US Stocks-Wall Street ends down as US-Iran peace optimism fades

Jabil JBL.N climbed after UBS upgraded the electronics firm's stock to "buy" from "neutral." U.S.-listed shares of On ONON.N tumbled after the sportswear brand missed sales estimates. LNG company Venture Global VG.N fell after its second-quarter revenue slightly missed estimates. Strong quarterly earnings helped lift the S&P 500 to all-time highs last week, while the Nasdaq .IXIC was down about 2% from its record high close on June 2. Signs that heavy investments by Microsoft and Amazon in AI data centers are paying off have also lifted sentiment. Consumer and producer price inflation readings, due over the next two days, will be crucial in shaping market expectations on the Federal Reserve's policy path, given Chair Kevin Warsh's goal of reducing guidance on monetary policy. Traders are split over the likelihood of an interest rate hike at the central bank's September meeting, according to the CME FedWatch tool. Rising energy costs, stemming from the Iran conflict, have spurred inflation concerns and complicated the paths of central banks globally. Wall Street ended lower on Tuesday, with Amazon and Alphabet dipping, as investors became more pessimistic about a potential deal to bring stability to the Middle East. The Strait of Hormuz will remain closed as long as the U.S. does not change its behavior and accept Iran's conditions to end the war, the newly appointed secretary of Iran's Supreme National Security Council said. Brent crude futures LCOc1 held near one-week highs in choppy trading, while the S&P 500 energy sector index .SPNY climbed. "As has been the case for months, it's just really hard to come to an agreement that works for everyone. Oil is a little higher, pricing in more uncertainty around that," said Ross Mayfield, investment strategy analyst at Baird in Louisville, Kentucky. "The market has obviously gyrated around this conflict at times, but it hasn't been the big headwind that a lot of people imagined it might be." Amazon AMZN.O and Alphabet GOOGL.O each fell and weighed on the S&P 500 and Nasdaq, while SpaceX SPCX.O also dipped. Alternative asset managers rose, with Apollo Global APO.N and Blackstone BX.N both rallying. They were among financial institutions that recently partnered with Nvidia NVDA.O to establish compute-financing platforms aimed at mobilizing more than $500 billion. According to preliminary data, the S&P 500 .SPX lost 25.32 points, or 0.33%, to end at 7,727.79 points, while the Nasdaq Composite .IXIC lost 160.36 points, or 0.60%, to 26,445.00. The Dow Jones Industrial Average .DJI fell 188.41 points, or 0.35%, to 53,787.57.

US Stocks-Wall Street ends down as US-Iran peace optimism fades

Company movers

Earnings and inflation data remain in focus

Wall Street falls as Middle East peace hopes fade

Big Tech and financials move in opposite directions

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