U.S. Stocks Finish Lower As Crude Retreats, Fed Decision Looms

By Joseph AdinolfiMarketWatch Pulse

U.S. stocks finished lower Tuesday, but off session lows, as weak oil prices drove a selloff in energy and materials shares. The S&P 500 finished 3.71 points, or 0.2%, lower at 2,015.94, while the Nasdaq Composite finished 21.61 points, or 0.5%, lower at 4,728.67. The Dow industrials finished higher, gaining 21.92 points, or 0.1%, to 17,251.12. The blue-chip index outperformed thanks to a strong performance from Apple Inc. , which benefited from a Morgan Stanley report showing iPhone demand outpacing analysts' expectations. Embattled drugmaker Valeant Pharmaceuticals International Inc. was in the spotlight, plunging more than 50% as it delivered more bad news to Wall Street. Weak U.S. economic data also weighed on sentiment a day before the Federal Reserve is expected to release an updated policy statement and economic projections.

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