Equities gave back modest gains to end slightly lower Tuesday after a day of quiet range-trading. The Dow Jones industrial average eased 0.1 percent, the S&P 500 slipped 0.3 percent, and the Nasdaq lost 0.4 percent. US Treasury yields, the dollar and oil prices all declined.

A large, mixed batch of US economic reports gave markets no direction heading into the start of the holiday weekend on Friday and Thursday's quarter end, Some analysts see position-squaring this week that may be bearish for stocks. Friday's personal expenditures price data is in focus despite the market close.

Among sectors Tuesday, big technology shares were mostly weaker, including Nvidia, which retreated after a week of gains. Chipmakers lagged as a group, along with media, chain stores, rails, utilities and energy. Better performers included restaurant chains, health care, casinos, grocery stores, and health & personal care.

In company news Trump Media & Technology Group, which operates Truth Social, closed at $57.99 in its first day of trading, off from an intra-session high of $75.21. Tesla had a good day as the market reacted favorably to publicity about its self-driving software. Krispy Kreme rallied on news it would team up with McDonalds. On the downside, UPS fell as the market disliked its guidance. Canada Goose, the clothing company, sold off after announcing layoffs.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.