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S&P 500 slips from record high as investors eye mixed earnings and Fed interest rate decision amidst stalled China trade talks
The S&P 500 closed lower on Tuesday, with trade talks with China stalling ahead of the Federal Reserve’s upcoming rate decision.
The index lost 0.30%, finishing at 6,370.86, while the Dow Jones dropped 204.57 points to 44,632.99.
Earlier in the day, both the S&P and Nasdaq reached all-time highs but faced selling pressure as negotiations with Beijing concluded without clear advancement.Traders are reassessing their positions after significant gains in recent months, aided by positive trade talks involving the U.S. and its allies.
Market Summary
However, uncertainty remains over China tariffs, awaiting President Trump’s approval. Boeing shares declined despite meeting earnings expectations, and UPS and Whirlpool experienced significant losses due to disappointing earnings.
This week is critical for corporate earnings, with major companies like Meta Platforms and Apple set to announce their results soon. Nearly 82% of S&P 500 companies that have reported so far beat expectations. The Federal Reserve is anticipated to maintain interest rates between 4.25% and 4.5%, contributing to cautious market sentiment.
Investor focus will shift to economic data releases, including GDP and payroll figures expected later this week, potentially influencing future market movements.
