Wall Street edged lower by midday Tuesday as uncertainty surrounding trade policies lingered, with investors adopting a cautious approach ahead of Wednesday’s Federal Reserve meeting.

In a meeting with Canadian Prime Minister Mark Carney, President Donald Trump suggested the U.S. may soon begin renegotiating the USMCA. He noted that China is eager to negotiate due to its struggling economy, driven by a lack of U.S. trade, but emphasized the talks would take place “at the right time.”

Trump kept his trade stance unclear, suggesting that while some agreements may be signed, there is no obligation to finalize any, and dismissed repeated questions about the number of deals in progress.

The S&P 500 dipped 30 points, or 0.6%, to 5,610, on track for its second consecutive negative session after nine straight gains. The Nasdaq 100 dropped 0.8%, while the Russell 2000 slipped 1%.

Ten of the 11 S&P 500 sectors were in the red, with utilities as the only sector in the green. The U.S. dollar fell, extending its losses for a third straight session.

Commodities saw a broad rally, with oil prices surging 3.6%, pushing WTI above $59, following Israeli airstrikes in Yemen. Gold also rallied, climbing 2.4% to above $3,400 per ounce amid heightened geopolitical tensions.

Bitcoin BTC/USD reversed Monday's gains, slipping 0.4% to $94,375.

Tuesday’s Performance In Major U.S. Indices, ETFs

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According to Benzinga Pro data:

• The SPDR S&P 500 ETF Trust SPY fell 0.7% to $559.24.
• The SPDR Dow Jones Industrial Average DIA eased 0.8% to $409.01.
• The tech-heavy Invesco QQQ Trust Series QQQ fell 0.9% to $481.23.
• The iShares Russell 2000 ETF IWM tumbled 1.1% to $196.68.
• The Utilities Select Sector SPDR Fund XLU outperformed, up 1.2%; the Health Care Select Sector SPDR Fund XLV lagged, down 2.4%.

Tuesday’s Stock Movers

Stocks reacting to earnings reports included:

• Ford Motor Co. F up 2.70%
• The Clorox Co. CLX down 2.31%
• Coterra Energy Inc. CTRA down 9.95%
• Vertex Pharmaceuticals Inc. VRTX down 13.9%
• Diamondback Energy Inc. FANG down 0.53%
• Realty Income Corp. O down 0.68%
• The Williams Companies Inc. WMB down 5.19%
• Celanese Corp. CE up 9.14%
• Fabrinet FN down 7.37%
• Lattice Semiconductor Corp. LSCC down 13.6%
• Mattel Inc. MAT up 3.61%
• Palantir Technologies Inc. PLTR down 13.6%
• Duke Energy Corporation DUK up 2.24%
• Constellation Energy Corporation CEG up 10.94%
• TransDigm Group Incorporated TDG down 5.67%
• Marriott International, Inc. MAR up 1.26%
• Zoetis Inc. ZTS down 3.32%
• American Electric Power Company, Inc. AEP up 0.52%
• Marathon Petroleum Corporation MPC up 0.37%
• Fidelity National Information Services, Inc. FIS down 2.88%
• WEC Energy Group, Inc. WEC up 0.77%
• Gartner, Inc. IT up 1.14%
• IQVIA Holdings Inc. IQV down 1.32%
• Archer-Daniels-Midland Company ADM up 2.02%
• Waters Corporation WAT down 4.43%
• Leidos Holdings, Inc. LDOS up 4.11%
• Global Payments Inc. GPN down 1.43%
• GlobalFoundries Inc. GFS down 3.57%
• Expeditors International of Washington, Inc. EXPD down 3.67%
• Ball Corporation BALL up 0.55%
• Jacobs Solutions Inc. J down 5.56%

Stocks slated to report earnings after the close include: Assurant Inc. AIZ, Arista Networks Inc. ANET, Gen Digital Inc. GEN, Advanced Micro Devices Inc. AMD, International Flavors & Fragrances Inc. IFF, Electronic Arts Inc. EA, Mosaic Co MOS, Corpay Inc. CPAY, Wynn Resorts Ltd. WYNN, Jack Henry & Associates Inc. JKHY, Devon Energy Corporation DVN, Super Micro Computer Inc. SMCI, Coty Inc. COTY and Rivian Automotive Inc. RIVN.

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