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The S&amp;P 500 closed slightly higher on Friday but well below its session high and all three of Wall Street's major averages posted weekly declines as investors worried about interest rates and waited anxiously for upcoming U.S. inflation readings.

Investors worried about rising oil prices and have been fretting ahead of the Consumer Price Index (CPI) for August, due out on Sept. 13, seeking signals about the Federal Reserve's likely moves on interest rates.

While traders bet on a roughly 93% probability the Fed keeps rates at current levels after its next meeting ends on Sept. 20., they are pricing in a more divided 53.5% chance for another pause at the November meeting, according to CME group's FedWatch Tool.

Yields on benchmark U.S. 10-year notes were lower, Friday's rise in U.S. 2-year Treasury yields appeared to pressure stocks. David Lefkowitz, head of US Equities at UBS Global Wealth Management, noted investors have been increasingly concerned about rising rates since early August.

"The tone has changed in recent weeks because of the move up in rates. People are questioning whether this is a risk to economic growth. Are higher rates going to lead to some slow down in conjunction with the dwindling of excess consumer savings," said Lefkowitz, who also cited concerns about high valuations in equities.

The Dow Jones Industrial Average rose 75.86 points, or 0.22%, to 34,576.59, the S&amp;P 500 gained 6.35 points, or 0.14%, to 4,457.49 and the Nasdaq Composite added 12.69 points, or 0.09%, to 13,761.53.

For the week, which was shortened by Monday's Labor Day holiday, the S&amp;P 500 fell 1.3%, while the Nasdaq lost 1.9% with both snapping two weeks of gains. The Dow fell 0.8%.

Apple (AAPL.O) managed a small 0.3% gain on Friday, though its close of $178.18 was about $2 below its session high as a rally lost steam. The iPhone maker fell sharply in the previous two sessions, pushing down the broader technology sector on news that Beijing had banned central government employees from using iPhones at work.

After losing 2.9% in two sessions, the S&amp;P 500 technology sector closed higher. But energy, up 0.97%, boasted the biggest percentage gains among the 11 S&amp;P 500's industry sectors as oil prices rose.

Defensive utilities sector had a daily gain of 0.96% while the biggest decliner was real estate, which lost 0.63%.

Traders work on the floor of the New York Stock Exchange in New York City, U.S., August 15, 2023. REUTERS/Brendan McDermid Acquire Licensing Rights

Along with three straight months of gains for crude futures and a positive start to September, this week's economic data also fueled inflation fears. Services activity data came in stronger than expected and weekly jobless claims fell.

"My expectation is that the CPI print could come in higher than expected (with) the price of oil pushing higher," said Phil Blancato, chief executive officer of Ladenburg Thalmann Asset Management.

"We have a problem where ultimately the Fed may be pushed into a corner, and while they might take a pause because of the lag effect, I don't think they're done."

Mixed comments from Fed officials have fueled uncertainty. New York Fed President John Williams kept his options open this week, while Dallas Fed President Lorie Logan said that while it "could be appropriate" to keep rates steady at the next meeting, more tightening might be needed.

In individual stocks, Kroger closed up 3% after the retailer beat estimates for quarterly adjusted profit.

Gilead Sciences added 2.8% after BofA Securities upgraded the drugmaker to "buy" from "neutral."

GameStop finished down 6% after a report that the U.S. Securities and Exchange Commission was investigating the videogame retailer's chairman, Ryan Cohen.

Advancing issues outnumbered declining ones on the NYSE by a 1.14-to-1 ratio; on Nasdaq, a 1.19-to-1 ratio favored decliners.

The S&amp;P 500 posted 13 new 52-week highs and 17 new lows; the Nasdaq Composite recorded 36 new highs and 229 new lows.

On U.S. exchanges 8.89 billion shares changed hands compared to the 9.96 billion moving average for the last 20 sessions.

S&P 500 closes up slightly ahead of US inflation data

The Dow Jones Industrial Average rose 75.86 points, or 0.22%, to 34,576.59, the S&P 500 gained 6.35 points, or 0.14%, to 4,457.49 and the Nasdaq Composite added 12.69 points, or 0.09%, to 13,761.53.

The S&amp;amp;P 500 closed slightly higher on Friday but well below its session high and all three of Wall Street's major averages posted weekly declines as investors worried about interest rates and waited anxiously for upcoming U.S. inflation readings.

