Wall Street market report

  • 29 July 2014
  • From the section Business

(Close): U.S. stocks fell on Tuesday, dropping as a weak outlook from UPS weighed on sentiment and pressured transportation stocks.

The Dow Jones Industrial Average fell 69.9 points, or 0.41%, to 16,912.69.

The tech-heavy Nasdaq index dropped 2.21 points, or 0.05%, to 4,442.70.

The broader S&P index lost 8.86 points, or 0.45 percent, to 1,970.05.

Second-quarter GDP data will be published on Wednesday

Job market figures are expected on Friday.

United Parcel Service, the world's biggest courier company, slashed its earnings forecast for the year as it spends to boost capacity ahead of the holiday shopping season.

The stock fell 3.7% to $98.86.