,891. Nasdaq lost 16 points to 5,547.

On the upside

Adesto Technologies (Nasdaq: IOTS) chief financial officer Ron Shelton presented at the Needham & Co.'s 19th Annual Growth Conference

Elliott Associates disclosed an 8.3% stake in The Advisory Board (Nasdaq: ABCO) and is urging the company to explore strategic options.

ClubCorp Holdings (NYSE: MYCC) has retained the services of Jefferies and Wells Fargo Securities to review and evaluate alternatives to increase shareholder value.

On the downside

Shares of DryShips (Nasdaq: DRYS) fell for the seventh day.

Compass Point downgraded Owen Financial (Nasdaq: OCN) from a Buy rating to a Neutral rating.

The Environmental Protection Agency has accused Fiat Chrysler Automobiles (NYSE: FCAU) of emissions violations.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 index lost 4 points to 2,270. Bitcoin soared $33 to $817.