Global Trade Concerns Pressure Markets
U.S. equities finished modestly lower, with global sentiment being hampered by actions by President Donald Trump to make changes to trade agreements, particularly the Trans-Pacific Partnership (TPP). The energy sector saw some pressure as crude oil prices pared a recent run. Meanwhile Treasuries were higher amid a dormant economic calendar, as was gold, while the U.S. dollar fell. On the equity front, Dow member McDonald's declined despite topping earnings forecasts and Qualcomm saw pressure amid news of a patent dispute with Dow member Apple, while a federal judge blocked Aetna's takeover of Humana.