(CNBC) — U.S. stocks closed mildly lower on Tuesday as investors eyed continued gains in oil and the dollar ahead of the unofficial start of earnings season on Wednesday.
"I expected selloff in the afternoon," said Peter Cardillo, chief market economist at Rockwell Global Capital. "The market went up for no reason other than energy stocks were strong and that was due to oil. A little cautiousness ahead of the FOMC minutes and Alcoa earnings (on Wednesday)."
The S&P 500 and Nasdaq lost all their gains in the minutes before the close to trade slightly lower, while the Dow struggled to hold on to mild gains.
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