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S&P 500 pulls back from record high

Video Credit: Reuters Studio - Duration: 01:28s - Published < > Embed
S&P 500 pulls back from record high

S&P 500 pulls back from record high

The S&P 500 edged lower on Tuesday a day after it hit a record high.

Yahaira Jacquez reports.

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S&P 500 pulls back from record high

Stocks on the Wall Street finished the day in the red Tuesday a day after the S&P 500 hit a record high.

Hopes of a U.S.-China trade deal have caused markets to rise this week but the indexes pulled back after Trump administration officials told Reuters that the interim trade agreement between Washington and Beijing may not be finished in time for when President Trump and his Chinese counterpart meet next month.

Also front and center for investors: monetary policy.

With the Federal reserve on Wednesday expected to cut rates for the third times this year.

Carol Schleif of Abbot Downing Asset Management: (SOUNDBITE) (English) ABBOT DOWNING ASSET MANAGEMENT DEPUTY CHIEF INVESTMENT, CAROL M.

SCHLEIF, SAYING: "We are expecting one more cut from the Fed, and its anybody's guess what happens in December and a lot of it will depend on the commentary that accompanies that and I think the markets have already discounted that cut and would be very surprised if they don't cut." Investors also had a heavy batch of corporate earnings to sift through.

Shares of drug makers

Class="kln">Merck and Pfizer both rose after reporting strong results, making healthcare the best performing sector of the session.

Meanwhile Google parent Alphabet lost ground, weighing on the Nasdaq after reporting a profit miss due to higher costs.

Still on track to report this week, Facebook and

Class="kln">Apple.




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S&P 500 pulls back from record high [Video]S&P 500 pulls back from record high

The S&amp;P 500 edged lower on Tuesday a day after it hit a record high. Yahaira Jacquez reports.

Credit: Rumble     Duration: 01:28Published

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