US: Stocks retreat as markets await Federal Reserve decision

Wall Street stocks finished lower on Tuesday as the Federal Reserve opened a monetary policy meeting amid strong consumer data and more White House pressure to cut rates.[NEW YORK] Wall Street stocks finished lower on Tuesday as the Federal Reserve opened a monetary policy meeting amid strong consumer data and more White House pressure to cut rates.

The broad-based S&P 500 declined 0.3 percent to 3,013.18, while the tech-rich Nasdaq Composite Index dropped 0.2 per cent to 8,273.61.US consumer confidence in July rebounded strongly as survey respondents reported robust labour and business conditions and increased optimism, according to the Conference Board.

The better economic data means"the uncertainty surrounding the central bank's future policies has increased," said Gorilla Trades strategist Ken Berman.

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