Investors worried about rising oil prices and have been fretting ahead of the Consumer Price Index (CPI) for August, due out on Sept. 13, seeking signals about the Federal Reserve's likely moves on interest rates.

While traders bet on a roughly 93% probability the Fed keeps rates at current levels after its next meeting ends on Sept. 20., they are pricing in a more divided 53.5% chance for another pause at the November meeting, according to CME group's FedWatch Tool.

Yields on benchmark U.S. 10-year notes were lower, Friday's rise in U.S. 2-year Treasury yields appeared to pressure stocks. David Lefkowitz, head of US Equities at UBS Global Wealth Management, noted investors have been increasingly concerned about rising rates since early August.

&quot;The tone has changed in recent weeks because of the move up in rates. People are questioning whether this is a risk to economic growth. Are higher rates going to lead to some slow down in conjunction with the dwindling of excess consumer savings,&quot; said Lefkowitz, who also cited concerns about high valuations in equities.

The Dow Jones Industrial Average rose 75.86 points, or 0.22%, to 34,576.59, the S&amp;amp;P 500 gained 6.35 points, or 0.14%, to 4,457.49 and the Nasdaq Composite added 12.69 points, or 0.09%, to 13,761.53.

For the week, which was shortened by Monday's Labor Day holiday, the S&amp;amp;P 500 fell 1.3%, while the Nasdaq lost 1.9% with both snapping two weeks of gains. The Dow fell 0.8%.

Apple (AAPL.O) managed a small 0.3% gain on Friday, though its close of $178.18 was about $2 below its session high as a rally lost steam. The iPhone maker fell sharply in the previous two sessions, pushing down the broader technology sector on news that Beijing had banned central government employees from using iPhones at work.

After losing 2.9% in two sessions, the S&amp;amp;P 500 technology sector closed higher. But energy, up 0.97%, boasted the biggest percentage gains among the 11 S&amp;amp;P 500's industry sectors as oil prices rose.

Defensive utilities sector had a daily gain of 0.96% while the biggest decliner was real estate, which lost 0.63%.

Traders work on the floor of the New York Stock Exchange in New York City, U.S., August 15, 2023. REUTERS/Brendan McDermid Acquire Licensing Rights

Along with three straight months of gains for crude futures and a positive start to September, this week's economic data also fueled inflation fears. Services activity data came in stronger than expected and weekly jobless claims fell.

&quot;My expectation is that the CPI print could come in higher than expected (with) the price of oil pushing higher,&quot; said Phil Blancato, chief executive officer of Ladenburg Thalmann Asset Management.

&quot;We have a problem where ultimately the Fed may be pushed into a corner, and while they might take a pause because of the lag effect, I don't think they're done.&quot;

Mixed comments from Fed officials have fueled uncertainty. New York Fed President John Williams kept his options open this week, while Dallas Fed President Lorie Logan said that while it &quot;could be appropriate&quot; to keep rates steady at the next meeting, more tightening might be needed.

In individual stocks, Kroger closed up 3% after the retailer beat estimates for quarterly adjusted profit.

Gilead Sciences added 2.8% after BofA Securities upgraded the drugmaker to &quot;buy&quot; from &quot;neutral.&quot;

GameStop finished down 6% after a report that the U.S. Securities and Exchange Commission was investigating the videogame retailer's chairman, Ryan Cohen.

Advancing issues outnumbered declining ones on the NYSE by a 1.14-to-1 ratio; on Nasdaq, a 1.19-to-1 ratio favored decliners.

The S&amp;amp;P 500 posted 13 new 52-week highs and 17 new lows; the Nasdaq Composite recorded 36 new highs and 229 new lows.

On U.S. exchanges 8.89 billion shares changed hands compared to the 9.96 billion moving average for the last 20 sessions.

S&amp;P 500 closes up slightly ahead of US inflation data

The S&amp;P 500 and Nasdaq fell on Thursday, with the biggest drag from Apple and a sell-off in chip stocks over concerns about China's iPhone curbs, while a fall in weekly U.S. jobless claims fed worries about interest rates and sticky inflation.

Shares in S&amp;P heavyweight Apple Inc (AAPL.O) fell 2.9%, for its second straight day of losses on news that China had widened curbs on iPhone use by state employees, requiring staff at some central government agencies to stop using their mobiles at work.

