(CNBC) — U.S. stocks closed lower on Tuesday as one of the busiest days of the earnings season got under way, while oil prices slipped.
"Some of the earnings that have come out have been disappointing and you have oil [lower]," said Craig Sterling, head of U.S. equity research at Pioneer Investments. "The market is kind of aimless here today."
The Dow Jones industrial average traded about 57 points lower, with 3M contributing the most losses to the tune of 33 points, offsetting a gain of 20 points from Procter & Gamble. The S&P 500 dropped around 0.4 percent, with consumer discretionary falling 1.2 percent to lead decliners. The Nasdaq composite underperformed, falling about 0.6 percent. Earlier, the three major indexes traded slightly higher.
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