Stocks edged lower on Tuesday morning as investors awaited new developments in the debt ceiling standoff. Business activity data was better than expected. S&P Global reported that its flash U.S. composite PMI index, which includes both manufacturing and services, rose to 54.5 in May, up from a final reading of 53.4 in April and above the consensus forecast of 53.0. On the earnings front, home improvement retailer Lowe’s reported mixed first-quarter results, but lowered its full-year sales and EPS forecasts. The Dow fell 0.2%, the S&P 0.2%, and the Nasdaq 0.3%. Crude oil traded near $73 per barrel, while gold fell $5 to $1972 per ounce.
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