Stocks end lower ahead of Apple, Gilead earnings Stocks slid early in the session after President Trump criticized China for not delivering on promises to purchase U.S. agriculture products as U.S. negotiators began a round of face-to-face trade talks in Shanghai. The major averages recovered a bit in the afternoon as the president said he had recently spoken with Chinese president Xi Jinping. Up next, Apple (AAPL) will headline the after-hours earnings reporting ahead of the Federal Reserve concluding its two-day rate setting meeting tomorrow. ECONOMIC EVENTS: In the U.S., personal income rose 0.4% in June, with spending up 0.3%. The Conference Board's consumer confidence index rebounded to 135.7 in July from a reading of 124.3 in June. Case Shiller's 20-city home price index rose 0.59% to 216.94 in May. An index of pending home sales increased 2.8% to 108.3 in June. Additionally, the Fed's FOMC began its two-day meeting, with a 25 basis point rate cut widely expected to be announced tomorrow at its conclusion. TOP NEWS: Capital One (COF) fell 5.9% after the company announced that it recently determined there was unauthorized access by an outside individual who obtained certain types of personal information relating to people who had applied for its credit card products and to Capital One credit card customers. The FBI has arrested the person responsible, who has been identified by press reports as a former employee of Amazon (AMZN). Based on the company's analysis to date, this event affected approximately 100 million individuals in the United States and approximately 6 million in Canada. Capital One said it believes it is unlikely that the information was used for fraud or disseminated by this individual, adding that "no credit card account numbers or log-in credentials were compromised and over 99% of Social Security numbers were not compromised." Among mega-cap companies reporting this morning, Procter & Gamble (PG), Merck (MRK) and Eli Lilly (LLY) all reported better than expected earnings and revenue. Both of the giant drugmakers also raised their fiscal year profit outlooks. High-flier Beyond Meat (BYND), which has been rising in nearly a straight line since its IPO, dropped 12.3% after the meat-alternative maker reported quarterly results and offered to sell 250,000 shares of its common stock. Stockholders are also selling 3M shares of its common stock, Beyond Meat disclosed in a filing last night. Meanwhile, Disney (DIS) said that "The Lion King" is expected to cross the $1B mark today at the box office in its 19th day of release. MAJOR MOVERS: Among the noteworthy gainers was RH (RH), which rose 5.9% after it raised its Q2 and FY19 guidance. Also higher were Medpace (MEDP) and LSB Industries (LXU), which gained a respective 17.6% and 29.2% after reporting quarterly results. Among the notable losers was Stitch Fix (SFIX), which fell 1.9% following news that Amazon has launched a personal styling service for Prime Members. Also lower after reporting quarterly results were McDermott (MDR) and Under Armour (UAA), which fell 35.4% and 12.2%, respectively. INDEXES: The Dow fell 23.33, or 0.086%, to 27,198.02, the Nasdaq lost 19.71, or 0.24%, to 8,273.61, and the S&P 500 declined 7.79, or 0.26%, to 3,013.18. Symbols: $COF $PG $MRK $LLY $BYND $SFIX $DIS $RH $MEDP $LXU $MDR $UA $UAASource: (thefly.com)Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page.