US equity markets retreated after the European Central Bank (ECB) dented investor optimism around US interest rate cuts ahead of the Federal Reserve's latest monetary policy next week (30-31 July) - Dow down -129-points or -0.47% The broader S&P500 -0.53% but held just above the 3,000 level. The technology centric NASDAQ fell -1.00%, with Tesla Inc sinking -13.61% a day after the electric vehicle maker posted a disappointing second quarter update. In merger and acquisition (M&A) news, Charles Schwab Corp. SCHW, -0.47% announced after the markets' close that it has agreed to buy assets of USAA's investment management operations, including brokerage and managed portfolio accounts, for US$1.8B in cash.