Bloomberg reported that China planned to broaden the iPhone ban to state firms and agencies.

The drag from Apple, its suppliers and companies with large China exposure pushed the S&amp;P 500 technology sector (.SPLRCT) down 1.6%, making it the biggest percentage decliner among the benchmark's 11 major sectors.

A U.S. Labor Department report showed the number of Americans filing for unemployment claims fell to 216,000 for the week ended Sept. 2, hitting the lowest level since February. But investors worried this would help push the Federal Reserve to continue with tight monetary policy, pressuring stocks.

"The weekly claims was big news this morning, good news being construed as bad news and it's hard to ignore the news out of China" about Apple said Sahak Manuelian, managing director and head of equity trading at Wedbush Securities.

Investors were also warily anticipating inflation readings from August, due in a week.

Due partly to the recent sharp rise in oil prices, Manuelian pointed to "some fretting among investors that inflation might start to pick up again, which isn't crazy."

Bets on the Fed to leave interest rates unchanged in September stood at 93%, yet the chances for another pause in the November meeting were at a much lower 53.5%, according to the CME Group's FedWatch Tool.

"There is that very, very small eye of the needle with which the Fed can thread monetary policy that's sufficiently tight, but not so tight that it wrecks the economy. It's a small eye but, it's not completely closed," said Craig Fehr, head of investment strategy at Edward Jones, who called Thursday's decline "a cautious defensive stance."

Minutes before the close, New York Fed President John Williams said it was an "open question" whether monetary policy is restrictive enough to bring the economy back into balance. "We’ve got policy in a good place, but we’re going to need to continue to be data dependent,” he said, pointing to upcoming data releases due before the Fed's September meeting.

The Dow Jones Industrial Average (.DJI) rose 57.54 points, or 0.17%, to 34,500.73, the S&amp;P 500 (.SPX) lost 14.34 points, or 0.32%, to 4,451.14 and the Nasdaq Composite (.IXIC) dropped 123.64 points, or 0.89%, to 13,748.83.

The Dow outperformed the S&amp;P and Nasdaq because Apple has a lower weighting in the cyclicals-heavy index, which is price-weighted compared with the market capitalization-weighted S&amp;P 500 (.SPX.), where Apple is one of the biggest weights.

Defensive utilities (.SPLRCU) was the biggest gainer among S&amp;P sectors, rising 1.3%, which Edward Jones' Fehr took as another sign of the market's risk-off mood.

The Philadelphia semiconductor index (.SOX) fell 1.98% while shares of Apple suppliers including Skyworks Solutions (SWKS.O), Qualcomm (QCOM.O) and Qorvo (QRVO.O) all fell more than 7%.

Rick Meckler, partner at Cherry Lane Investments said the news from China refocused investors on the idea "that the relationship between the U.S. and China is a big risk to current equity prices, particularly in technology."

Also denting sentiment about the world's second-largest economy, data showed China's exports and imports fell in August.

Shares of U.S.-listed Chinese firms PDD Holdings (PDD.O), JD.com and Alibaba fell more than 4% while and Baidu lost 3.4%.

Also helping to keep the Dow afloat was a 1% rise in McDonald's (MCD.N) shares after Wells Fargo upgraded the stock to "overweight".

Automation software firm UiPath (PATH.N) rallied 11.5% on an upbeat annual revenue forecast.

Declining issues outnumbered advancing ones on the NYSE by a 1.80-to-1 ratio; on Nasdaq, a 2.03-to-1 ratio favored decliners.

The S&amp;P 500 posted 13 new 52-week highs and 26 new lows; the Nasdaq Composite recorded 22 new highs and 268 new lows.

On U.S. exchanges 9.76 billion shares changed hands compared with the 10.10 billion moving average for the last 20 sessions.

S&P, Nasdaq fall as Apple drags, jobless claims data fuels rate jitters

Shares in S&P heavyweight Apple Inc (AAPL.O) fell 2.9%, for its second straight day of losses on news that China had widened curbs on iPhone use by state employees, requiring staff at some central government agencies to stop using their mobiles at work.

The S&amp;amp;P 500 and Nasdaq fell on Thursday, with the biggest drag from Apple and a sell-off in chip stocks over concerns about China's iPhone curbs, while a fall in weekly U.S. jobless claims fed worries about interest rates and sticky inflation.

