US stocks closed in the red Tuesday as investors digested a wave of corporate earnings and economic data, while bracing for the Federal Reserve’s interest rate decision due Wednesday.

The S&P 500 (^GSPC) snapped a six-day record streak to close down around 0.3%, while the tech-heavy Nasdaq Composite (^IXIC) fell about 0.4%. The Dow Jones Industrial Average (^DJI) dropped roughly 0.4%, or 200 points.

Markets are poised for a high-stakes week, as the Federal Reserve kicked off its two-day policy meeting on Tuesday alongside a busy slate of economic data. While the Fed is expected to hold rates steady, investors remain on edge for any signs of economic weakness that could justify cuts later this year.

Job openings and hirings both fell in June, the Bureau of Labor Statistics’ JOLTS update showed, setting the stage for the all-important monthly US nonfarm payrolls report on Friday. Meanwhile, consumer confidence saw an uptick in July, but worries about job availability intensified, according to official figures.

Read more: The latest on Trump’s tariffs

Looming large is President Trump’s Friday deadline for trading partners to strike deals or face blanket tariff rates. Earlier Tuesday, top US officials told reporters in Stockholm that President Trump will make the final call on extending a tariff truce with China.

Treasury Secretary Scott Bessent suggested adding another 90 days to the current suspension, with issues remaining minor and mainly related to the Chinese delegation.

Earnings also took center stage, with Boeing (BA) posting better-than-expected quarterly results. But weaker reports from Spotify (SPOT), Merck (MRK), and UnitedHealth (UNH) weighed on sentiment.

Read more: Full earnings coverage in our live blog

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