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After record peaks, stock market cautious in 2015

Something odd happening in market

The start of a new year had Wall Street treading carefully, with investors looking for further gains in the U.S. labor market in beginning 2015's first full week of trading.

"The biggest number of the week is employment. People are a bit more cautious as we head into the beginning of 2015," said JJ Kinahan, chief market strategist at TD Ameritrade.

"The main focus is going to be the jobs numbers, as long as people are feeling better about the jobs picture, the rest of the world matters less," said Kate Warne, investment strategist at Edward Jones, referring to slowing growth in Europe and Asia.

Equity investors tracked the price of crude, U.S. Treasury bonds and the strengthening U.S. dollar in considering the firmness of the global economy and implications for Wall Street.

"With oil down, everyone is trying to reassess how strong 2015 will be, I would say we're seeing caution as investors start the year," said Warne.