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US: Stocks retreat from records on mixed earnings, data

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[NEW YORK] Wall Street stocks finished lower on Tuesday, retreating from records following mixed earnings and economic data and amid talk the market is due for a pullback. Read more at The Business Times.

The broad-based S&P 500 shed 0.3 per cent to end the session at 3,004.04, while the tech-rich Nasdaq Composite Index fell 0.4 per cent to close at 8,222.80.

Among banks, JPMorgan Chase shook off early weakness and finished 1.1 per cent higher after reporting record profits of US$9.7 billion in the second quarter. The bank's consumer businesses were strong, but it signaled that it expects lower net interest income due to expected Federal Reserve interest rate cuts.

 

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