(Sharecast News) - Wall Street trading got off to a mixed start on Tuesday as Middle East tensions remained firmly in focus and first-quarter earnings earnings season began to pick up steam.
As of 1445 BST, the Dow Jones Industrial Average was up 0.28% at 49,305.76, while the S&P 500 shed 0.40% to 7,145.31, and the Nasdaq Composite came out of the gate 0.80% weaker at 24,688.91.
The Dow Jones opened 137.97 points higher on Tuesday, more than reversing losses recorded in the previous session, while the S&P 500 and Nasdaq retreated from their fresh record closes.
Middle East tensions remained in focus at the opening bell on Tuesday after Donald Trump scrapped plans to send special envoy Steve Witkoff and Jared Kushner to Pakistan for ceasefire discussions, saying that talks could instead take place by phone. Iran's foreign ministry spokesman Esmaeil Baqaei said no meetings between Washington and Tehran were currently planned.
However, White House press secretary Karoline Leavitt later confirmed that the president and his national security team had discussed Iran's proposal to reopen the Strait of Hormuz if the conflict ends and the US lifts its blockade.
Oil prices traded higher early on Tuesday, with West Texas Intermediate up 3.37% at $99.62 a barrel, while international benchmark Brent crude was 2.80% higher at $111.26 a barrel.
Tech stocks were also under pressure after a Wall Street Journal report noted that OpenAI had recently seen revenue and user growth fall short of internal targets, adding that chief financial officer Sarah Friar had warned leadership about the company's ability to meet future computingcost commitments if growth does not accelerate. Nvidia was down more than 2% in early trading, while Broadcom and Intel shed around 4%, AMD dropped nearly 6%, and Oracle traded 7% softer at the open.
Elsewhere in the corporate space, Coca-Cola reported quarterly earnings and revenue that topped expectations, fuelled by higher demand for its beverages, parcel delivery giant UPS posted a Q1 profit and revenue decline, but signalled a return to growth in the coming months, automaker General Motors hiked its full-year profit guidance on the back of a Q1 earnings beat, and consumer goods manufacturer Kimberly-Clark reported increased Q1 profits and rising sales, citing product innovation and resilient consumer demand.
Visa, T-Mobile, Booking Holdings and Starbucks will report earnings after the close.
On the macro front, February's S&P Cotality Case-Shiller national home price index revealed home-price growth had slowed as affordability concerns weighed on potential homebuyers. The index, which measures home prices across the US, ticked up 0.7% in the 12 months ended 28 February, compared with a 0.8% increase in January.
Still to come, April consumer confidence figures and the Richmond Fed's April manufacturing index will be published at 1500 BST.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Verizon Communications Inc. (VZ) $47.91 1.55%
American Express Co. (AXP) $323.09 1.54%
Microsoft Corp. (MSFT) $422.77 1.19%
Goldman Sachs Group Inc. (GS) $939.00 1.18%
Salesforce.Com Inc. (CRM) $183.75 1.13%
JP Morgan Chase & Co. (JPM) $314.69 1.09%
Nike Inc. (NKE) $45.53 1.03%
Cisco Systems Inc. (CSCO) $87.93 0.72%
Intel Corp. (INTC) $81.68 0.44%
Travelers Company Inc. (TRV) $308.00 0.33%
Dow Jones - Fallers
McDonald's Corp. (MCD) $292.89 -3.06%
International Business Machines Corporation (CDI) (IBM) $230.54 -1.69%
Coca-Cola Co. (KO) $79.21 -1.55%
Merck & Co. Inc. (MRK) $111.67 -1.45%
Dow Chemical Co. (DOW) $38.74 -1.37%
Amgen Inc. (AMGN) $343.69 -1.22%
Apple Inc. (AAPL) $270.38 -1.11%
Home Depot Inc. (HD) $335.10 -1.07%
Johnson & Johnson (JNJ) $227.83 -0.95%
Boeing Co. (BA) $229.91 -0.48%
S&P 500 - Risers
Fluor Corp. (FLR) $50.50 7.15%
Nvidia Corp. (NVDA) $209.49 6.65%
Albemarle Corp. (ALB) $191.27 5.95%
Flowserve Corp. (FLS) $86.31 5.67%
Western Union Co. (WU) $9.37 5.34%
Micron Technology Inc. (MU) $500.77 4.95%
FMC Corp. (FMC) $15.75 4.57%
Stanley Black & Decker Inc. (SWK) $79.93 4.20%
Alphabet Inc. Class A (GOOGL) $348.00 4.10%
Centene Corp. (CNC) $45.29 4.02%
S&P 500 - Fallers
Charter Communications Inc. (CHTR) $176.98 -23.10%
Comcast Corp. (CMCSA) $28.17 -9.48%
Ipg Photonics Corp. (IPGP) $112.52 -8.64%
Bath & Body Works, Inc. (BBWI) $19.31 -5.48%
Tractor Supply Company (TSCO) $36.00 -5.41%
Lam Research Corp. (LRCX) $249.94 -4.94%
Nektar Therapeutics (NKTR) $85.74 -4.69%
Corning Inc. (GLW) $150.35 -4.48%
Microchip Technology Inc. (MCHP) $85.57 -4.04%
Alexandria Real Estate Equities Inc. (ARE) $42.63 -3.88%
Nasdaq 100 - Risers
Nvidia Corp. (NVDA) $209.49 6.65%
Micron Technology Inc. (MU) $500.77 4.95%
Baidu Inc. (BIDU) $125.51 4.32%
Alphabet Inc. Class A (GOOGL) $348.00 4.10%
Synopsys Inc. (SNPS) $496.25 4.02%
Alphabet Inc. Class C (GOOG) $346.11 3.87%
Cadence Design Systems Inc. (CDNS) $334.29 3.64%
Illumina Inc. (ILMN) $127.97 3.59%
Meta Platforms Inc. (META) $671.33 3.53%
Idexx Laboratories Inc. (IDXX) $575.16 3.53%
Nasdaq 100 - Fallers
Charter Communications Inc. (CHTR) $176.98 -23.10%
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
Comcast Corp. (CMCSA) $28.17 -9.48%
Lam Research Corp. (LRCX) $249.94 -4.94%
T-Mobile Us, Inc. (TMUS) $186.00 -4.78%
Sirius XM Holdings Inc (SIRI) $26.78 -4.70%
Microchip Technology Inc. (MCHP) $85.57 -4.04%
Texas Instruments Inc (TXN) $268.41 -3.75%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $541.00 -3.46%
Dollar Tree Inc (DLTR) $98.00 -3.35%
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