Wall Street inches lower after string of gains [Reuters]
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Source: Reuters
Wall Street inches lower after string of gains - Reuters 3 Min Read NEW YORK (Reuters) - U.S. stocks edged lower in late afternoon trading on Tuesday, as investors paused following a run of gains tied to optimism over easing trade tensions and the prospect of an interest rate cut by the Federal Reserve. Industrials and utilities indexes led the way lower, while a decline in technology stocks, including Microsoft Corp and Adobe Inc, added pressure. Investors may be reluctant to push stocks higher without a fresh catalyst for support, some strategists said. Early enthusiasm for stocks was mostly “follow-through from some of the news from yesterday,” said Jack Ablin, chief investment officer at Cresset Capital Management in Chicago. There’s “not much else to latch onto. “My only concern is it’s a news-driven market right now, so all of that is subject to change,” Ablin added. “It’s not a trending catalyst.” Data showed U.S. producer prices increased solidly for a second straight month in
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