S&P 500 struggles for direction as trade deal optimism fades

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The S&P 500 was little changed on Tuesday with investors staying on the sidelines following a three-day rally, as optimism from U.S. and China ...

REUTERS: The S&P 500 was little changed on Tuesday with investors staying on the sidelines following a three-day rally, as optimism from U.S. and China officials pledging firm commitment to a Phase 1 trade deal petered out.

The benchmark index surpassed its pre-pandemic high last week, even as recent economic indicators signaled a bumpy recovery from the virus-induced downturn. Cloud computing heavyweight Salesforce is expected to report second-quarter results after markets close. Apple Inc's 1.4per cent drop weighed heavily on the three main indexes and the company's shares were on course to fall after five days of gains.

Medtronic and Amgen's shares pushed the healthcare sector 0.5per cent higher, providing the biggest boost to the benchmark S&P 500.

 

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