NEW YORK (AP) — A string of lackluster earnings reports from companies including Coca-Cola and Charles Schwab ended an eight-day winning streak for the Standard & Poor’s 500 index on Tuesday.
Eight of the 10 industry groups in the S&P 500 fell. The declines were led by materials companies. Phone companies and technology companies were the two groups that gained.
The stock market has climbed back to record levels following a brief slump in June, when the S&P 500 logged its first monthly decline since October on concern that the Federal Reserve would ease back on its economic stimulus too quickly. The S&P 500 gained for eight straight trading sessions through Monday, its longest winning streak since January.