US stocks finished mixed on Tuesday on a worse-than-expected ISM Services PMI report.
The Dow Jones Industrial average fell 6.13 points, or 0.05 percent, to end at 12,393.90. The S&P 500 dropped 0.24 points, 0.02 percent, to close at 1,332.63. The Nasdaq Composite rose 0.02 percent.
The Nasdaq Composite closed positive due to the announced rebalancing of the Nasdaq 100 index, which will give less weight to Apple (NASDAQ:AAPL) and more weight to other notable tech companies.
Apple closed down 0.67 percent while Microsoft (NASDAQ:MSFT) rose 0.90 percent and Cisco (NASDAQ:CSCO) gained 0.94 percent.
The Dow and S&P 500 closed negative, however, largely due to a worse than expected ISM Services report, which came in at 57.3, down from 59.7 in the previous month and consensus expectations of 59.5.
In the afternoon, the Federal Reserve released minutes of its March 15 meeting. It didn’t contain major surprises and confirmed that while some hawks in on the rate policy committee want to possibly cut short the Fed’s program of quantitative easing, the majority disagree and see no reason to adjust the size.