The markets traded lower during the midday with the Dow falling 45 points to 18,093. Nasdaq lost 10 points to 5,204.
PepsiCo will reduce the amount of sugar in all of its beverages by 2025 as part of the company's global effort to combat obesity. Nearly two-thirds of the company's drinks will have 100 calories or less for each 12-ounce serving. New flavor ingredients are being incorporated into drinks that will need less sweetening.
Tesla has delayed the launch of an unknown product that was scheduled for today. The electric vehicle maker said that a few more days were necessary to fine tune the product. An announcement is now expected on Wednesday. Speculation has swirled that the company will introduce an updated version of Autopilot or unveil a new crossover vehicle.
Republican presidential nominee Donald J. Trump is exploring the possibility of creating a Trump-branded television network. Trump's son-in-law Jared Kushner has discussed the business opportunity with LionTree chief executive Aryeh B. Bourkoff. Boutique investment bank LionTree brokered the $78 billion acquisition of Time Warner Cable by Charter Communications.
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 lost 4 points to 2,128. Bitcoin held steady at $637.
