Investing.com -- U.S. stocks inched down on Tuesday amid a decline in health care stocks, as investors awaited of the release of quarterly earnings from JPMorgan Chase & Co (N:JPM) and Intel Corporation (O:INTC) at the close of trading.
The major indices also received a boost from a massive deal in the brewing industry when SABMiller PLC (L:SAB) agreed to be acquired by Anheuser-Busch InBev for $106 billion, in the largest merger ever between two beer companies. The deal, which is still subject to approval by U.S. and European regulators, could give the company nine of the top 20 bottlers in the world. Over the last few weeks, SAB Miller rejected four previous acquisition attempts by Anheuser-Busch InBev.
The Dow Jones Industrial Average and the NASDAQ Composite index fell mildly on Tuesday during a light day of trading. The Dow fell 49.97 or 0.29% to 17,081.89, halting a six-day winning streak while the NASDAQ lost 42.03 or 0.87% to end Tuesday's session at 4,796.61.
The S&P 500 Composite index, meanwhile, dipped 13.77 or 0.68% to 2,003.69, as all 10 sectors closed in the red. Stocks in the Health Care, Industrials and Financials industries lagged, each falling by more than 0.50% on the session.
The top performer on the Dow was UnitedHealth Group Incorporated (N:UNH), which gained 1.54 or 1.26% to 124.05, ahead of the release of its third quarter earnings on Thursday. The worst performer was Merck & Company Inc (N:MRK), which fell 1.28 or 2.52% to 49.43, as analysts expressed skepticism on the development of the viability of its trial of a CETP inhibitor aimed at preventing heart disease.
The biggest gainer on the NASDAQ was Tesla Motors Inc (O:TSLA), which rose 3.80 or 1.76% to 219.38 at Tuesday's close. One session earlier, reports surfaced that a real estate developer and a startup company announced plans to build a battery farm powered by Tesla to provide electricity to a major office complex in Los Angeles. The worst performer was Alexion Pharmaceuticals Inc (O:ALXN), fell 6.91 or 4.32% to 152.95.
The top performer on the S&P 500 was Molson Coors Brewing Company (N:TAP), which surged 7.93 or 10.07% to 86.68. The merger between AB Inbev and SABMiller will likely result in SABMiller's disposal of a 58% stake in a U.S. joint venture with Molson Coors, as required by U.S. federal antitrust regulations. The worst performer was Ryder System (N:R), which fell 7.01 or 9.27% to 68.64, one day after it downwardly revised its earnings outlook for the remainder of the year.
On the New York Stock Exchange, declining issues outnumbered advancing ones by a 2,254 to 863 margin.