Shares in S&amp;amp;P heavyweight Apple Inc (AAPL.O) fell 2.9%, for its second straight day of losses on news that China had widened curbs on iPhone use by state employees, requiring staff at some central government agencies to stop using their mobiles at work.

Bloomberg reported that China planned to broaden the iPhone ban to state firms and agencies.

The drag from Apple, its suppliers and companies with large China exposure pushed the S&amp;amp;P 500 technology sector (.SPLRCT) down 1.6%, making it the biggest percentage decliner among the benchmark's 11 major sectors.

A U.S. Labor Department report showed the number of Americans filing for unemployment claims fell to 216,000 for the week ended Sept. 2, hitting the lowest level since February. But investors worried this would help push the Federal Reserve to continue with tight monetary policy, pressuring stocks.

&quot;The weekly claims was big news this morning, good news being construed as bad news and it's hard to ignore the news out of China&quot; about Apple said Sahak Manuelian, managing director and head of equity trading at Wedbush Securities.

Investors were also warily anticipating inflation readings from August, due in a week.

Due partly to the recent sharp rise in oil prices, Manuelian pointed to &quot;some fretting among investors that inflation might start to pick up again, which isn't crazy.&quot;

Bets on the Fed to leave interest rates unchanged in September stood at 93%, yet the chances for another pause in the November meeting were at a much lower 53.5%, according to the CME Group's FedWatch Tool.

&quot;There is that very, very small eye of the needle with which the Fed can thread monetary policy that's sufficiently tight, but not so tight that it wrecks the economy. It's a small eye but, it's not completely closed,&quot; said Craig Fehr, head of investment strategy at Edward Jones, who called Thursday's decline &quot;a cautious defensive stance.&quot;

Minutes before the close, New York Fed President John Williams said it was an &quot;open question&quot; whether monetary policy is restrictive enough to bring the economy back into balance. &quot;We’ve got policy in a good place, but we’re going to need to continue to be data dependent,” he said, pointing to upcoming data releases due before the Fed's September meeting.

The Dow Jones Industrial Average (.DJI) rose 57.54 points, or 0.17%, to 34,500.73, the S&amp;amp;P 500 (.SPX) lost 14.34 points, or 0.32%, to 4,451.14 and the Nasdaq Composite (.IXIC) dropped 123.64 points, or 0.89%, to 13,748.83.

The Dow outperformed the S&amp;amp;P and Nasdaq because Apple has a lower weighting in the cyclicals-heavy index, which is price-weighted compared with the market capitalization-weighted S&amp;amp;P 500 (.SPX.), where Apple is one of the biggest weights.

Defensive utilities (.SPLRCU) was the biggest gainer among S&amp;amp;P sectors, rising 1.3%, which Edward Jones' Fehr took as another sign of the market's risk-off mood.

The Philadelphia semiconductor index (.SOX) fell 1.98% while shares of Apple suppliers including Skyworks Solutions (SWKS.O), Qualcomm (QCOM.O) and Qorvo (QRVO.O) all fell more than 7%.

Rick Meckler, partner at Cherry Lane Investments said the news from China refocused investors on the idea &quot;that the relationship between the U.S. and China is a big risk to current equity prices, particularly in technology.&quot;

Also denting sentiment about the world's second-largest economy, data showed China's exports and imports fell in August.

Shares of U.S.-listed Chinese firms PDD Holdings (PDD.O), JD.com and Alibaba fell more than 4% while and Baidu lost 3.4%.

Also helping to keep the Dow afloat was a 1% rise in McDonald's (MCD.N) shares after Wells Fargo upgraded the stock to &quot;overweight&quot;.

Automation software firm UiPath (PATH.N) rallied 11.5% on an upbeat annual revenue forecast.

Declining issues outnumbered advancing ones on the NYSE by a 1.80-to-1 ratio; on Nasdaq, a 2.03-to-1 ratio favored decliners.

The S&amp;amp;P 500 posted 13 new 52-week highs and 26 new lows; the Nasdaq Composite recorded 22 new highs and 268 new lows.

On U.S. exchanges 9.76 billion shares changed hands compared with the 10.10 billion moving average for the last 20 sessions.

S&amp;P, Nasdaq fall as Apple drags, jobless claims data fuels rate jitters

Wall Street's three major averages closed lower on Wednesday with the Nasdaq's 1% loss leading declines after stronger-than-expected services sector data fueled concerns that still sticky inflation would mean that interest rates stay higher for longer.

