FYI: U.S. stocks slipped after President Trump warned of difficulties in trade talks with China.
The S&P 500 fell 0.26% , while the Dow Jones Industrial Average dropped 0.9% and the Nasdaq Composite was down 0.24%.
Mr. Trump tweeted earlier Tuesday that there were “no signs” of China making a new effort to buy U.S. agricultural products.
“That is the problem with China, they just don’t come through,” he added.
Chinese and U.S. negotiators are resuming trade talks this week in Shanghai. Uncertainty over trade has clouded the U.S. economic outlook in recent months, weighing on sectors like manufacturing even as unemployment is low and consumer spending remains strong.
In a sign that Americans are shrugging off trade tensions, the Conference Board, a private research group, said its closely watched index of consumer confidence rebounded in July to its highest level this year.
New data from the Commerce Department showed that Americans’ spending remained healthy in June. Personal-consumption expenditures increased 0.3%, while personal income rose 0.4%, in line with expectations of economists surveyed by The Wall Street Journal.
Some of the biggest U.S. companies reported second-quarter results. Procter & Gamble rose 4.2% after the consumer-goods company posted its highest quarterly sales growth in more than a decade, while drugmaker Merck gained 1% after beating analysts’ expectations for sales and earnings. Apple is scheduled to share results after the market closes Tuesday.
Capital One Financial , whose shares fell 7.1% after the bank reported a huge data breach, and Under Armour , which tumbled 13% after saying it expected North American sales to decline this year.
Overseas, the Stoxx Europe 600 dropped 1.5% amid flagging consumer confidence and fears of a messy Brexit.
The British pound fell 0.5% Tuesday against the dollar, after having declined by more than 1% Monday to its lowest close since March 2017. Investors were reacting to the hardened tone from the U.K.’s new Boris Johnson-led government on quitting the European Union without a deal.
Markets across Asia ticked up, with the Shanghai Composite and Nikkei up 0.4% after the Bank of Japan met expectations to hold steady on interest rates.
U.S. crude oil gained 0.6% to $57.21 a barrel. Gold gained 0.5%.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-07-30/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/stocks-set-to-slump-as-weak-earnings-weigh-2019-07-30/printWSJ:
https://www.wsj.com/articles/european-stocks-slip-as-pound-extends-decline-11564473701Bloomberg:
https://www.bloomberg.com/news/articles/2019-07-29/asia-stocks-look-mixed-dollar-pushes-higher-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/major-stock-indexes-slip-apple-earnings-fed-rate-cut-loom/CNBC:
https://www.cnbc.com/2019/07/30/stock-market-traders-look-ahead-to-fed-meeting-apple-earnings.htmlReuters:
https://uk.reuters.com/article/us-usa-stocks/wall-street-drops-on-new-trade-worries-fed-apple-eyed-idUKKCN1UP1CEU.K:
https://uk.reuters.com/article/uk-britain-stocks/trade-worries-hit-ftse-100-banks-slip-on-boe-plan-idUKKCN1UP0NOEurope:
https://www.reuters.com/article/us-europe-stocks/european-shares-hit-by-bayer-lufthansa-ftse-shines-idUSKCN1UP0NIAsia:
https://www.cnbc.com/2019/07/30/asia-stocks-us-china-trade-central-banks-currencies-in-focus.htmlBonds:
https://www.cnbc.com/2019/07/30/treasury-yields-edge-higher-ahead-of-fed-meeting.htmlCurrencies:
https://www.cnbc.com/2019/07/30/forex-markets-bank-of-japan-federal-reserve-in-focus.htmlOil:
https://www.cnbc.com/2019/07/30/oil-markets-federal-reserve-in-focus.htmlGold:
https://www.cnbc.com/2019/07/30/gold-markets-federal-reserve-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx 
