Investing.com - U.S. stocks finished Tuesday lower on uncertainty as to when the Federal Reserve will scale back its USD85 billion monthly asset purchasing program, which has sent stocks rising in recent months.
Elsewhere, concerns that the Egyptian military may step in and end a political standoff there pushed stocks down as well.
At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.28%, the S&P 500 index ended down 0.05%, while the Nasdaq Composite index fell 0.03%.
Investors kept a close eye on Friday, when the U.S. Bureau of Labor Statistics will release its June jobs report, which markets hope will act as a weather vane as to when the Fed may begin to dismantle stimulus programs, which send stocks rising as a side effect.
Concerns began to build Tuesday, however, that even if the numbers beat forecasts, whether or not the report meets Federal Reserve expectations to wind down stimulus programs remains to be seen.
The Fed has said it would like to see a rate of around 6.5%, well below the current rate of 7.6%, and the uncertainty steered investors out of equities in a choppy session that saw bullish pressures as well.
The Commerce Department reported earlier that U.S. factory orders rose 2.1% in May from April, beating expectations for a 2.0% increase and above an upwardly revised 1.3% rate in April.
Elsewhere, the Egyptian military on Monday gave President Mohamed Mursi 48 hours to craft a power-sharing plan with opposition political forces or else the country's armed forces may step in and intervene in some way.
By the closing bell on Tuesday, no deal had been reached, which stoked fears the conflict may escalate and possibly spread.
Leading Dow Jones Industrial Average performers included JPMorgan Chase, up 0.67%, Verizon Communications, up 0.66%, and AT&T, up 0.65%.
The Dow Jones Industrial Average's worst performers included General Electric, down 1.84%, Boeing, down 1.67%, and The Travelers Companies, down 1.55%.
European indices, meanwhile, finished lower.
After the close of European trade, the EURO STOXX 50 fell 0.74%, France's CAC 40 fell 0.66%, while Germany's DAX 30 finished down 0.92%. Meanwhile, in the U.K. the FTSE 100 finished down 0.06%.
On Wednesday, the U.S. is to release the ADP report on nonfarm payrolls, which leads the closely watched government report by two days. The U.S. is also to release the weekly government report on initial jobless claims, one day ahead of schedule, as well as data on the trade balance.
In addition, the Institute for Supply Management is to produce a report on U.S. service sector activity.
Elsewhere, concerns that the Egyptian military may step in and end a political standoff there pushed stocks down as well.
At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.28%, the S&P 500 index ended down 0.05%, while the Nasdaq Composite index fell 0.03%.
Investors kept a close eye on Friday, when the U.S. Bureau of Labor Statistics will release its June jobs report, which markets hope will act as a weather vane as to when the Fed may begin to dismantle stimulus programs, which send stocks rising as a side effect.
Concerns began to build Tuesday, however, that even if the numbers beat forecasts, whether or not the report meets Federal Reserve expectations to wind down stimulus programs remains to be seen.
The Fed has said it would like to see a rate of around 6.5%, well below the current rate of 7.6%, and the uncertainty steered investors out of equities in a choppy session that saw bullish pressures as well.
The Commerce Department reported earlier that U.S. factory orders rose 2.1% in May from April, beating expectations for a 2.0% increase and above an upwardly revised 1.3% rate in April.
Elsewhere, the Egyptian military on Monday gave President Mohamed Mursi 48 hours to craft a power-sharing plan with opposition political forces or else the country's armed forces may step in and intervene in some way.
By the closing bell on Tuesday, no deal had been reached, which stoked fears the conflict may escalate and possibly spread.
Leading Dow Jones Industrial Average performers included JPMorgan Chase, up 0.67%, Verizon Communications, up 0.66%, and AT&T, up 0.65%.
The Dow Jones Industrial Average's worst performers included General Electric, down 1.84%, Boeing, down 1.67%, and The Travelers Companies, down 1.55%.
European indices, meanwhile, finished lower.
After the close of European trade, the EURO STOXX 50 fell 0.74%, France's CAC 40 fell 0.66%, while Germany's DAX 30 finished down 0.92%. Meanwhile, in the U.K. the FTSE 100 finished down 0.06%.
On Wednesday, the U.S. is to release the ADP report on nonfarm payrolls, which leads the closely watched government report by two days. The U.S. is also to release the weekly government report on initial jobless claims, one day ahead of schedule, as well as data on the trade balance.
In addition, the Institute for Supply Management is to produce a report on U.S. service sector activity.