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Barchart
Rich Asplund

EXPLAINED: Stocks settle lower as us service sector activity weakens | Vintage Vibes

United States Nasdaq NI Day Dow Jones Donald Trump Mary Daly US Federal Reserve ISM Palantir Technologies

The S&P 500 Index ($SPX) (SPY) Tuesday closed down -0.49%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.14%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.73%.  September E-mini S&P futures (ESU25) fell -0.46%, and September E-mini Nasdaq futures (NQU25) fell -0.71%.

Stock indexes gave up an early advance on Tuesday and turned lower on some disappointing news on US services activity, along with signs of sticky price pressures in the service sector.  The US Jul ISM services index unexpectedly fell -0.7 to 50.1, weaker than expectations of an increase to 51.5.  Also, the Jul ISM services prices paid sub-index unexpectedly rose +2.4 to a 2.75-year high of 69.9, versus expectations of a decline to 66.5.

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