Dow Snaps Win Streak as Major Averages Close Lower

FOXBusiness

All streaks are meant to be snapped eventually and Tuesday was when "eventually" arrived.

After a see-saw trading session, the Dow closed in the red for the first time in eight days, snapping its longest winning streak since march 2013. The Dow lost 49 points ending at 17,081. The S&P lost 13 points, squashing its own four-day winning streak, and the Nasdaq lost 42 points.

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JPMorgan (NYSE:JPM) shares dropped after hours on the back of its third quarter earnings. The bank beat estimates on profit but missed on revenue.

Intel (NASDAQ:INTC) shares spiked as much as 1.8% after hours before swinging into the red. The chipmaker released earnings after the bell. Intel beat estimates on both the top and bottom line, but worries the company is too exposed to the shrinking PC market may have hurt the stock's performance.

You can't say cheers to a mega-brew merger just yet, but it is on tap. The world's two largest beer companies are set to join forces. After four previous attempts, AB InBev (NYSE:BUD) convinced SABMiller to accept its fifth offer to buy the brewer. The makers of Bud and Pilsner beers, among others, both ended the day in the green.

The final price pending regulatory approval? SABMiller will go for $104.2 billion. The combined company would be worth $245 billion and control two-thirds of the U.S. beer market.

Shares of trucking stocks skid Tuesday after Ryder System (NYSE:R) cut its third quarter and full-year earnings forecast. The news weighed heavily on competitors such as Swift Transportation (NYSE:SWFT), Heartland Express (NASDAQ:HTLD), Werner Enterprises (NASDAQ:WERN), and Knight Transportation (NYSE:KNX).

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