Key Points
- Wall Street stocks finished lower after giving up earlier gains.
- Investors are nervously waiting for the Federal Reserve’s interest rate decision on Wednesday.
- A Friday deadline for President Trump’s trade deals is adding to the uncertainty.
- Recent economic data was mixed, with job openings falling but consumer confidence rising.
U.S. stocks gave up their earlier gains on Tuesday, finishing lower as investors digested a mixed bag of corporate earnings and economic data. All eyes are on the Federal Reserve, which is set to announce its interest rate decision on Wednesday, and the looming deadline for President Trump’s trade deals.
As of the 3:10 PM (ET) market update, the S&P 500 index stands at 6,374.74 USD, reflecting a decrease of 0.24%. Similarly, the Nasdaq 100 index is at 23,338.94 USD, with a marginal decline of 0.07%. The Dow 30 index shows a value of 44,619.60 USD, marking a decrease of 0.49%.
The trade war remains a key focus. Treasury Secretary Scott Bessent said that President Trump will make the final call on extending the tariff truce with China. Hopes for an extension are providing some support. Still, the Friday deadline for all trading partners to strike deals or face new tariffs is keeping markets on edge.
Meanwhile, the Federal Reserve kicked off its two-day policy meeting. While the Fed is expected to hold rates steady, investors are looking for any hints about potential cuts later this year. Recent economic data has been mixed, with a report showing job openings fell in June, setting the stage for the big monthly jobs report on Friday.
Corporate earnings were also a major story. Boeing did well, posting better-than-expected results. However, weaker reports from companies like Spotify and Merck weighed on the market. After the closing bell, investors turned their attention to Starbucks for an update on its turnaround efforts.
