Stocks are retreating from their early highs with the tech-heavy Nasdaq leading the slide. The indices aren't being helped by the November factory orders report which increased 1.8%, beating the consensus estimate of 1.7%. In corporate news, JP Morgan is expected to announce this week it will pay over $2 billion for its alleged failure to warn investors over the Madoff fraud scheme. Elsewhere, Joseph A Bank is up almost 5% after Men's Wearhouse commenced a cash tender for the company. Finally, the Senate is expected to confirm Janet Yellen's appointment as Federal Reserve chair later today.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

If you liked this article you might like

JPMorgan CEO Jamie Dimon Attacks Bitcoin Again

SEC's Cyber-Gaffe Highlights Risk of Trump Budget Cuts at Agency

Bitcoin Will Soar to $5,000 Barring a Major Catastrophe

Strange Days at Apple

China's Banks Halt Business With North Korea Per United Nations Sanctions