S&P 500 index slips 0.3% on Tuesday

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Source: Dukascopy Bank
S&P 500 index retreated from recent rally and declined on Tuesday after Billiton announced the demand for steel from China was falling. US benchmark index lost 0.3% or 4.23 points to 1,405.52. Oil and gas sector contributed most to the downside. Tiffany surged 6.7% to USD 73.27 as stock market rally encouraged jewelry purchases. Apple jumped 0.8% to a new record of USD 605.96 a share. Adobe gave up 3.9% on news its profit for second quarter will miss analyst expectations. 

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