U.S. stocks were mixed Tuesday as the Dow Jones Industrial Average and Standard & Poor’s 500 both experienced declines, while the tech-heavy Nasdaq gained slightly.
The materials and consumer staples sectors led the decliners.
In corporate news, PepsiCo reported increases in both revenue and profit for its most recent fiscal quarter-end. The company also maintained its earnings guidance for the second half of the year.
In economic news, Philadelphia Federal Reserve President Patrick Harker said he does not see a compelling reason to lower interest rates given the apparent strength of the U.S. economy.
However, he did note that the global growth slowdown and trade tensions have created clear risks to that outlook.
U.S. Treasury prices fell as interest rates rose.
Volume on the New York Stock Exchange was moderate, with 696.9 million shares traded. Advancers outnumbered decliners by a thin margin.
Gold rose 54 cents to $1,397.45, silver was unchanged at $15.11, and crude oil prices rose 34 cents to $58 a barrel.
The 30-year Treasury yield closed higher at 2.54 percent, and the 10-year Treasury yield finished higher at 2.06 percent.