U.S. stocks fell for the first time in six days on Tuesday ahead of quarterly earnings reports from several megacap technology companies.
The Dow Jones Industrials leaped 82.76 points to 35,075, to run its win streak to five.
The S&P 500 added 10.51 points to 4,422.30, also rising for a fifth straight day.
The NASDAQ gained 3.72 points to 14,840.71.
The major averages are all slipping from their respective records reached in the previous session, on track to break their five-day winning streaks.
Shares of UPS tumbled more than 8% as the shipping company's domestic revenue came up shy of estimates. UPS beat on the top and bottom lines, however, as a surge in e-commerce orders continued.
Tesla erased earlier gains and fell 1.5% following a better-than-expected second-quarter earnings report. The electric vehicle maker passed $1 billion in quarterly net income for the first time.
Second-quarter earnings season continues with Google-parent Alphabet, Microsoft and Apple set to report after the bell Tuesday.
Investors are awaiting the Federal Reserve's update on its monetary policy as the central bank's two-day meeting began. The Federal Open Market Committee will release a statement when the meeting concludes Wednesday, followed by Chairman Jerome Powell's news conference.
The International Monetary Fund warned Tuesday that there's a risk inflation will prove to be more than just transitory, pushing central banks to take pre-emptive action.
Prices for 10-Year Treasurys gained ground, lowering yields to 1.24% from Monday's 1.30%. Treasury prices and yields move in opposite directions.
Oil prices squeaked up one cent to $71.92 U.S. a barrel.
Gold prices climbed 90 cents to $1,800.10 U.S. an ounce.