US close: Stocks lower as Trump pauses China tariffs for another 90 days

(Sharecast News) - Major indices closed lower on Monday as market participants looked ahead to key inflation data due out later in the week.

At the close, the Dow Jones Industrial Average was down 0.45% at 43,975.09, while the S&P 500 shed 0.25% to 6,373.45 and the Nasdaq Composite saw out the session 0.30% weaker at 21,385.40.

The Dow closed 200.52 points lower on Monday, almost reversing gains recorded in the previous session.

All eyes will be on this week's inflation data, with key readings set to test the resilience of major indices that continue to hover near record highs. Tuesday's consumer price index will be first up, while Thursday's producer price index will follow, both of which could prove pivotal in shaping expectations around interest rate policy ahead of the Federal Reserve's September meeting.

A stronger-than-expected set of figures could dampen sentiment, particularly if they reignite concerns over persistent price pressures. The data will also serve as a precursor to the Fed's annual Jackson Hole symposium later this month, where policymakers are widely expected to signal their next move on rates. Economists expect to see July's CPI increase 0.2% month-on-month and 2.8% year-on-year.

Stocks were kept in check on Monday after a Financial Times report said chipmakers Nvidia and AMD had agreed to give a portion of revenues from certain chips sold in China in exchange for export licenses.

Market participants were also underwhelmed after Donald Trump signed an executive order that pushed out the deadline for tariffs on Chinese goods by a further 90 days, signing the order just hours before midnight, when the previous pause was due to expire.

Trump also said gold imports would not face fresh tariffs, pushing December-dated gold futures down 2.48% at $3.404.70 per ounce.

No major corporate earnings or data points were released on Monday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Intel Corp. (INTC) $20.65 4.45%

Apple Inc. (AAPL) $227.18 2.98%

3M Co. (MMM) $155.31 1.31%

Procter & Gamble Co. (PG) $154.98 0.96%

Unitedhealth Group Inc. (UNH) $252.37 0.59%

Coca-Cola Co. (KO) $70.75 0.58%

Cisco Systems Inc. (CSCO) $70.67 0.34%

Johnson & Johnson (JNJ) $173.82 0.28%

JP Morgan Chase & Co. (JPM) $289.56 0.28%

Amgen Inc. (AMGN) $285.09 0.27%

Dow Jones - Fallers

Salesforce.Com Inc. (CRM) $232.68 -3.26%

International Business Machines Corporation (CDI) (IBM) $236.30 -2.46%

Caterpillar Inc. (CAT) $408.54 -1.92%

Dow Chemical Co. (DOW) $20.87 -1.65%

Boeing Co. (BA) $225.96 -1.38%

Chevron Corp. (CVX) $153.45 -1.01%

Merck & Co. Inc. (MRK) $80.03 -0.82%

Walgreens Boots Alliance, Inc. (WBA) $11.86 -0.46%

American Express Co. (AXP) $296.23 -0.40%

Microsoft Corp. (MSFT) $521.77 -0.40%

S&P 500 - Risers

Micron Technology Inc. (MU) $123.72 10.52%

Kohls Corp. (KSS) $12.21 9.80%

Electronic Arts Inc. (EA) $176.11 7.66%

Albemarle Corp. (ALB) $80.76 7.00%

Gen Digital Inc. (GEN) $30.78 4.70%

Monster Beverage Corp (MNST) $63.65 4.69%

Intel Corp. (INTC) $20.65 4.45%

Wynn Resorts Ltd. (WYNN) $108.65 3.68%

Apple Inc. (AAPL) $227.18 2.98%

Brighthouse Financial, Inc. (BHF) $45.15 2.98%

S&P 500 - Fallers

Intuit Inc. (INTU) $706.09 -7.01%

Akamai Technologies Inc. (AKAM) $70.61 -6.91%

Under Armour Inc. Class A (UAA) $5.12 -5.88%

DENTSPLY Sirona Inc. (XRAY) $12.52 -5.69%

Take-Two Interactive Software Inc. (TTWO) $222.67 -5.12%

Hershey Foods Corp. (HSY) $175.42 -4.80%

Under Armour, Inc. (UA) $4.97 -4.24%

Jack Henry & Associates Inc. (JKHY) $158.54 -3.95%

Salesforce.Com Inc. (CRM) $232.68 -3.26%

Alexandria Real Estate Equities Inc. (ARE) $71.86 -3.17%

Nasdaq 100 - Risers

Qvc Group Inc Series A (QVCGA) $4.64 29.59%

Micron Technology Inc. (MU) $123.72 10.52%

Electronic Arts Inc. (EA) $176.11 7.66%

Gen Digital Inc. (GEN) $30.78 4.70%

Monster Beverage Corp (MNST) $63.65 4.69%

Intel Corp. (INTC) $20.65 4.45%

Tesla Inc (TSLA) $339.03 4.14%

Wynn Resorts Ltd. (WYNN) $108.65 3.68%

Apple Inc. (AAPL) $227.18 2.98%

Skyworks Solutions Inc. (SWKS) $70.52 2.87%

Nasdaq 100 - Fallers

Intuit Inc. (INTU) $706.09 -7.01%

DENTSPLY Sirona Inc. (XRAY) $12.52 -5.69%

Take-Two Interactive Software Inc. (TTWO) $222.67 -5.12%

Biomarin Pharmaceutical Inc. (BMRN) $56.80 -4.50%

Check Point Software Technologies Ltd. (CHKP) $180.73 -3.72%

Workday, Inc. (WDAY) $213.69 -3.37%

Trip.com Group Limited (TCOM) $59.48 -3.15%

Dollar Tree Inc (DLTR) $114.29 -2.88%

Autodesk Inc. (ADSK) $284.62 -2.79%

Align Technology Inc. (ALGN) $134.91 -2.49%