Wall Street snaps winning streak

United States markets close lower amid slew of earnings reports, ahead of Bernanke's testimony to Congress.

United States stocks have snapped a three-day streak of records as investors looked ahead to testimony on Wednesday from Federal Reserve Chairman Ben Bernanke.

At the closing bell, the Dow Jones Industrial Average fell 32.33 (0.21%) to 15,451.93.

The broad-based S&P 500 gave up 6.24 (0.37%) to 1,676.26. Both the Dow and the S&P 500 had posted three straight days of record highs before Tuesday.

The tech-rich Nasdaq Composite Index lost 8.99 (0.25%) to 3,598.50.

The losses came after a series of mixed earnings results and economic indicators.

Consumer prices rose more than expected in June, but the difference was mainly due to higher petrol prices.

US industrial production also picked up in June, but analysts rated the results lacklustre compared with historic trends for this time of year.

Brent Schutte, market strategist at BMO Private Bank in Chicago, said many investors were reticent to trade given Bernanke's impending twice-yearly testimony to Congress.

"I don't think you can discern too much out of market activity today just because I don't believe too many people are getting in front of what Bernanke has to say tomorrow," Schutte said.

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