Stocks bounced back Tuesday from earlier losses but ended the session flat. Snap shares dropped sharply. Fred Katayama reports.
The Dow bounced back Tuesday from losses earlier in the session but finished flat. Investors relieved by the Senate's move to delay its August recess so it can work on legislation. GoldBean CEO Jane Barratt on the market's reluctance to make big moves: SOUNDBITE: JANE BARRATT, CEO, GOLDBEAN, (ENGLISH) SAYING: "It's less of a concern. It's more the pause before the earnings season kicks off in earnest. There's always a frenetic news cycle, so how the markets absorbing that, we'll see." Leading the list of gainers: energy shares as rising crude prices lifted stocks like Devon Energy and Newfield Exploration. Snap shares dropped sharply. In an unusual move, its lead underwriter, Morgan Stanley, downgraded the shares just four months after their debut. Michael Kors shares losing more of their luster. MKM Partners began coverage of the handbag maker with a "sell" rating. A broad-based decline hit European markets. Healthcare and consumer stocks led the way south.