The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing Purchasing Managers' Index rose to 54.5 last month against expectations of 52.5, while a gauge of prices paid by service-sector businesses for inputs increased.

Traders were betting on a 93% chance that the Federal Reserve would leave interest rates unchanged after its meeting on Sept. 20, while bets on another pause in November were around 57%, CME Group's FedWatch Tool showed.

"The stronger-than-expected ISM services data shows that investors are still not very skilled at reading the post-pandemic tea leaves," said Carol Schleif, chief investment officer at BMO's family office in Minneapolis.

While market participants have been hoping for interest rate cuts soon, Schleif said the data shows a strong economy and inflation that is not coming down "as fast as the Fed would need to start cutting rates any time in the foreseeable future."

Earlier in the day Boston Fed President Susan Collins stressed the need for the central bank to "proceed carefully" with its next monetary policy steps.

The prospect of higher rates put particular pressure on growth stocks with the S&amp;P 500 growth index (.IGX) underperforming the benchmark throughout the session. Equity investors were also reacting to rising yields in 10-year and the two-year U.S. Treasuries.

"Growth stocks have been pricing in the idea that inflation has been well anchored and that the Fed's going to cut. If that idea no longer holds they're going to be vulnerable," said Patrick Kaser, portfolio manager from Brandywine Global.

On top of rate concerns, Apple Inc (AAPL.O), which finished down 3.6%, was pressured by a report that China had banned officials at central government agencies from using iPhones and other foreign-branded devices for work.

The Dow Jones Industrial Average (.DJI) fell 198.78 points, or 0.57%, to 34,443.19, the S&amp;P 500 (.SPX) lost 31.35 points, or 0.70%, at 4,465.48 and the Nasdaq Composite (.IXIC) dropped 148.48 points, or 1.06%, to 13,872.47.

Of the S&amp;P 500's 11 major industry sectors, growth-heavy technology (.SPLRCT) was the biggest decliner, losing 1.4%, while defensive utilities (.SPLRCU) led gains, up 0.2%. Energy (.SPNY) was the only other gainer, up 0.1% with support from higher oil prices.

Oil futures settled up on Wednesday, adding to recent gains, which fueled concerns about inflationary pressure.

The S&amp;P 500 showed little reaction to the Fed's "Beige Book" snapshot of the U.S. economy a week ahead of the keenly awaited August inflation data and the Fed's rate decision on Sept. 20.

The report showed "modest" U.S. economic growth in recent weeks while job growth was "subdued," and inflation slowed in most parts of the country.

Lockheed Martin (LMT.N) shares sank 4.8% after the U.S. weapons maker trimmed the delivery outlook for its F-35 jets.

Roku (ROKU.O) shares rose 2.9% after the company said it would reduce its workforce by about 10% and limit new hiring.

Declining issues outnumbered advancers on the NYSE by a 2.05-to-1 ratio; on Nasdaq, a 1.97-to-1 ratio favored decliners.

The S&amp;P 500 posted six new 52-week highs and 25 new lows; the Nasdaq Composite recorded 34 new highs and 174 new lows.

On U.S. exchanges 9.39 billion shares changed hands compared with the 10.17 billion moving average for the last 20 sessions.

Wall Street slides as economic data stokes inflation and interest rate worries

The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing Purchasing Managers' Index rose to 54.5 last month against expectations of 52.5, while a gauge of prices paid by service-sector businesses for inputs increased.

Wall Street's three major averages closed lower on Wednesday with the Nasdaq's 1% loss leading declines after stronger-than-expected services sector data fueled concerns that still sticky inflation would mean that interest rates stay higher for longer.

The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing Purchasing Managers' Index rose to 54.5 last month against expectations of 52.5, while a gauge of prices paid by service-sector businesses for inputs increased.

Traders were betting on a 93% chance that the Federal Reserve would leave interest rates unchanged after its meeting on Sept. 20, while bets on another pause in November were around 57%, CME Group's FedWatch Tool showed.

&quot;The stronger-than-expected ISM services data shows that investors are still not very skilled at reading the post-pandemic tea leaves,&quot; said Carol Schleif, chief investment officer at BMO's family office in Minneapolis.

