US stocks trim losses, but close lower after 5-day rally

US stock indices fell on Tuesday, after 5-sessions rally, amid focus on the US Federal Reserve's monthly meeting and its decisions.

The US Federal Reserve's monthly meeting will start later today, and will continue to Wednesday, amid expectations of holding the benchmark interest rate near zero, and will be followed by a press conference from the Fed Chief Jerome Powell.

Major US companies will start announcing their Q2 business results this week, led by Apple, Facebook and Amazon.

Tesla reported yesterday its quarterly earnings, which showed a strong jump in revenues and profits during the second quarter, thanks to the electric vehicle sales.

The Conference Board's consumer confidence index rose to 129.1 points in July from 128.9 in June, beating forecasts of a drop to 123.9 points.

To the oil market, WTI crude September futures fell 0.4% or 26 cents, and closed at $71.65 a barrel, after hitting a high of $72.3 and a low of $71.3.

Brent September futures fell less than 0.1% or 2 cents to $74.48 a barrel, after hitting a high of $75.05 and a low of $74.1.

As for stocks, Dow Jones fell 0.2% or 85 points, and closed at 35,058, with a day high of 35,078, and a low of 34,878.

S&P 500 fell 0.5% or 21 points to 4,401, after hitting a high of 4,416 and a low of 4,372 points.

Nasdaq fell 1.2% or 180 points to 14,660, with a high of 14,811 and a low of 14,503.