Major indices fell as wholesale inflation data and high energy costs fueled concerns over central bank policy, overshadowing individual stock movements like Apple's 3.1% gain.
American Eagle Outfitters shares fell nearly 16% after mixed Q2 results and core brand pressure.
Oracle set to report fiscal Q1 2027 results, with cloud growth balanced against margin concerns.
1-800-Flowers.com fell 9.3% after wider-than-expected loss and weak outlook.
Apple shares rose 3.1% after unveiling its first foldable smartphone, the iPhone Duo.
Adobe scheduled to report earnings after close, with results pending.
Macy's fell 3% after weaker-than-expected guidance overshadowed a strong quarter.
Designer Brands rose 5.4% after beating Q2 earnings and raising full-year guidance.
US markets retreated for a fourth consecutive session as persistent inflation data and rising Treasury yields dampened investor sentiment. The Dow, S&P 500, and Nasdaq all posted losses while oil prices remained elevated above $100 per barrel. Investors are now pivoting toward critical after-hours earnings reports from Oracle and Adobe to gauge the health of corporate spending.
Markets fell due to a combination of persistent wholesale inflation, rising Treasury yields, and oil prices remaining above $100 per barrel, which raised concerns about corporate margins and future central bank rate hikes.