Dow, S&P 500 end lower Tuesday for a 3rd day in a row as summer rally pauses

U.S. stocks finished lower on Tuesday as investors awaited a Friday update from the Federal Reserve on its potential path to higher rates. The Dow Jones Industrial Average
DJIA,
-0.47%
shed about 154 points, or 0.5%, ending near 32,908, while the S&P 500 index
SPX,
-0.22%
closed 0.2% lower, with both benchmarks ending lower for a third session in a row. The Nasdaq Composite
COMP,
-0.00%
was virtually flat, even though the benchmark 10-year Treasury yield rose to 3.053%, its highest since July 8, according to Dow Jones Market Data based on 3 p.m. Eastern levels. Wall Street’s main focus remains a speech from Fed Chairman Jerome Powell due Friday, but on Tuesday a significant slowing of new home sales in July and other signs of weaker U.S. economic data also weighed on sentiment. A bright spot for the S&P 500, however, was the energy sector, which gained 3.6% on Tuesday after U.S. crude prices
CL00,
+3.65%
CLV22,
+3.65%
settled higher at $93.74 a barrel.