Stocks Ended Lower, Weighed by Material and Health Care

U.S. stocks closed lower on Tuesday, with material and health care stocks leading the retreat from record levels. The Dow Jones Industrial Average fell 33.08 points, or 0.15%, to 22,085.34. The S&P 500 lost 5.99 points, or 0.24%, to 2,474.92. The Nasdaq Composite slid 13.31 points, or 0.21%, to 6,370.46.

Oil prices fell for a second straight session in volatile trade Tuesday as investor sought details from an OPEC meeting to discuss a deal to further cap crude oil production. West Texas Intermediate futures slid 22 cents, or 0.5% to settle at $49.17 a barrel. Brent crude reversed gains to finish 0.4% lower at $52.14 a barrel.

The Walt Disney Company reported third-quarter earnings of $1.58 per share, topping Wall Street expectations, but revenue missed. Year over year, third-quarter earnings for the period ending July 1 were down about 2%, from $1.62 a year ago. Revenues totaled $14.24 billion.

Fossil Group Inc. (FOSL) posted a sizeable loss on the back of a steep drop in stock price. It also announced the departure of its finance chief. Fossil reported it swung to a second-quarter loss of $344.7 million, or $7.11 a share, from a profit of $6 million, or 12 cents a share, a year earlier. Revenue fell to $596.8 million from $685.4 million.

Gate Entertainment Corp. (LGF.A) reported its fiscal first-quarter earnings rose to $173.8 million, or 80 cents a share, from $1.3 million, or a penny a share, a year earlier. Revenue jumped to $1.01 billion from $553.6 million.