While market participants have been hoping for interest rate cuts soon, Schleif said the data shows a strong economy and inflation that is not coming down &quot;as fast as the Fed would need to start cutting rates any time in the foreseeable future.&quot;

Earlier in the day Boston Fed President Susan Collins stressed the need for the central bank to &quot;proceed carefully&quot; with its next monetary policy steps.

The prospect of higher rates put particular pressure on growth stocks with the S&amp;amp;P 500 growth index (.IGX) underperforming the benchmark throughout the session. Equity investors were also reacting to rising yields in 10-year and the two-year U.S. Treasuries.

&quot;Growth stocks have been pricing in the idea that inflation has been well anchored and that the Fed's going to cut. If that idea no longer holds they're going to be vulnerable,&quot; said Patrick Kaser, portfolio manager from Brandywine Global.

On top of rate concerns, Apple Inc (AAPL.O), which finished down 3.6%, was pressured by a report that China had banned officials at central government agencies from using iPhones and other foreign-branded devices for work.

The Dow Jones Industrial Average (.DJI) fell 198.78 points, or 0.57%, to 34,443.19, the S&amp;amp;P 500 (.SPX) lost 31.35 points, or 0.70%, at 4,465.48 and the Nasdaq Composite (.IXIC) dropped 148.48 points, or 1.06%, to 13,872.47.

Of the S&amp;amp;P 500's 11 major industry sectors, growth-heavy technology (.SPLRCT) was the biggest decliner, losing 1.4%, while defensive utilities (.SPLRCU) led gains, up 0.2%. Energy (.SPNY) was the only other gainer, up 0.1% with support from higher oil prices.

Oil futures settled up on Wednesday, adding to recent gains, which fueled concerns about inflationary pressure.

The S&amp;amp;P 500 showed little reaction to the Fed's &quot;Beige Book&quot; snapshot of the U.S. economy a week ahead of the keenly awaited August inflation data and the Fed's rate decision on Sept. 20.

The report showed &quot;modest&quot; U.S. economic growth in recent weeks while job growth was &quot;subdued,&quot; and inflation slowed in most parts of the country.

Lockheed Martin (LMT.N) shares sank 4.8% after the U.S. weapons maker trimmed the delivery outlook for its F-35 jets.

Roku (ROKU.O) shares rose 2.9% after the company said it would reduce its workforce by about 10% and limit new hiring.

Declining issues outnumbered advancers on the NYSE by a 2.05-to-1 ratio; on Nasdaq, a 1.97-to-1 ratio favored decliners.

The S&amp;amp;P 500 posted six new 52-week highs and 25 new lows; the Nasdaq Composite recorded 34 new highs and 174 new lows.

On U.S. exchanges 9.39 billion shares changed hands compared with the 10.17 billion moving average for the last 20 sessions.

Wall Street's three major averages closed lower on Tuesday with the Dow leading declines as Treasury yields rose along with oil prices and investors assessed prospects for the Federal Reserve's interest rate path.

While all three main U.S. stock indexes had logged gains in the previous week on hopes for a less hawkish Fed, that sentiment had faded by Monday.

U.S. Treasury yields rose after economic data showed resilience and Fed Governor Christopher Waller said it suggests that the central bank need not change rates any time soon.

"Part of the reason stocks are struggling to make headway is that interest rates are continuing to rise and provide a good alternative to stocks," said Paul Nolte, market strategist, Murphy &amp; Sylvest Wealth Management, Elmhurst, Illinois.

With U.S. crude oil prices rallying on Tuesday, Nolte also cited recent strength in oil prices as a damper to the Fed's efforts to push inflation back to 2%.

"Everybody has been expecting the Fed to step aside or start cutting rates. That might not be the case," he said.

Traders' bets that the Fed will leave rates unchanged at its September policy meeting stood at 93%, while they priced in a roughly 54% chance of a pause in November, the CME Group's FedWatch tool showed.

Along with relatively light trading volume a day after Monday's Labor Day holiday, Sam Stovall, chief investment strategist at CFRA Research, also noted that the Fed will have to look at upcoming data such as August's inflation readings before making a rate decision later this month.

"The market's not sure which way it wants to turn," he said.

The Dow Jones Industrial Average (.DJI) fell 195.74 points, or 0.56%, to 34,641.97, the S&amp;P 500 (.SPX) lost 18.94 points, or 0.42%, at 4,496.83 and the Nasdaq Composite (.IXIC) dropped 10.86 points, or 0.08%, to 14,020.95.

