Thu, 16 Sep 2021

NEW YORK, July 27 (Xinhua) -- U.S. stocks finished lower on Tuesday as investors focused on earnings reports from big tech names and a key meeting of the Federal Reserve.

The Dow Jones Industrial Average slid 85.79 points, or 0.24 percent, to 35,058.52. The S&P 500 fell 20.84 points, or 0.47 percent, to 4,401.46. The Nasdaq Composite Index decreased 180.14 points, or 1.21 percent, to 14,660.58.

Six of the 11 primary S&P 500 sectors ended in green, with utilities up 1.72 percent, outpacing the rest. Consumer discretionary and communication services slipped 1.16 percent and 1.06 percent, respectively, leading the laggards.

U.S.-listed Chinese companies traded mostly lower with nine of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

Tesla shares came under pressure despite its better-than-expected quarterly report. The U.S. electric vehicle maker said Monday that it earned 11.96 billion U.S. dollars in total revenues in the second quarter of fiscal 2021, up 98 percent over the previous year.

Other tech giants including Apple, Google-parent Alphabet and Microsoft also reported after Tuesday's close.

So far, 88 percent of S&P 500 companies have reported a positive EPS surprise, according to FactSet.

Investors are also keeping a close eye on the Federal Reserve as the U.S. central bank kicked off its two-day meeting on Tuesday, followed by a policy announcement and a news conference by Fed Chair Jerome Powell on Wednesday.

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