Market Snapshot: Stocks close down after Trump says ‘a long way to go’ on trade and investors digest bank earnings

  • Trump says there’s ‘a long way to go” on China trade deal
  • Bank earnings paint a mixed picture of the economy and financial services sector
  • Retail sales data shows continued health of U.S. consumer

U.S. stocks closed lower on Tuesday after President Donald Trump said an agreement with China on trade tariffs had “a long way to go,” in a briefing with reporters. The fade came a day after major equity indexes eked out a round of all-time closing highs and as Wall Street digested a fresh, bank-heavy round of earnings reports.

How are the major benchmarks performing?

The Dow Jones Industrial Average DJIA, -0.09% fell 23.5 points to 27,335.6, a loss of 0.1%, the S&P 500 index SPX, -0.34% dropped 0.3% to 3,004.0, shedding 10.3 points and the Nasdaq Composite index COMP, -0.43% edged 0.4% low, or a 35.4 point drop, to 8,222.8.

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