Among the S&amp;P's 11 major sectors, energy (.SPNY) was the biggest gainer, closing up 0.5% after hitting a roughly seven-month high. Saudi Arabia and Russia earlier announced a fresh extension to their voluntary supply cuts.
The economically sensitive materials sector (.SPLRCM) and industrials (.SPLRCI) were weak throughout the session with respective declines of 1.8% and 1.7%. Interest rate sensitive utilities (.SPLRCU) lost 1.5% as the day's third weakest S&amp;P sector.

The Dow Jones Transport index (.DJT) finished off 2.2%, weighed down by a slide in airline stocks as rising oil prices implied higher fuel costs. The S&amp;P 1500 airlines index (.SPCOMAIR) finished down 2.4%.

United Airlines (UAL.O) closed off 2.5% after falling as much as 4.7% earlier in the day with a system-wide information technology issue forcing an hour-long aircraft ground stop.

China's services activity expanded at its slowest pace in eight months in August, a private sector survey showed earlier.

Data on Tuesday showed orders for U.S. factory goods declined 2.1% in July, ending a four-month streak of gains.

On the bright side, Goldman Sachs (GS.N) lowered its estimate for the chance of a U.S recession in the next 12 months to 15% from 20%.

Shares of Airbnb (ABNB.O) rallied 7% while Blackstone (BX.N) added 3.6% on news that their stocks would join the S&amp;P 500 index. Oracle (ORCL.N) shares rose 2.5% after Barclays upgraded the software company to "overweight" from "equal weight."

Declining issues outnumbered advancers on the NYSE by a 3.31-to-1 ratio; on Nasdaq, a 2.28-to-1 ratio favored decliners.

The S&amp;P 500 posted 12 new 52-week highs and 25 new lows; the Nasdaq Composite recorded 50 new highs and 142 new lows.

On U.S. exchanges, 9.54 billion shares changed hands compared with the 10.26 billion moving average for the last 20 sessions.

Wall Street slips as Treasury yields rise, oil prices boost energy sector

While all three main U.S. stock indexes had logged gains in the previous week on hopes for a less hawkish Fed, that sentiment had faded by Monday.

Wall Street's three major averages closed lower on Tuesday with the Dow leading declines as Treasury yields rose along with oil prices and investors assessed prospects for the Federal Reserve's interest rate path.

While all three main U.S. stock indexes had logged gains in the previous week on hopes for a less hawkish Fed, that sentiment had faded by Monday.

U.S. Treasury yields rose after economic data showed resilience and Fed Governor Christopher Waller said it suggests that the central bank need not change rates any time soon.

"Part of the reason stocks are struggling to make headway is that interest rates are continuing to rise and provide a good alternative to stocks," said Paul Nolte, market strategist, Murphy &amp; Sylvest Wealth Management, Elmhurst, Illinois.

With U.S. crude oil prices rallying on Tuesday, Nolte also cited recent strength in oil prices as a damper to the Fed's efforts to push inflation back to 2%.

"Everybody has been expecting the Fed to step aside or start cutting rates. That might not be the case," he said.

Traders' bets that the Fed will leave rates unchanged at its September policy meeting stood at 93%, while they priced in a roughly 54% chance of a pause in November, the CME Group's FedWatch tool showed.

Along with relatively light trading volume a day after Monday's Labor Day holiday, Sam Stovall, chief investment strategist at CFRA Research, also noted that the Fed will have to look at upcoming data such as August's inflation readings before making a rate decision later this month.

"The market's not sure which way it wants to turn," he said.

The Dow Jones Industrial Average (.DJI) fell 195.74 points, or 0.56%, to 34,641.97, the S&amp;P 500 (.SPX) lost 18.94 points, or 0.42%, at 4,496.83 and the Nasdaq Composite (.IXIC) dropped 10.86 points, or 0.08%, to 14,020.95.

Among the S&amp;P's 11 major sectors, energy (.SPNY) was the biggest gainer, closing up 0.5% after hitting a roughly seven-month high. Saudi Arabia and Russia earlier announced a fresh extension to their voluntary supply cuts.
The economically sensitive materials sector (.SPLRCM) and industrials (.SPLRCI) were weak throughout the session with respective declines of 1.8% and 1.7%. Interest rate sensitive utilities (.SPLRCU) lost 1.5% as the day's third weakest S&amp;P sector.

