U.S. stocks fall after long weekend

U.S. stocks traded lower in the morning session on Tuesday, the first trading day after a long holiday weekend, as Wall Street shifted its focus from Brexit to the uncertainty over the timing of the next rate hike.

At midday, the Dow Jones Industrial Average was down 117.07 points, or 0.65 percent, to 17,832.30. The S&P 500 lost 16.88 points, or 0.80 percent, to 2,086.07. The Nasdaq Composite Index shed 52.92 points, or 1.09 percent, to 4,809.65.

Investors will keep a close eye on Friday's nonfarm jobs report this week for more clues on the U.S. Federal Reserve's next rate hike.

"This week's highlight is the June employment report," said Chris Low, chief economist at FTN Financial, Tuesday.

New York Fed President William Dudley, a voting member of the Federal Open Market Committee, will speak on local economic conditions later Tuesday at a roundtable discussion in Binghamton, New York.

U.S. stocks market was closed Monday for the Independence Day holiday.

U.S. stocks rallied in the past week as global markets rebounded from the previous week's losses resulting from the shock results of Britain's vote to leave the European Union.

Some 3 trillion U.S. dollars in market capitalization were wiped off in the post-Brexit plunge. Endit