Stock indexes closed lower on Tuesday, with the S&P 500 down -0.49%, the Dow Jones down -0.14%, and the Nasdaq 100 down -0.73%. E-mini S&P futures fell -0.46%, and E-mini Nasdaq futures fell -0.71%. Disappointing US services data and price pressures were cited as reasons for the decline. (50 words)

Technology stocks initially lifted the market, with Palantir reporting strong profits and raising forecasts. The possibility of a Fed rate cut also supported stocks. The US trade deficit for June was smaller than expected, potentially positive for Q2 GDP. Dovish comments from the San Francisco Fed President also boosted sentiment. (49 words)

Recent tariff news included the US raising tariffs on Indian imports due to Russian oil purchases. President Trump also raised tariffs on Canadian goods and announced a global minimum tariff. Futures prices imply a 94% chance of a rate cut at the September FOMC meeting. Earnings reports and trade news remain market focuses. (50 words)

Q2 earnings reports suggest S&P 500 earnings could rise by +9.1%. Overseas markets closed higher, with European government bond yields mixed. Interest rates saw T-notes closing lower, with a 10-year T-note yield of 4.202%. European PMI figures were revised, with swaps pricing a 16% chance of an ECB rate cut. (50 words)

Stock movers included companies like Inspire Medical Systems and Gartner, which saw significant declines. On the positive side, Axon Enterprise and Palantir Technologies led gainers. Health insurance companies rallied due to eased Medicare Advantage plan thresholds. Broadridge Financial Solutions, Archer-Daniels-Midland, Pfizer, and Cummins also closed higher. (50 words)

Read more at Yahoo Finance: Stocks Settle Lower as US Service Sector Activity Weakens