(CNBC) — U.S. stocks closed lower Tuesday, as investors weighed slight declines in oil prices and more indications of slowdown in China's economy, amid key third-quarter earnings reports.
"I don't think there's anything to it other than seven-straight days up deserves at least one day of (pullback)," said James Meyer, chief investment officer at Tower Bridge Advisors. "I don't think we go back and retest the lows ... I think investors buy the dips."
The last time the Dow Jones industrial average posted seven-straight days of gains was December last year.
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