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British oil major BP said on Tuesday it had agreed to sell its Alaskan operations for $5.6 billion to privately held oil and natural gas explorer Hilcorp Alaska as part of its divestment plans.

The U.S. central bank on Tuesday rejected a call from a former Federal Reserve policymaker to counter President Donald Trump's trade agenda by refusing to "play along" and denying the president the interest rate cuts he has demanded.

Underscoring discord at the U.S. central over interest-rate policy, directors at half of the Federal Reserve's regional Fed banks -- including those at the influential New York Fed -- wanted to keep the emergency lending rate for commercial banks unchanged in July.

Oil prices rose in highly volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories, though gains were capped by worries about a recession and uncertainty over a China-U.S. trade deal.

Wall Street slipped on Tuesday, weighed down by financial stocks as a deepened yield curve raised U.S. recession worries, while uncertainty reigned on the progress of trade negotiations between the U.S. and China.

The U.S. Department of Justice on Tuesday filed criminal charges accusing Anthony Levandowski, a former high-ranking engineer at Alphabet Inc , of stealing the company's self-driving car technology before joining rival Uber Technologies Inc .

U.S. consumer confidence fell less than expected in August, with households still upbeat about the labor market despite an escalation in trade tensions, which has cast a shadow over the longest economic expansion in history.

Qualcomm Inc on Tuesday announced a new range of Wi-Fi chips designed to work with Wi-Fi 6, the newest version of the technology and one that Qualcomm hopes will help boost sales of its separate 5G chips.

Philip Morris International Inc and Altria Group Inc are discussing an all-stock merger, potentially reuniting two of the world's largest tobacco companies in a bid to dominate the fast-growing electronic-cigarette market.

Wall Street slipped on Tuesday hurt by a fall in financial stocks, while revived worries about a U.S. recession overshadowed early optimism of a resolution to the prolonged trade dispute between the world's two largest economies.

The U.S. Securities and Exchange Commission (SEC) said on Tuesday that it fined public accounting firm RSM US LLP $950,000 to settle claims it violated the agency's auditor independence rules.

Oil prices were steady to soft on Tuesday, paring earlier gains along with the stock market lower as China dampened optimism for a trade deal with the United States.

The U.S. Department of Defense is in talks with Australia to host a facility that would process rare earth minerals, part of an effort to reduce reliance on China for the specialized materials used in military equipment, a senior American official said.

After an event at Keene State College in New Hampshire, Democratic presidential candidate Joe Biden sketched out his higher education plan.

Wall Street treaded water on Tuesday, as a drop in financials and renewed concerns about a U.S. recession offset early optimism about hopes of a resolution to the protracted trade war with China.