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* September consumer confidence data weaker than expected
* Retail stocks, Amazon.com fall after the data
* Energy sector shrinks by 1% with falling oil prices
* Index down: Dow 0.05%, S & P 0.19%, Nasdaq 0.65% (Add comment, details)
By Ambar Warrick and Arjun Panchadar
September 24 (Reuters) – US stocks fell on Tuesday after President Donald Trump reprimanded China 's business practices, while disappointing data on consumer confidence raised concerns about the country' s trade. impact of a long trade war between the two countries.
Trump said he would not accept a "bad deal" in trade negotiations and that Beijing had not kept the promises it had made when joining the China to the World Trade Organization. "Economic data has reduced the rally in half to 10 hours and the tone towards the speech made by President Trump at the UN General Assembly has certainly dispelled a little optimism," said Art Hogan , chief market strategist at National Securities in New York.
The main Wall Street indexes opened up after positive comments on Treasury Secretary Steven Mnuchin's trade talks, but slipped after data showed that US consumer confidence fell sharply in September, to 125 , 1, well below the expectations of 133.5 economists.
The retail index fell 0.6%, while a drop of 1.2% in the e-commerce giant, Amazon.com, was the main drag of the S & P 500 , the Nasdaq.
The report is a bit worrisome, said Everett Millman, precious metals specialist at Gainesville Coins in Lutz, Florida, especially since "consumer confidence has been quite high, at least in the United States."
Investors will now turn to other data expected later this week, including the Fed's preferred indicator for inflation, to find more clues about the strength of the US economy.
At 12:17 ET, the Dow Jones Industrial Average was down 12.19 points, or 0.05%, to 26,937.80, the S & P 500 was down 5.72 points, or 0.19%, at 2,986.06. The Nasdaq Composite lost 52.48 points, or 0.65%, to 8,059.98.
Eight of the top 11 sectors of S & P were down, with the energy sector losing 1.13%, reflecting a drop in oil prices.
Only defensive consumer staples, utilities and real estate were up.
Apple Inc. was a bright spot, gaining 0.4% after Jefferies assumes coverage with a "buy" and points to the 5G potential of the iPhone maker.
The Netflix Inc. streaming platform dropped 3.4%, its lowest level in almost nine months after Pivotal Research reduced its price target.
Nike Inc. dropped 0.4%, ahead of the results of the world's largest manufacturer of sportswear after the bell.
Falling issues outnumbered defenders for a ratio of 1.31 to 1 on the NYSE and a ratio of 2.42 to 1 on the Nasdaq.
The S & P index posted 31 new highs over 52 weeks and a new low, while the Nasdaq recorded 35 new highs and 68 new lows. (Report by Ambar Warrick, Arjun Panchadar and Medha Singh in Bengaluru, edited by Sriraj Kalluvila)
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