The Dow Jones Transport index (.DJT) finished off 2.2%, weighed down by a slide in airline stocks as rising oil prices implied higher fuel costs. The S&amp;P 1500 airlines index (.SPCOMAIR) finished down 2.4%.

United Airlines (UAL.O) closed off 2.5% after falling as much as 4.7% earlier in the day with a system-wide information technology issue forcing an hour-long aircraft ground stop.

China's services activity expanded at its slowest pace in eight months in August, a private sector survey showed earlier.

Data on Tuesday showed orders for U.S. factory goods declined 2.1% in July, ending a four-month streak of gains.

On the bright side, Goldman Sachs (GS.N) lowered its estimate for the chance of a U.S recession in the next 12 months to 15% from 20%.

Shares of Airbnb (ABNB.O) rallied 7% while Blackstone (BX.N) added 3.6% on news that their stocks would join the S&amp;P 500 index. Oracle (ORCL.N) shares rose 2.5% after Barclays upgraded the software company to "overweight" from "equal weight."

Declining issues outnumbered advancers on the NYSE by a 3.31-to-1 ratio; on Nasdaq, a 2.28-to-1 ratio favored decliners.

The S&amp;P 500 posted 12 new 52-week highs and 25 new lows; the Nasdaq Composite recorded 50 new highs and 142 new lows.

On U.S. exchanges, 9.54 billion shares changed hands compared with the 10.26 billion moving average for the last 20 sessions.

Name		Price	Change	Change%
AMGN	Amgen	259.48	5.09	2.00
MSFT	Microsoft	334.45	4.54	1.38
DIS	Walt Disney	81.58	1.01	1.25
GS	Goldman Sachs	325.54	3.58	1.11
MRK	Merck & Co	109.06	1.12	1.04

Name		Price	Change	Change%
BA	Boeing	211.28	-4.77	-2.21
VZ	Verizon	33.45	-0.36	-1.06
UNH	UnitedHealth	481.00	-3.81	-0.79
DOW	Dow Inc	53.72	-0.38	-0.70
TRV	Travelers Companies	159.90	-0.77	-0.48

Name		Price	Change	Change%
INTC	Intel	38.02	-0.16	-0.42
WMT	Walmart	163.76	0.29	0.18

Name		Price	Market Cap (in billion US $)
AAPL	Apple	178.33	2,911.42
MSFT	Microsoft	334.45	2,484.88
V	Visa	247.36	503.47
UNH	UnitedHealth	481.00	445.55
WMT	Walmart	163.76	440.98

Fund	AUM $	1 Y	3 Y	5 Y	Exp. Ratio
Franklin India Feeder - Franklin U.S. Opportunities Fund - Growth	3286.39	16.56%	6.04%	10.76%	1.52
ICICI Prudential US Bluechip Equity Fund - Growth	2828.27	22.04%	15.8%	14.04%	2.01
ICICI Prudential NASDAQ 100 Index Fund - Direct Plan - Growth	886.57	29.33%	0%	0%	0.5
Bandhan US Equity Fund of Fund - Direct Plan - Growth	322.69	22.76%	0%	0%	0.65
Nippon India US Equity Opportunities Fund - Growth	601.94	15.65%	10.06%	11.5%	2.41
Aditya Birla Sun Life NASDAQ 100 FOF - Direct Plan - Growth	287.87	28.3%	0%	0%	0.34
Motilal Oswal Nasdaq 100 ETF (MOSt Shares NASDAQ 100)	6496.19	29.54%	14.14%	18.8%	0.58
DSP US Flexible Equity Fund - Direct Plan - Growth	787.63	16.72%	15.54%	12.46%	1.49
Edelweiss US Technology Equity FOF - Growth	2034.16	32.72%	10.34%	0%	2.35
Edelweiss US Value Equity Offshore Fund - Regular Plan - Growth	93.48	9.28%	15.5%	9.24%	2.3

US Markets

08:30 Markets After
Dow Jones Futures 34,574.89 -1.70 (0.00%)

01:20 Markets Closed
Nasdaq 13,761.53 12.69 (0.09%)

01:29 Markets Closed
S&P 500 4,457.49 6.35 (0.14%)

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