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U.S. stocks fall amid data, earnings

Xinhua, August 2, 2016 Adjust font size:

U.S. stocks traded lower in the morning session on Tuesday, as investors assessed the newly-released economic data and earnings report.

At midday, the Dow Jones Industrial Average was down 102.21 points, or 0.56 percent, to 18,302.30. The S&P 500 fell 15.96 points, or 0.74 percent, to 2,154.88. The Nasdaq Composite Index lost 52.97 points, or 1.02 percent, to 5,131.22.

On the economic front, U.S. personal consumption expenditures (PCE) increased 53.0 billion U.S. dollars, or 0.4 percent, in June, the Commerce Department announced Tuesday.

In June, personal income increased 29.3 billion dollars, or 0.2 percent, and disposable personal income increased 24.6 billion dollars, or 0.2 percent.

Meanwhile, investors will also keep a close eye on Friday's nonfarm jobs report this week for more clues on the U.S. Federal Reserve's next move.

In corporate news, the latest data from Thomson Reuters on Tuesday showed that the S&P 500 companies' blended earnings in the second quarter of 2016 are expected to decrease 2.6 percent year on year, while the revenues are forecast to decline 0.4 percent.

U.S. stocks closed mixed on Monday as traders shifted their focus from corporate earnings to the timing of the Federal Reserve's next interest rate hike. Enditem