US Stocks Edge Lower As Trade Optimism Cools

US stocks ended marginally lower on Tuesday as investors took a step back after a strong run fuelled by optimism over trade and the prospect of rate cuts. The S&P 500 was down 0.03 per cent, snapping its longest winning streak in two months. It closed Monday with its fifth consecutive rise, as expectations of lower interest rates and a US-Mexico deal to avert tariffs lifted market sentiment. The benchmark had been up as much as 0.8 per cent following Tuesday’s opening bell but was dragged lower by industrials and utilities. Consumer staples were the top-performing sector, while higher oil prices buoyed energy shares. European and Asian markets climbed as investors balanced the easing of international trade tension with the prospect of fresh government stimulus in China.

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