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9:51Now PlayingWatch comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Scarlet Fu, Vonnie Quinn, Carol Massar and Emily Graffeo.
Wall Street traders sent stocks down from all-time highs as data showed mixed indications on how American consumers are feeling about the economy. Investors also kept a close eye on a face-to-face meeting between Donald Trump and Vladimir Putin.
Following a surge from its April lows, the S&P 500 fell. Applied Materials Inc. led losses in chipmakers on a disappointing outlook. UnitedHealth Group Inc. soared as prominent funds piled into the insurer. Solar shares rallied. Longer-dated Treasuries underperformed. The dollar and oil retreated.
Trump greeted his Russian counterpart with a handshake in Alaska as they kicked off a highly anticipated summit, with the US leader looking to secure an end to the war in Ukraine. A joint press conference was planned for after their meeting.
Before that, economic data showed a broad-based advance in US retail sales, boosted by car sales and major online promotions. Later, a separate report showed consumer sentiment unexpectedly fell for the first time since April and inflation expectations rose.
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